Prince William County Schools will lose $1.3 million next year after the Board of County Supervisors lowered its projected rate increase for county tax bills, according to a district statement.
Prince William County staff and the school district developed budgets that assumed an average tax bill increase of 4 percent for residential property owners. On Tuesday, the Supervisors cut the maximum rate increase that they would accept to 3.53 percent. That is an average tax rate of $1.196 per $100 of assessed value.
Read more about the Board of Supervisors budget vote
On Wednesday morning, the district issued a statement on its website noting that will mean a budget shortfall of $1.3 million next year and up to $20 million in lost revenue over the next five years.
"The reduction requires cuts in the proposed budget and shrinks the plan ultimately approved by the Prince William County School Board," according to the statement. "With lower revenues, overall per pupil spending and other expenditures detailed in the proposed budget will decline."
According to the district, the budget approved by the school board:
- Maintained educational programs and services
- Anticipated nearly 2,100 new students
- Funded extensive school construction, expansion, and repairs
- Provided employee raises, with no anticipated layoffs
- Faced an uncertain fate due to county/state funding questions.