Tax Bills Likely To Go Up For County Property Owners

If the Prince William County Board of Supervisors sticks with the real estate tax rate that it decided to advertise last night, most home and property owners will have a higher bill.

Supervisors voted unanimously Tuesday to advertise a real estate tax rate of $1.213 per $100 of assessed value for fiscal year 2012.

The advertised rate is 2.3 cents lower from the current rate, but the by $93 per year if the rate is approved. The current rate of $1.236 per $100 of assessed value yields an average tax bill of $3,110.  If the advertised rate is approved, the average tax bill is projected to go up to $3,204.

The additional revenue from the real estate taxes is needed to fund the schools budget and to use untapped bond money to build roads and other capital projects. The county is expected to open three new schools this fall and libraries in Montclair and Gainesville by 2016.

Once the county advertises a tax rate, supervisors cannot increase that rate unless they start the entire process over. They can vote for a lower rate than what was advertised.

The public hearings are scheduled for April 4 and April 6. Supervisors are then scheduled to approve a final rate at their April 26 meeting.