Additional Revenue Could Lower Loudoun Tax Rate
The county administrator presented his budget proposal to Loudoun supervisors; public hearing dates announced.
County Administrator Tim Hemstreet told the Loudoun Board of Supervisors that the real estate tax rate in the county could be pushed lower than advertised without reducing revenue thanks to $15 million to $20 million in previously unanticipated assessment increases. Hemstreet presented his proposed FY 2014 budget to the board Wednesday, adding that supervisors could keep the rate at the advertised $1.23 per $100 of assessed value and fund additional county goals, or lower the rate 2-3 cents. The fiscal plan totals about $1.8 billion in appropriations for the general county government and school system. When initially advertised, $1.23 was the equalized rate, meaning the average tax bill would remain the same; now a lower rate would result…
