NOTE: Visit May, 2009 post to see the actual tax rates for FY 2009-2010:
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Loudoun County Budget recommendations call for a $1.44 billion for the Fiscal Year 2010 to cover local government operations. To provide for the budget, the residential tax rate would increase from $1.14 to $1.29 per $100 for 2010 and overall budget would be decreased by approximately $151 million, eliminating about 1,000 jobs, including some currently vacant. However, because of lower assessed values, average residential tax bill will decrease by about 3.2% in 2010, despite the higher tax rate.
Almost 3/4 of the Loudoun County’s Budget, 72.3% of tax funding supports the school system, and 27.1% supports the general county government. Of the proposed $1.29 tax rate, $0.933 would go to support the school system, $0.349 to support the county government, and about 1 cent for the Comprehensive Services Act for At-Risk Youth (CSA).
The Loudoun’s proposed 2010 fiscal plan includes $909 million for the school system, $484 million for the general county expenditures, and $10.6 million for the Comprehensive Services Act for At-Risk Youth (CSA).
The $909 million School Board Budget includes $787 million for operating expenditures, $1.4 million for capital projects and asset replacement, and $121 million for debt service. There are 57,317 students enrolled in 75 public schools in the 2008-2009 school year in Loudoun County. For comparison, the average cost per student during the 2008-2009 school year is $12,898 in Loudoun County, and $13,340 in Fairfax County. To view statistics for Loudoun County Public Schools.
Home values in Loudoun decreased 14% in 2008. The county budget was also hindered by thousands of foreclosures since 2006.
Aside from declining home values, most other economic indicators are strong in Loudoun County. The local labor market is one of the best in the nation due to the presence of the federal government, the Dulles airport, and the county’s highly educated workforce. Loudoun continues to be an attractive market for the commercial business.
Loudoun County ranked first, as the most wealthy county in the nation with the highest median income per family for 2007, according to the Census Bureau.
The first public hearing on the proposed budget is scheduled for Wednesday, February 25th, 2009 at 6 p.m. in the County Government Center. The subsequent hearings are scheduled for Thursday, February 26 at 3:30 and 6:30 p.m. also in the County Government Center. On Saturday, February 28th at 10 a.m. and 12:30 p.m. there will be a public hearing held at the School Administration Building in Ashburn.
Here are the links, if you wish to study Facts and Figures, and the proposed Loudoun County Budget for 2010 before you attend the public hearing.
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