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Good News For Prince William County Homeowners

by @ 7:17 am on March 19, 2009. Filed under Prince William County, Virginia, Virginia Politics

It looks like your property taxes will be going down:

Prince William County homeowners, at ground zero of the local foreclosure crisis, would receive the biggest reduction in property tax bills in the Washington suburbs under a measure approved yesterday.

Most local governments are raising tax rates to offset the effects of the sagging housing market. The Prince William Board of County Supervisors also is moving to raise the property tax rate. But because home values in the county have fallen 32 percent, the average bill for Prince William homeowners will drop at least $435 — underscoring what one county leader called a political distinction.

(…)

After debating several proposals, Prince William supervisors agreed on an advertised tax rate of $1.212 per $100 of assessed value. That is 24 cents higher than the current rate. But the tax bill for an average $240,000 house would be almost 13 percent less. The advertised rate, a preliminary step, sets a cap for the year. Supervisors may lower the rate but not raise it.

Prince William’s proposed rate is higher than any other in Northern Virginia except Loudoun County’s. But officials say the average residential tax bill in Prince William would be about $1,400 less than in Fairfax, Loudoun and Arlington counties.

This is welcome news and I’ll take it as such, but I must admit that the raising of the tax rate is worrisome only because one wonders if they’ll really lower it when assessments start going back up again.

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2 Responses to “Good News For Prince William County Homeowners”

  1. vmj says:

    This is a tax hike. Just because we will not pay as much as last year means nothing to me.

    I have written Corey Stewart twice on this subject. It is outrageous that the board charge even 1 cent more. Last year I appealed my assessment and when denied they just blew it off and told me next year I will reap the benefits of the housing market. My reply was they will just raise the base rate and the two inspectors laughed… They obviously don’t get it…and about being worried that the board will not reduce tax rates when house prices go up…get real, they will keep them at the same rate and spend every penny!

  2. MPC says:

    I just called the Prince William County Tax Assessment Office and asked what is the proposal for the tax rate on our properties. The employee said the proposed rate is $1.28 per $100 for 2009. It will voted on in April/May.

    The assessed value of my property went down $114,000 between January 08 and January 09. (I got no tax decrease in 2008, by the way.) I will be really upset if my property taxes do not decline significantly in relation to the devaluation of my home. What is the point of assessing our properties? The County will raise our property taxes when home values are rising, but it will not reduce property taxes in the same ratio that it hikes them up.

    When money is tight in our family, we cut back on food, clothing and recreation. In the same way, the County has to cut back and spend less. Unfortunately, we taxpayers have become nothing but a giant piggybank for the government to tap into.

    I understand that 5% of the people in the United States owns 90-95% of wealth in this country. I wish the government would go after those 5% and have them fund the mess we have to pay for at the state and federal levels. Come on, Bill Gates, Warren Buffet, Oprah Winfrey, George Soros, etc. If you gave up half your wealth to prop up this economy, you’d still be the super duper rich!

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