Ravenwood - 04/02/08 06:30 AM
In times of budget shortfalls, people usually make do with less. When money gets tight, people will postpone their vacations, put off buying that new car, or start packing their lunch to make ends meet. But not the government.
When the government faces economic shortfalls, they simply use the threat of lethal force to take more of the citizens money. Such is the case in suburban Loudoun County (Virginia).
The Loudoun County Board of Supervisors, struggling with a sudden downturn in the housing market and a population that grows ever larger, approved a 19 percent increase in the property tax rate yesterday that will send the average bill soaring by more than $300 this year.Dipping into the $108 million "rainy day fund" to cover the $25 million shortfall was quickly dismissed as an option. Apparently it never rains on the government either.Driven by a new Democratic majority, the board narrowly approved a $1 billion spending plan that requires an 18-cent increase in the tax rate to $1.14 for each $100 of assessed value. The plan is expected to result in a 6.5 percent increase in the average homeowner's tax bill.
To be fair to Democrats, even the board's two Republicans were pushing for "a more modest increase". Because in today's poltical world even largesse is bipartisan. Notice that cutting spending on social programs and other vote-buying schemes was never even considered.
Make DO, not make DUE.
My apologies for the drive-by grammar lesson.
Posted by: Robert at April 3, 2008 8:15 AM300 / 0.19 = $1579. You're only paying $1579 in property taxes on average?
$1579/1.14 = 1385.04
1385.04*$100 = $138504
And your average home is assessed at $138,504?
Yes, this is a major tax hike, but boy howdy, you've got some cheap housing and low taxes there even after the rate hike.
Drew,
Those numbers are dubious. Houses around here run about $350k and up. Average tax bills are about $4000. I'm sure those numbers are misunderestimated to make the tax hike look less painful.
Posted by: Ravenwood at April 3, 2008 6:23 PMI'm guessing what you're seeing here is merely the county's portion of the property tax. Other taxing authorities, such as school districts and special districts will add their own mill levies, with the school district generally being the largest portion of the property tax bill. Here in Colorado, I'm currently paying property taxes to 5 different entities: school, county, city and two seperate urban flood control districts. In my case, the schools take over 60% of my property taxes.
Posted by: Pat in Colorado at April 25, 2008 2:31 PM(c) Ravenwood and Associates, 1990 - 2014