Tuesday, March 2, 2010

Arlington County advertises 10.3% property tax increase

The Arlington County Board has advertised a tax rate of 96.5 cents per $100 of assessed property value for fiscal year 2011 (FY 2011).  FY 2011 begins on July 1, 2010.  The advertised tax rate  is 9 cents, or 10.3%, greater than last year's rate of 87.5 cents.  The total proposed budget is about $942 million, 0.5% less than last year's budget.  Generally bad economic conditions have shrunk the County's tax base.  Generally bad economic conditions have also shrunk at least some residents' incomes.   Both these effects contribute to the budget policy challenge.

The adopted tax rate will be no higher than the advertised tax rate.  Public hearings on the budget will occur on March 23, 24, and 25 at 7 pm each day in the County Board Room.   Final budget decisions will occur with the adoption of a FY 2011 budget at the County Board meeting on Apr. 24, 2010. 

Arlington County has excellent online information about its budget.  Keep an eye on your budget!

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