Housing Slump Hurts Fairfax Coffers
A potential budget shortfall of $120 million dollars has Fairfax County officials struggling to fund all of its government programs. The poor real estate market is driving down revenue to its lowest point in 15 years and accounts for most of the problem which could particularly affect county school budgets. A news story is in today's Metro section.
By Focus on Fairfax |
August 7, 2007; 9:32 AM ET
| Category:
Economy, Taxes
,
Government
,
Schools
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Posted by: jimfoster22152 | August 8, 2007 12:01 PM
Back before the rise in housing prices, Fairfax County had a budget that many counties throughout the country would've loved to have. It was considered one of the more affluent counties back then and certainly made do with what it got in taxes.
Then housing spiked and as a result so did the assessments and therefore the property taxes. Fairfax got fat on it's plump new budget.
Of course now that there's a housing "slump" they don't know what to do. And the funny part is the current housing CORRECTION is miniscule compared to the massive rise in prices.
Try trimming your budget and programs instead of spending like mad. It's not like you've always lived on this fat budget. And stop being so wasteful. Fairfax County sees fit to build opulent buildings like the Taj Mahal (the Fairfax County Government Center), buy plasma television screens, etc.
Posted by: Ineluki | August 9, 2007 11:25 AM
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Background information from the Fairfax County Taxpayers Alliance:
In the seven years since 2000, inflation-adjusted real estate taxes for the "typical" Fairfax County homeowner have increased by $1900. In the previous 19 years, inflation-adjusted real estate taxes increased by $100.
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Posted by: jimfoster22152 | August 9, 2007 11:43 AM
To: bwkenn
I don't know where you get your information, but I assume you are talking about the car tax.
FYI, Fairfax County has suffered because of the cut in the car tax. I just paid my car tax. It was a whopper.
The solution to high property taxes is to pay attention to spending. I have watched action at the yearly hearings. Not one time have I hearn anyone talk about spending.
Until voters turn their attention to spending, our property taxes will continue to rise, regardless of county revenues.
Posted by: jimfoster22152 | August 19, 2007 9:07 PM
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Thank goodness for the Dillon Rule!