Loudoun Tax Assessments Leave The County With A Predicament
Our local Loudoun housing tax assessments were mailed out last Friday. A few highlights…
- All taxable property has dropped by an average of 9.3%.
- Residential properties were down 14.7% on average.
- Condo’s were down 24.1% on average.
- The Sterling district fell by 31.1% (the highest drop). The second highest drop was in Leesburg 22.8%.
Because of these declines, the property tax rate would need to increase from $1.14 to $1.33 per $100 assessed value to cover the budget. 2008 already had the largest increase in property taxes, a 19% increase. Do we really need another one?
I am not against taxes. There is a price to pay to have the great services Loudoun offers. However, once this real estate market rebounds (which it will) these tax rates will not decrease and our taxes will soar. Maybe it is time to consider cutting back during a time of recession instead of trying to maintain the same level of government activity while times are tough. Is this not what you do when money is tight? Why should our government not do the same thing? This is not weakness for Loudoun… This is Wisdom, and it will be why this area continues to thrive in the long run….
Loudoun County Home Sale Stats
Loudoun County 2008 Property Tax Increase
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I agree. Government should run its house the way you run your house. Use the money that you have for necessities, buy wisely – no waste, and when the money runs out -stop spending.