New Loudoun County budget cuts property tax
LEESBURG, Va. (AP) - The Loudoun Board of Supervisors had adopted a nearly $1.8 billion fiscal 2013 plan that will cut the property tax rate.
The budget adopted Tuesday night lowers the property tax rate to $1.235 per $100 of assessed value.
That's a 5-cent decrease from the current tax rate.
The supervisors enhanced funding for the county's economic development initiatives even as they trimmed more than $30 million from the fiscal plan initially proposed by the county administrator.
However, some popular programs, such as Loudoun's Drug Court, did not receive funding.
The budget still leaves the county school board to deal with a $22 million shortfall, despite $825 million in county funds that will be put toward the school system's operations.
Loudoun's school system is the fastest-growing in the region.
Information from: http://www.washingtonpost.com
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