Tax rates may be increasing in Prince William County.
On Tuesday, the Board of County Supervisors (BOCS) heard County Executive Chris Martino’s proposed fiscal 2021 budget.
Increasing the real estate tax rate and the tax rate on electronic equipment for businesses was included in the proposal.
Martino recommended raising the real estate tax rate from $1.125 per $100 of assessed value to $1.145.
If the $1.145 rate was approved, it would generate $6.5 million, according to a release from Prince William County.
A real estate bill would — on average — amount to $4,432 each year and would equal a $242 annual increase.
The advertised real estate tax rate that the BOCS approved is $1.17 per $100 of value.
It may OK a rate that’s lower than the advertised one. However, a rate that’s higher can’t be approved.
Raising the personal property taxes for businesses on technology — such as computers and peripherals — from $1.25 per $100 of value to $1.30 was also proposed.
For peripherals and computers, the advertised tax rate is $1.35 per $100 of value. The advertised rate on boats and trailers is $3.70.
Last year, Supervisor Pete Candland and then-BOCS Chairman Corey Stewart proposed raising the Programmable Computer Equipment and Peripherals tax rate to $2 per $100 of value.
An advertised motor vehicle licensing fee of $33 and an advertised motorcycle licensing fee of $20 were approved by the BOCS, as well.
Martino’s proposed budget sets aside $646 million for Prince William County Public Schools (PWCS), a nearly $39 million increase from fiscal 2020.
PWCS Superintendent Steve Walts’ proposed fiscal 2021 budget was shared with the School Board earlier this month.
Funds were also allocated to the Children’s Services Act (CSA), Virginia Retirement System (VRS) and employee compensation in the proposal.
Officials will be hosting Capital Improvement Program (CIP) and budget-related meetings throughout the next couple of months.
Here is the budget schedule.
Details on the proposed budget are available on the county’s website.