How will county and town finances be felt in your home?
What services are you willing to give up, or pay more for?
Somewhere between December 5 and January 13, the Montgomery County Board of Supervisors went from projecting a $2.5 Million shortfall to a $4.2 Million budget gap.
That makes 2009 non-budgeted expenditures by the supervisors for additional land purchases seem more unnecessary. One was to move General Services functions to the rear of the County Government Center and another was for possible additional parking adjacent to the new courthouse. Combined, these deals cost taxpayers approximately $1.5 Million. These funds sound as if they'd be nice to have sitting in a "rainy day" account now.
The county is currently conducting the once-every-four-year reassessment on property values. To fill a $4.2 Million hole, that would require an increase of at least six-cents per $100 valuation (or an additional $120 for an assessed $200,000 property).
Given that housing has a market glut (compounded by foreclosures), is it realistic to expect these deflated values to show up in our reassessments? Remember, too, that when unemployment remains high (and replacement jobs do not pay more than those which disappear), housing values remain affected.
Will the towns just accept the county's values, or will they change their property tax rates to remain revenue neutral? Remember, townies, you pay twice because you get extra services.
Shift over to schools and the picture isn't much brighter. Administrators are grappling with a $5.5 Million shortfall, following years of flat funding or previous cuts. While the money all goes to the county, more than 60-cents of every K thru 12 dollar comes from State, Federal or grant sources.
Localities around the NRV have already sucked up extra expenses, shifted from the State, for constitutional officers to transportation or education. Public college tuition has seen double-digit increases over the past decade, further indebting students and their parents.
Why is it some elected officials feel comfortable with mandating this or that, yet are unwilling or unable to pick up the tab using the resources available to them?
The Virginia General Assembly is back to work, and the projected state budget shortfall now runs in the billions (even though many of these same legislators complained about "surplus funds" two years ago). There are too many unfunded projects statewide to mention (like expanding Peppers Ferry Road).
Are county residents (and those who live in Blacksburg or Christiansburg, who pay more taxes) able to absorb higher costs for government? Or are these citizens already struggling to cover higher gasoline, medical insurance, utilities, and food expenses?
Even if you've managed your personal finances well, be ready to cinch up your belt. And be ready to say what you'll be willing to do without, in lieu of town, county and state tax increases.