This week's Board of Supervisors' decision to simply substitute $7.3 million in local tax funds needed for the school system with $7.3 million in federal stimulus funds doesn't seem to achieve the stated goals. The shift in funding would not create or preserve a single school system job nor would it increase services provided by the schools. Nor is it likely the freed up money will be invested into debt-free construction or even to accelerate bond payments, options that could achieve long-term savings and are typically viewed as prudent uses of one-time revenues.
Most likely the action simply permits the Board of Supervisors to shave 1 cent off the real estate tax rate. That means a family living in a $400,000 home will save $40 in taxes next year - enough, perhaps, to sit-down for a meal at a restaurant.
Monday, March 30, 2009
President Obama buys dinner for Loudoun
Author: John Stevens
From Leesburg Today Editorial: Hitting the Target?