Prince William County has seen residential property value reductions of nearly 30 percent on average, placing a significant strain on local tax collections.Meanwhile, assessed value of commercial properties has held relatively constant and apartment communities have seen increases of about 17 percent, on average.So, homeowners are largely held harmless by the property tax rate increases the County is considering, but AOBA members stand to bear the brunt. County Supervisors looked at relieving the burden on businesses by raising the threshold having to pay Business, Professional and Occupancy License (BPOL) taxes, but that would only help very small and start-up businesses, while creating pressure to raise the property tax in order to offset the lost BPOL tax revenues.The Supervisors, with AOBA’s support, took a strawvote recently and rejected the proposal, but will hold a work session to explore other avenues for providing tax relief to businesses.
