February 15, 2008 (LPAC)--"The party's over," stated Loudoun County Board of Supervisers Chairman Scott K. York this week, referring to the impact of falling real estate values on local government revenues. To offset the decline, the Loudoun County Administrator proposed a 35.6-cent increase in the real estate tax in the fiscal year 2009 budget, adding 13.6 percent to the average homeowner's property-tax bill. The budget also calls for a $23 million reduction in the already adopted school budget. The local tabloid Leesburg Today carried York's comment as a banner headline.

Supervisor Steven Miller (D-Dulles) said that some of his constituents, particularly those who are on fixed incomes, are worried about being able to afford their increased tax bill. "For them it's not about tightening the belt... They get certain amount of money and when that money's gone...," that's it. And this is in the county that ranks in the top five out of 3000 counties, for the highest average income in the USA.