WOODBRIDGE, Va. (AP) — Prince William County is facing a budget shortfall of nearly $6 million for the fiscal year that ended in June, due in part to tax exemptions, the federal government shutdown, sequestration and other factors.
The Washington Post (http://wapo.st/Y3KbMw ) reports the county ended the 2014 fiscal year with a shortfall of $5.9 million.
According to a presentation to the Board of County Supervisors, nearly half the shortfall was attributed to tax relief programs for disabled veterans and other elderly or disabled people. Virginia’s Tax Relief for Disabled Veterans program provides 100 percent tax relief for some disabled veterans.
Sales tax revenue and property tax revenue also was down, due in part to federal budget cuts.
A county spokesman says the shortfall will be covered by a reserve fund.
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Information from: The Washington Post, http://www.washingtonpost.com
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