Governor Glenn Youngkin reiterated his commitment to Virginia’s veterans and celebrated the extended tax-exemptions for military retirement pay through the removal of age restrictions in the 2023 Virginia state budget. After enacting a state tax exemption for military retirement pay in 2022, this expanded benefit will apply to all military retirees regardless of age and takes effect in the taxable year beginning January 1, 2024.
Fairfax County will spend $100M on bond interest this year. That adds $230 to the average real estate tax bill.
Bonds encourage excessive spending. For example, since 1994 the county and schools have spent $360M (plus interest) on four projects that were so controversial that the supervisors were afraid to put them up to referenda.
The Board voted 8 to 2 to consider a raise for Board members, which I opposed along with Supervisor Alcorn (Hunter Mill). The raise would increase Board member salaries from $95,000 to as high as $130,000, with an additional consideration to raise the Chairman’s salary to a range of $140,000 to $145,000. It is unbelievable that this Board would propose a 37 to 45 percent raise for themselves when residents are struggling with high inflation, a 50 percent increase in homeowner taxes over the last decade, and in a budget that does not address the staffing crisis in public safety and other critical county positions.
This comes on top of a $1.1M increase in Board office budgets approved last year which I opposed.
Governor Glenn Youngkin announced the General Fund revenue collections for January 2023. For January, which is typically a significant month for collections, adjusted general fund revenues increased by 3.0 percent compared to January 2022. On an unadjusted basis, general fund revenues increased by 2.1 percent year-to-date.
“Month after month, these revenue numbers reflect our previously forecasted levels for the Commonwealth, the system has more than sufficient level of funds to cut taxes for families and local businesses and make significant investments in behavioral health, our children’s education and law enforcement recruiting and retention in Virginia,” said Governor Glenn Youngkin.
Governor Glenn Youngkin today hailed the passage of his tax relief proposals, HB 2138 and 2319, in the House of Delegates which will provide savings to Virginia families and local businesses. The legislation will now head to the Virginia Senate for consideration.
“Virginians are still overtaxed, they deserve to keep more of their hard-earned paychecks and today’s significant move by the House of Delegates means Virginians are one step closer to additional relief,” said Governor Glenn Youngkin.
Virginia will reduce its grocery sales tax rate starting Jan. 1, resulting in a 1% tax on groceries and certain essential personal hygiene products.
Virginia will eliminate the 1.5% state retail sales and use tax on food and certain hygiene products, leaving a 1% local option sales tax.
Most staple grocery options and cold prepared foods for home consumption qualify for the reduced tax rate, as well as personal hygiene products like diapers, bed sheets and most feminine hygiene products.
Today, Republican National Committee (RNC) Chairwoman Ronna McDaniel released the following statement on Joe Biden raising taxes on Americans during a recession:
“With the stroke of a pen, Joe Biden will guarantee congressional Democrats’ careers will come to an end. Biden and Democrats raised taxes on hardworking Americans and gave $80 billion to the IRS to hire 87,000 new IRS agents. Americans will never forget that Biden and Democrats raised taxes during a recession.”
Fairfax County just mailed out its 2022 car tax bills, and the tax increase is substantial.
The Board of Supervisors granted us a 15% discount off of the inflated 2022 Blue Book vehicle values.
That’s nice, but it looks like the Board failed to mention that the car tax was increasing for a second reason: the “subsidy” was reduced for the first $20K value of the car.
Here are some car tax facts for my personal vehicle.
Around June 28 Fairfax County homeowners got their real estate tax bill, which is due July 28. The typical homeowner’s real estate tax bill increased by $484 or 6.8%, from $7,159 to $7,643.
Around September 5, Fairfax County car owners will get their personal property tax bill, which is due October 5. The typical household’s personal property tax will increase by $151 or 36%, from $420 to $571.
Combining real estate and property tax increases, the typical household will have a $634 or 8.4% tax increase.
Governor Glenn Youngkin ceremonially signed the Virginia State Budget, which delivers on his promise to provide tax relief for Virginian families, increase funding for law enforcement, and support the development of lab schools, among other key initiatives of his Day One Game Plan. “Every day we have worked hard to build a more prosperous Virginia, with greater opportunity for future generations,” said Governor Glenn Youngkin.
“Together, we enacted historic tax cuts and made record investments in education and public safety,” said Delegate Barry Knight, House Appropriations Committee Chair.