Provided by Prince William Chamber of Commerce
Yesterday, Chairman Corey Stewart and Supervisor Pete Candland proposed a massive tax increase on businesses in Prince William County by doubling the “Tech Tax”.
Over 4,000 businesses in Prince William County pay the “Tech Tax” and this proposal will increase operating costs, potentially limit a business’ ability to invest in new technology and WILL have a devastating impact on the County’s economic development.
The proposal calls for a 75-cent increase in the “Tech Tax” rate from $1.25 to $2 in the first year, and then an incremental increase of 12.5 cents a year till the rate reaches $2.50 to DOUBLE the rate.
“This is the third year in a row that Supervisor Candland has proposed an enormous tax increase on businesses here in Prince William County and the second year that Chairman Stewart has proposed it. We need to be working to make the Prince William Region the best place for businesses to want to come and grow; proposals like this only create an unstable business environment that will scare away potential businesses, over-tax existing businesses and will stunt economic growth in the region,” said Ross Snare, Director of Communications and Government Affairs for the Prince William Chamber of Commerce.
“I am mystified at this latest move, especially in light of Stafford County’s recent decision to match Prince William’s current rate – a move specifically intended to lure data centers from Prince William who are were “spooked” by last year’s attempted increase. The way to generate more tax revenues from the data centers is to continue to encourage their plans for growth. If we lose the single largest source of capital investment in the county, it will be the residential taxpayers who will end up paying for that loss with their own increased property taxes,” said Betty Dean, Chairman of the Prince William Chamber of Commerce.
Chamber President and CEO Debbie Jones said of the method in which this was brought up, “Back in February of this year, the Board of County Supervisors directed County staff to work with industry and come up with a mutually agreed upon proposal for incrementally increasing the “Tech Tax” over the next several years. Instead of waiting for discussions to occur and for County staff to come out with a proposal these Board of County Supervisors members waited till two weeks prior to a generally well received budget being finalized. Chaotic actions like this create an unstable and unpredictable environment for businesses.”