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‘…concerns have been raised within the business community regarding whether or not focusing on a real estate tax ratio is the best “measuring stick” for progress’

On Friday, November 3, the Prince William Chamber of Commerce Economic Development Committee will host renowned economist, Dr. Stephen Fuller of the Stephen S. Fuller Institute and members of the Prince William Board of County Supervisors for a discussion on regional trends and the economics of growing the commercial tax base in Prince William County.

Earlier this year, Prince William County approved their FY17-20 Strategic Plan which contains long-term goals for the Board of County Supervisors (BOCS) on topics ranging from economic development to public safety and education. Of particular interest to the business community is the economic development goal focused on increasing the ratio of commercial property tax to 35% of all collected revenues. Since the plan’s approval, the Chamber has hosted multiple meetings on this issue, hearing from County staff as well as industry leaders. 

View a September Opinion piece by the Chamber that explains more about the issue.

While growing business in the County is an important goal, and one which the Chamber supports, concerns have been raised within the business community regarding whether or not focusing on a real estate tax ratio is the best “measuring stick” for progress. The Chamber has invited the Prince William Board of County Supervisors to attend the presentation to hear from Dr. Fuller in hopes that the targeted discussion will provide the necessary economic framework to inform future policy decisions regarding the expansion of the commercial tax base.

Throughout Northern Virginia and beyond, Dr. Stephen Fuller has gained a reputation as the go-to source for information and analysis of Greater Washington’s regional economy. Through consistent monitoring of regional issues and the economy, the Stephen S. Fuller Institute is able to identify critical conditions and trends impacting the future vitality of the region’s economy. His presentations on research involving short- and long-term regional policy options ensure local business and government leaders are equipped with the data needed to make informed decisions regarding the region’s future. 

The meeting is open to members of the Prince William Chamber of Commerce and begins at 2 p.m. at Chamber Headquarters in Manassas, located at . Attendees are asked to arrive early to secure a seat as space is limited.

Those who are not current members, but believe that discussions like this are important to the region’s economy may contact Chamber Director of Government Relations Brendon Shaw to discuss attending as a guest: bshaw@pwchamber.org.

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