UPDATE 2/15/12:The County Board has advertised a $.02 tax rate increase - I have updated the calculator to reflect that.

Last night the County Manager presented her proposed Fiscal Year 2013 County budget at a County Board work session. The proposed budget represents a 2.1 percent increase from the FY 2012 Adopted Budget; excluding the increased transfer of funds to Arlington Public Schools, the county side of the budget increases only 1.6 percent over last year.

The proposed budget calls for a property tax increase of half a cent per $100 of assessed value, but the manager recommended advertising a potential increase of 1.5 cents to give the County Board some leeway to tweak the budget. (The County Board can adopt a tax rate anywhere at or below the advertised tax rate).

For those wondering what this might mean for your property tax bill, I've put together this handy calculator.