Prince William surplus, data-center taxes and new reserves shape 2025 budget outlook

Prince William County’s finance team reported a $68.7 million audited general revenue surplus for fiscal 2024 and told the Board of County Supervisors the county’s revenue mix is changing rapidly because of revenue tied to data centers and associated computer equipment and peripheral (C&P) valuations.

The disclosure came during an economic and revenue briefing led by Tim LeClaire of the county finance department. He told the board national indicators were “neutral” — job growth and inflation moving in opposite directions — but that local revenue was holding up. LeClaire said data-center-related tax streams (real property and C&P taxes, plus personal property on equipment and some business license filings) were large contributors to recent revenue growth.

County staff summarized how the $68.7 million surplus will be used. After required increases to the unassigned fund balance and a 2 percent revenue stabilization reserve, the county executive recommended programmatic uses including $5.6 million to seed a newly created data center revenue stabilization reserve and $5 million for an…