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Housing slowdown in D.C. area hurts schools
Jan 30, 2008 1:25 PM
The rapid cooling of the Washington, D.C., area's real estate market has hit school systems with force, ending years of plenty and compelling superintendents to ask their teachers, bus drivers and custodians to do more with less. Because school systems rely mainly on state and county government funding, and those governments draw most of their revenue from property taxes, a regional 7.7 percent drop in home values during the third quarter of last year has stopped the rapid growth of education budgets.
Click here to read The Washington Post article.
