Fairfax County Executive Edward Long presented his fiscal years 2014 and 2015 budget forecast to a joint meeting of the Board of Supervisors and the School Board.
Even without any sequestration impact, he projects a $169 million shortfall for 2014 and a $274 million shortfall for 2015. Those shortfalls are based on keeping the tax rate where it is while providing a 5 percent increase in the school budget.
It's also projected real estate assessments will be going up, which means even with the current tax rate, the average homeowner would pay $120 more than fiscal year 2013.
As Long explained, one reason for the projected shortfall is the fact that there are some big costs coming in the next two years -- like the Silver Line -- that will eventually bring revenue.
County agencies have already been instructed to identify reductions totaling 5 percent for each year.
If sequestration takes effect, the scenario gets even worse.