Today I stumbled across the dollar value of the 1961 Town of Vienna operating budget, in an old Town of Vienna newsletter. It seemed small to me, even after considering inflation. So I decided to compare a few key statistics for the Town of Vienna, 1960 (ish) versus 2023 (ish). And, in fact, it was small.
N.B., one U.S. dollar, in 1960, was worth just over $10, in current (July 2023) currency. Actual silver coinage (90% silver coins) did not disappear from U.S. circulation until 1964.
Town of Vienna, VA: 2023 versus 1960
Population: 43% increase
- Per the 1960 Census: 11,500
- Per the 2020 Census: 16,500
Dwelling units: 100% increase:
- Per the 1960 Census: 2,750
- Per the 2020 Census: 5,600 (est).
Persons per household: 26% decrease.
- Per the 1960 Census: 4.1
- Circa the 2021 Census: 3.03
N.B. 2 x .74 = 1.48, so even though the data above come from different, independent data sources, the math very nearly reproduces the actual increase in population (44%, not 48%) over the period.
Median house price: Roughly five-fold increase.
- Per the 1960 Census: $18,400
- The 1960 price in 2023 dollars: $189,000
- 2023 median (estimated), all houses: $900,000.
- 2023 median, listed for sale: $1,030,000
Town of Vienna operating budget: Roughly 10-fold increase.
- Per the June 1961 TOV newsletter: $462,000.
- The 1960 cost in 2023 dollars: $4,800,000.
- The 2023-24 actual cost: $50,000,000
Most of the operating revenue for the Town comes from real estate taxes. To reconcile the 10-fold growth in house prices, and the five-fold growth in the cost of government, you have to know that the tax rate per $100 of market value fell by roughly 50% over this period. In 1961, it was $1.35 per $100, assessed at 32% of market value, or (1.35 x .32 =) 0.42 per $100 of market value. That, from the June 1961 Town newsletter. Currently, the rate is just over $0.20 per $100 of market value, per the 2023-24 Town budget.
References:
1960 Census of Population and Housing: https://usa.ipums.org/usa/voliii/pubdocs/1960/pubvols1960.shtml
2020 Census: https://www.census.gov/quickfacts/fact/table/viennatownvirginia/PST045222
Town of Vienna 1961 newsletter: https://www.viennava.gov/engagement-central/newsroom/vienna-voice-town-newsletter
Town of Vienna operating budget: https://www.viennava.gov/your-government/town-budget
Inflation calculator: https://www.usinflationcalculator.com/
