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Even wealthy school districts are feeling the pinch.

In the booming Northern Virginia county of Fairfax, school officials are contemplating cuts such as requiring students to pick up their own tabs for Advanced Placement tests.

It’s all a reversal from recent years, when home values in many parts of the country skyrocketed and schools pocketed extra money in property-tax revenue.

It’s unclear how much property values could come down, and the timing could vary nationwide, since homes are reassessed on varying schedules.

“The watchword right now is: Wait and see,” said Michael Griffith, a school-finance analyst at the Education Commission of the States, based in Denver.