A pressure reducing valve for coupling to a pressurized water supply line includes a valve body with an inlet for coupling to the pressurized water supply line, an outlet, a passage extending between the inlet and the outlet, and a valve seat in the passage at or adjacent the inlet. A valve stem extends into the passage, which has a sealing member. An automatic pressure reducing system is provided for urging the sealing member toward the valve seat for throttling the valve to thereby reduce the pressure at the outlet. The valve also includes a manual system that is decoupled from the automatic pressure reducing system for manually urging the sealing member toward the valve seat for closing the valve.