Builders & Business Leaders Push Regional Tax Plan
			Posted : Friday, June 22, 2007 11:45 AM EDT Author : Leesburg Today, by Dusty Smith Category : Business, Real Estate News
			More than 30 speakers turned out last night (Thursday, June 21, 2007) for County Chairman Scott K. York's (I-At Large) public input meeting about a regional tax plan the Northern Virginia Regional Tax Authority is set to vote on as early as next month. Business leaders, builders, Dulles Airport advocates and industrial and office property owners turned out to voice their support for the series of taxes that advocates estimate could raise as much as $400 million annually. Several speakers acknowledged that it's not enough to completely pay for the roads needed in the region, but said it's a good start. Those speakers urged York and the NVTA not to delay its decision to implement the new tax plan. Of 31 speakers, six spoke against the regional plan, or at least pushed to delay its implementation, while two others representing the real estate community opposed the 40 cents per $100 increase in the grantor's tax, charged to those selling their homes. The grantor's tax levy is now 10 cents per $100 of sales value. Some opponents requested a delay in the implementation to make sure there are not unforeseen consequences. York had attempted to delay a vote on implementing taxes for at least 30 days after the NVTA's scheduled July 12 hearing, but failed to win support from fellow NVTA members. York called last night's meeting to garner input from county residents before he casts any votes as the county's representative on the NVTA, which was created several years ago to implement transportation projects but has not been funded until now. The group has the option of raising a series of seven taxes, and if combined with two local tax options that localities have for transportation revenue, the region could see as much as $400 million in new transportation funding. Of that revenue, $39.8 million would be raised in Loudoun. Of the regional tax revenue, 60 percent would be dedicated to regional projects. The top priority will be to pay debt service on bonds that will be used to pay for unidentified priority projects. The next $50 million would go to Metro and the next $25 million would be marked for the Virginia Railway Express. The remaining 40 percent would be distributed among localities with the first half going to urban and secondary road projects. The other half could also go to urban and secondary roads or to projects in the 2030 regional transportation plan or transit projects. According to information handed out at Thursday's meeting, Loudoun would expect to get about $16 million back from the $39.8 million it contributes, with the rest paying debt service on bonds or to be used for transit projects. In addition, Loudoun has a local option to raise taxes on commercial and industrial properties and to raise a $10 local vehicle registration fee. Those two options are estimated to produce an additional $14.6 million for the county. That amount would include a commercial and industrial real estate tax of 25 cents per $100 per assessed value. Comments may be made regarding the NVTA proposal by mail at 3060 Williams Drive, Suite 510, Fairfax, VA 22031. Comments may be submitted to York via e-mail at syork@loudoun.gov, or by phone at 703-777-0204. For more information, visit the NVTA Web site at www.thenovaauthority.org. The NVTA public hearing will begin at 6 p.m. July 12 at Mary Ellen Henderson Middle School in Falls Church.