Fairfax County Approves Tax District for Dulles Rail
Updated at 8:15 PM EST on Tuesday, Dec 22, 2009
The Fairfax County Board of Supervisors has given final approval for a new tax district that will help pay for three planned Metro stations in northern Virginia, the Washington Post reported.
A group of landowners has been pushing for a new property tax to raise $330 million to extend the rail system from Reston to Dulles International Airport.
It's an odd position for the landowners. They had to plead with officials to impose the tax on them. Supporters of the plan said almost 61 percent of affected landowners lent their support. They did it because they believe the new rail stops will bring profitable development opportunities.
The tax district plan calls for an initial rate of 5 cents for every $100 of commercial property value. The rate will increase by 5 cents a year to 20 cents in 2013.
Copyright Associated Press