Northern Virginia Real Estate
higher taxes
Submitted by Steve on Thu, 2006-02-09 22:21.
Gov. Tim Kaine (D), the leadership of the Virginia Senate and a group of Northern Virginia legislators are suggesting a variety of tax and fee increases that, if approved, would have local residents paying more to buy a car, to register that car, to gas it up, to maintain it and to pull it into the garage of a brand new house.
Kaine and the senators aim to raise roughly $1 billion a year with their plans for road and mass transit projects across the commonwealth.
The other plan, submitted by delegates Tom Rust (R-86th) of Herndon, Dave Albo (R-42nd) of Springfield and central Fairfax Sen. Jeannemarie Devolites Davis (R-34th), would raise up to $300 million for Northern Virginia.
“This will be a struggle, and we understand that,†Rust said, “but everywhere I go, regardless of who I’m talking to, the number one issue on their mind is transportation.â€
The largest component of the regional proposal would create a “transportation impact fee,†charging 20 cents per $100 of value on the sale of any residential or commercial land, similar to the existing recordation tax.
Noting that traditional impact fees would apply just to new development, Albo said the group wanted to make the fee, which will be reflected in the closing costs, equitable for sales of new and existing properties.
“I am hard pressed to believe someone would not buy a house because the settlement costs went up,†Davis said. “This is a sensible way to have those moving into our community make a small down payment for transportation, something they clearly are going to utilize.â€
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