REALTORS® in Northern Virginia Respond to the Tax Increase Proposal

REALTORS® across Northern Virginia united to voice their concerns about the recent tax increase proposals to fund Metro. “While we are supportive of Metro, we are concerned about the impact this additional tax burden will have on Northern Virginia homeowners,” said Holly Weatherwax, President of the Dulles Area Association of REALTORS® (DAAR). Along with DAAR, members of the Northern Virginia Association of REALTORS® and the REALTOR® Association of Prince William signed a joint statement regarding the Metro funding proposal. You may read the full statement at http://dullesarea.com/wp-content/uploads/2018/01/Joint-REALTOR-Statement-Regarding-Metro-Funding-Proposal.pdf.

On December 18, 2017, then-Governor Terry McAuliffe proposed that Northern Virginians pay higher taxes to provide a dedicated funding stream of $150 million per year to Metro. Included in his proposal was an increase of $.10 to the current Northern Virginia regional grantors’ tax (“congestion relief fee”). This would bring the regional tax to a total of $.25/$100. When added to the statewide tax on property owners, Northern Virginia homeowners would pay $.35/$100 in taxes. This increase will result in hundreds of additional dollars that only Northern Virginia homeowners would have to pay.

Other provisions in his proposal included setting a floor on the regional gas tax and raising the hotel tax in Northern Virginia from 2 percent to 3 percent. Additionally, $85 million would be taken from the Northern Virginia Transportation Authority (NVTA), which currently is funded through regional taxes on Northern Virginians.

Members of the General Assembly are debating the proposals and have offered alternatives for funding Metro. “It is imperative that our homeowners have a voice in the debate since Metro is coming to Loudoun County,” said Weatherwax. “We all want a Metro system that is safe and effective.”

Questions, contact Brenda Morton, Government Affairs and Communications Manager, at (703) 777-2468 or bmorton@dullesarea.com.