The Loudoun County, VA, Board of Supervisors has decided to fund its $270 million share of the Silver Line to Washington DC's Dulles Airport by taxing landowners around its two METRO stations -- which some say could create a prototype for financing transit projects nationwide in coming decades. The idea that only those residents and property owners who will benefit most from the line would pay for it helped to win the support of fiscally conservative county officials, who couldn't endorse the idea of taxing all county residents. The Board of Supervisors established special tax districts of commercial and undeveloped properties surrounding future stations, with properties within a half-mile paying a tax of 20 cents per $100 of assessed value and properties further away paying less. Most current residential properties would be excluded from this district, though future residential development would be taxed. Earlier, writing on DC Streetsblog, Jay Corbalis, regional coordinator of the developers group LOCUS, wrote that "Politically, value capture impacts fewer people than broad-based taxes like sales and gas taxes, and those who are affected stand to benefit directly from the investment, making it an easier sell."
Read more on the Bacon's Rebellion. Read the earlier story on DC.Streetsblog.


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