Silver Line Supporters Hinting Residential Real Estate Tax Hike Will be Needed
Tunnel or no tunnel, escalating costs for materials likely means that construction of the Silver Line will cost much more than the projected $4 B. (That's a lot of money for no traffic relief.) With the federal and special tax district shares limited, that certainly means a residential real estate tax hike to pay for construction. Actually, it will be more than one tax hike as the project is built over time.
Silver Line supporters have moved from their less-than-honest position that the project will be built on budget. They have started to drop hints that additional funds must come from the Fairfax County general fund. Well guess who puts money into that account? Real estate taxpayers, the bulk of whom are individual residents of the county.
One alternative might be "tax increment financing" where only tax revenues from increased valuations within the specific area to be served by rail would go to pay for Metro's excess construction costs. Apparently, however, the business community doesn't like this approach. Since the Connolly Administration represents "government by campaign contribution," expect this wish to be carried out with all due speed. Remember that Gerry has previously worked for the West Group companies and now works for another big Tysons landowner, SAIC. Expect to see your taxes raised to benefit a few big campaign contributors.
What's the difference between Gerry Connolly and Tom DeLay? Gerry's still in office!
Silver Line supporters have moved from their less-than-honest position that the project will be built on budget. They have started to drop hints that additional funds must come from the Fairfax County general fund. Well guess who puts money into that account? Real estate taxpayers, the bulk of whom are individual residents of the county.
One alternative might be "tax increment financing" where only tax revenues from increased valuations within the specific area to be served by rail would go to pay for Metro's excess construction costs. Apparently, however, the business community doesn't like this approach. Since the Connolly Administration represents "government by campaign contribution," expect this wish to be carried out with all due speed. Remember that Gerry has previously worked for the West Group companies and now works for another big Tysons landowner, SAIC. Expect to see your taxes raised to benefit a few big campaign contributors.
What's the difference between Gerry Connolly and Tom DeLay? Gerry's still in office!
posted by Toomanytaxes at 7:33 AM
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