A property tax paid by businesses in the Silver Line Phase 2 corridor has been helping to fund the infrastructure upgrades, even as delays have repeatedly stalled the Metrorail expansion.
The special tax has been 20 cents per $100 of assessed property value for nearly a decade and applies to commercial and industrial real estate. It can be used to pay up to $330 million of Fairfax County’s $527.3 million obligation for the project, which will extend the Silver Line from Reston to Ashburn.
As property values have dramatically increased over the last decade, the tax has brought in over $20 million annually in recent years. But an agreement with commercial and industrial property owners filed in 2009 locked in the current tax rate, according to the county.
“Per the terms of the petition for [fiscal year 2023], we can’t change the rate. So we’re going to have to keep it at 20 cents,” Fairfax County Debt Coordinator Joe LaHait said at an advisory meeting yesterday (Thursday). “And we’ve accrued quite a bit of cash — to the tune of almost about $66 million to date.”
The petition states the rate can’t exceed 20 cents per $100 of assessed property value as of the 2013 tax year and subsequent years before Metrorail service begins there.
County staff recommended keeping the rate the same for the upcoming year. The Phase 2 Dulles Rail Transportation Improvement District Advisory Board, which will meet March 29, will advise the Board of Supervisors in setting the rate.
While the tax rate can’t be changed just yet, the county is looking to reduce its debt, possibly paying off a loan in advance. The tax could be lowered in coming years before finally being phased out, possibly in the next decade or two.
Repeated delays have meant the Silver Line extension won’t open until this summer or later, but the Washington Metropolitan Area Transit Authority must give the final OK. Testing is 74% complete with trains and stations, and a rail yard is 63% complete, the county said yesterday.
Overall, office vacancy rates jumped from the end of 2020 to the end of 2021, but nonresidential real estate values have increased after a prior year decrease, County Executive Bryan Hill noted last month in a budget presentation.
In the year 2030, travelers on The One — the dedicated bus service planned for the Richmond Highway (Route 1) corridor — will be able to wait for their next…
Local organizations are exploring the possibility of creating a new icon for Reston. The icon would serve as a local, visible symbol that would be memorialized in sculptures across the…
Less than two years after overhauling its plan for the West Falls Church Metro station area in Idylwood to allow more development, Fairfax County needs to make a relatively limited…
Professional development right in Tysons Corner Effective leaders — across all disciplines and levels — are crucial to the success of any organization and it is mission critical to invest…
Synetic Theater Camps are a wildly fun, highly accessible choice for young people who love moving, playing games, and making memories. Registration is open now for Summer Camps (sessions June 20-August 25) and there are even a few spots left for Spring Break camp, April 3-7.
Located in National Landing, these performance-based camps are designed for students of all ages – no theater or performance experience required.
Led by professional teaching artists, campers learn acting, movement, and technical theater skills through the lens of Physical Theater. Physical Theater incorporates acting, movement, dance, mime, and acrobatics. If you’ve seen a Cirque du Soleil performance, you’ll find many similarities.
EDBS Dental Billing Solutions is pleased to announce that it has achieved compliance with the federally mandated standards of the Health Insurance Portability and Accountability Act (HIPAA) through the use of Compliancy Group’s proprietary HIPAA methodology, The Guard® compliance tracking software, and HIPAA Seal of Compliance®.
The HIPAA Seal of Compliance is issued to organizations that have implemented an effective HIPAA compliance program through the use of The Guard, Compliancy Group’s proprietary compliance tracking solution.
Clients and patients are becoming more aware of the requirements of HIPAA compliance and how the regulation protects their personal information. Forward-thinking providers like EDBS Dental Billing Solutions choose the HIPAA Seal of Compliance to differentiate their services.
McLean Volunteer Fire Department-Inova Blood Drive
MVFD has teamed up with Inova Blood Donor Services for a blood drive on Friday, March 31, in our lower parking lot at 1455 Laughlin Avenue. The blood drive will run from 1:30 p.m. to 5:30 pm. Please consider making
Van Metre 5K Run
Calling all serious runners, occasional joggers, and weekend walkers of all levels! Participate in the 31st Annual Van Metre 5K Run supporting Children’s National Hospital–the event that goes a long way!
Date: Saturday, April 29, 2023