The Fairfax County Board of Supervisors has increased the rates that property developers pay in certain areas to support transportation projects, citing inflation-related pressure.
The board approved 7.5% increases on March 22 for road funds in Centreville, Fairfax Center, Reston, and Tysons. The new rates will go into effect tomorrow (Friday).
The payments are intended to offset the impact of increased density or intensity from developments.
The revenues support various transportation upgrades, including bridge and interchange projects on interstates and primary roadways, new street connections, and pedestrian, bicycle, and parking facilities.
Projects that have benefitted from the road funds so far include portions of the Fairfax County Parkway widening and improvements to the Route 29 and West Ox Road interchange in the Fairfax Center area.
The rates are reviewed each year, and the county has typically raised them between 2% and 3% over the last decade.
The county said the rates are tied to a consumer price index and have been increasing due to inflationary construction costs for road projects. They make up a small part of developers’ overall housing costs.
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