Residents argue against Metro tax
Potomac Greens residents are continuing their fight against a special tax district to raise money for the Potomac Yard Metro station project in Alexandria.
"They are targeting us and it is ridiculous," said Roger Nisley, a Potomac Greens resident. "This is not about Metro. It is about the fairness of it."
City officials had proposed two special tax districts in the 295-acre Potomac Yard -- 10 cents or 20 cents per $100 of assessed value on a property tax bill -- that would supplement developer contributions and tax increment financing (TIF) to cover the cost of the $240 million Metro station and its debt service, totaling an estimated $496.6 million.
The TIF would dedicate a percentage of the tax revenues generated from the new developments directly toward building the Metro station.
Potomac Greens residents are currently part of the plans for the 10-cent tax district that would begin when the proposed Metro station opens in 2016. The district would raise an estimated $750,000 a year. Of that, the 227 townhouses in Potomac Greens are estimated to generate more than $180,000, said Mark Jinks, Alexandria's deputy city manager.
Residents suggested redrawing the district boundaries to include only new developments on the west side of the railroad tracks. That would increase the proposed 10-cent special tax district rate to about 13.2 cents, Jinks said. Others suggested a city-wide tax increase of 0.2 cents, Jinks said.
These and other revenue-generating options will be presented at a Dec. 18 city council meeting.
| December 2, 2010; 1:00 PM ET
Categories: Metro, Northern Virginia, Transportation Politics, Virginia
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