Va. Panel OKs Funds, RE Tax Hike For $3.1B Transit Project

Law360, New York (January 9, 2013, 4:03 PM EST) -- In a controversial move, a Virginia county board on Tuesday voted to raise real estate taxes, as well as create two new developer-bankrolled transportation funds, to help pay for $3.1 billion in transit-related projects for the Tysons Corner area.

The Fairfax County Board of Supervisors vote for the property tax did not have the backing of the supervisors who oversee the newly affected service district. While the exact rate increase has not been determined yet, and will be finalized by the state Legislature later this year,...
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