Businesses and residents will pay 7 to 9 cents more per $100 of assessed value, generating $253 million over the next 40 years.
The Fairfax County Board of Supervisors voted Tuesday to increase property taxes on Tysons residents and developers as a means of partially funding billions of dollars in transportation infrastructure that will help turn the area into the county’s walkable, mixed-use downtown center. The decision, which passed by an 8-2 vote, came about a month after a two-hour public hearing in which many angry Tysons residents objected the tax hike. With an expected increase of between 7 and 9 cents per $100 of assessed value, the district is expected to generate $253 million over the next 40 years. The exact rate will be set during the adoption of the county’s Fiscal Year 2014 budget in April. After a rate is set, tax collection in the new district …
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If taxes go up, what would you have to cut out of your family's budget?
In his weekly radio and Internet address Saturday, President Obama said the average middle-class family of four could pay $2,200 more in taxes next year if the United States goes over the so-called "fiscal cliff." The amount works out to more than $75 per paycheck, every two weeks. Obama said Republicans could give families “a sense of security going into the New Year” by extending tax cuts for the middle class. The president visited a family in Falls Church Friday to talk to them about the possibility of having to pay more in taxes. You can see what others across the country are saying about the issue on Twitter by viewing tweets with the hashtag "#my2k." Would you have to cut back on anything in your household in order to pay those …
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Ana Hamdi
12:25 am on Tuesday, January 15, 2013
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