A Penny Goes A Long Way

Panel proposes a dedicated funding stream from real estate tax for affordable housing.

A panel of planning and housing officials has proposed a new funding stream worth $17.5 million to help preserve 1,000 existing affordable housing units in Fairfax County, Virginia, a suburb of Washington, D.C. The money would come from an existing real estate tax and would be equivalent to one cent of the $1.13 per $100 of assessed value tax. As the Washington region continues to suffer from an affordable housing crisis, Fairfax County's plan is an example of efforts to keep workers living close to their jobs. "The more we force people who work for this county and who serve us to move further and further out . . . the more we are going to be all living in the type of congestion that we all say we need to avoid," said County Board Chairman Gerald E. Connolly. Local housing advocates applaud the plan but point out that the funding only preserves existing affordable unit and does not produce new units.

Thanks to Peter Buryk

Full Story: Fairfax Revenue May Go to Housing

Comments

building block set

NEW! Build the world you want to see

Irresistible block set for adults when placed on a coffee table or desk, and great fun for kids.
$25
Red necktie with map of Boston

For dads and grads: tie one on to celebrate your city!

Choose from over 20 styles imprinted with detailed city or transit maps.
$44.95

City Coasters

Hand-drawn engraved maps of your favorite neighborhoods are divided up across 4 coasters making each one unique.
$36.00
Book cover of the Guide to Graduate Planning Programs 4th Edition

Thinking about Grad School?

New! 4th Edition of the Planetizen Guide to Graduate Urban Planning Programs just released.
Starting at $24.95