REALTOR® Association of Prince William (PWAR) is partnering with REALTOR® associations throughout the region to identify a dedicated revenue source for METRO. In order to maintain a state of good repair, Virginia, Maryland, and Washington, D.C. must identify a revenue source equaling $500 million with Virginia’s share being approximately $154 million per year.
In his budget proposal, Governor McAuliffe proposed generating this revenue through increasing regional taxes including the transient occupancy tax and the grantors’ tax. He also proposed dedicating state revenue and revenue that is currently utilized by our regional transportation planning body, the Northern Virginia Transportation Authority (NVTA). Legislators are continuing to have discussions with stakeholders and taking in to account REALTORS® concerns about a disproportionate reliance on real estate. The funding proposal continues to evolve and will need to be agreed upon by both the House and the Senate.
This past Thursday, PWAR, along with representatives from NVAR and DAAR, continued this conversation with Virginia’s Secretary of Transportation, Shannon Valentine. This issue is at the top of her priority list and she assured us that the Northam administration is diligently working to find an equitable solution.
Next Wednesday, our Legislative Committee will welcome Prince William County Supervisor and Chairman of the NVTA, Marty Nohe to discuss the issue further. If you are interested, we hope you will join us to learn more.
Legislative Committee Meeting
Wednesday, February 7, 11:00 am – 12:00 pm
4545 Daisy Reid Ave, Ste. 150
Woodbridge, Va 22192