THE RESPECTIVE PUBLIC POLICY COMMITTEES and the leadership teams of NVAR, the Dulles Area Association of Realtors® (DAAR) and the Realtor® Association of Prince William (PWAR) reviewed the Governor’s proposed Metro funding package in January. Below is the joint position developed by the three associations, which guided advocacy efforts on this important issue in the General Assembly:

Realtors® in the greater Northern Virginia region have long been supportive of strengthening and improving Metro which is a vital component to the economic success of the greater metropolitan area.

To that end, we recognize additional dedicated and sustained funds are needed. In the past, Realtors®   have been willing for the real estate industry to be part of regional transportation solutions.

Governor McAuliffe’s proposed 2018 budget includes an increase of 10 cents in the current Northern Virginia regional grantors’ tax (“congestion relief fee”). This would take the regional tax to a total of 25 cents/$100.  The total grantor’s tax that property owners would pay is 35 cents/$100 which includes the 10 cents/$100 collected and provided to the state. While Realtors® remain committed to Metro funding, we do have serious concerns. First, the timing of this proposal comes on the heels of federal tax reform, which is ultimately going to add additional costs to homeowners in this region and discourage some from homeownership. Second, Realtors® are concerned about the continued reliance on real estate to fund government services.

We are supportive of a dedicated funding stream for Metro that is broad, without a disproportionate reliance on real estate, and that includes state and federal funding.