LTE: Leesburg Resident for Metro
One homeowner believes rail means incremental higher RE values, even away from the stations.
To the editor:
I have been reading all the back and forth about rail to Loudoun and cannot understand why people think it is only cost and no benefit. I have done ROI (cost/benefit) evaluations for the private sector and understand they are based on information at hand. Doubters say the benefits are unrealistic but the fact is they are just as likely to be too low as too high.
In any event, there is one benefit that is not factored in any study and that is the benefit to the Loudoun homeowner. I live in Leesburg and I estimate the value of my house will be $50,000 higher in 2018 with Metro than without.
If I have to pay $200 a year in higher taxes, I am all for it. Why do I think my house will be worth so much more? Supply and demand. With Metro our housing market opens to an entire new set of buyers.
John Bischoff
Leesburg
[Editor’s note: As currently proposed, Leesburg residents and businesses would not be part of the Metro tax districts. Although, if the proposed districts do not draw the expected revenue, or costs rise, the county could consider another revenue source, including general tax dollars.]
CC Mojo
9:39 pm on Monday, July 2, 2012
Great letter! I am excited for Metro!
The Baconator
9:44 pm on Monday, July 2, 2012
I agree, why are people complaining about a small tax, when their property values are going to go up through the roof. Plus Bob doesn't even live in the new tax district, but you would think Metro is taking half his life savings in new taxes.
Victoria Glenn
10:24 pm on Monday, July 2, 2012
So glad some people understand how this will all work and benefit so many..YES to METRO!
CH
6:38 am on Tuesday, July 3, 2012
I also live in Leesburg and support the extension of Metro to Loudoun.
joe brewer
6:59 am on Tuesday, July 3, 2012
No way! My property value goes up and then the amount I pay in taxes goes up. Unless I am going to borrow or sell my home higher property values just increase my tax burden. I am equally sure that the writer of this article knew that home prices were going to fall due to the houseing fiasco we went through in the last few years. See the caveat including general tax dollars! No to Metro!
BCan
9:05 am on Tuesday, July 3, 2012
Um actually you will not be paying anything because the special tax district does not include any residential. Only commercial and future residential will be included in the tax district. Now with that in mind will you change your mind about phase II?
Also, regarding one of your previous posts when you stated "The metro silver lines biggest beneficiary is the MWAA yet they pay the least. Toll road , Fairfax and Loudoun all pay more then MWAA."
Well actually MWAA is contributing the most ($1.6 Billion) while Loudoun and Fairfax are paying less than half of what MWAA is paying ($240 Million and $500 Million respectively).
Vineet Aggarwal
9:22 am on Tuesday, July 3, 2012
Glad to hear that there is some fact checking going on with Joe Brewer's comments and the rest of the false information being spread by the Opt-Out clan.
joe brewer
12:21 pm on Tuesday, July 3, 2012
All the Mwaa contributes is the 4.1% the rest is tolls from mostly Loudoun County taxpayers, the MWAA is nothing but a conduit for the tolls. Do they pay taxes on the tolls? Probably not since I believe it's airport property now.[Editor’s note: As currently proposed, Leesburg residents and businesses would not be part of the Metro tax districts. Although, if the proposed districts do not draw the expected revenue, or costs rise, the county could consider another revenue source, including general tax dollars.] Just thought you ought to know that Vin. Only future residential and business will pay for it if any future occupants are willing to build in the districts. This line goes 3 miles into Loudoun, boondoggle is what you are celebrating. Open your wallets cause here come the MWAA, York, Buona, Williams, Letourneau and the turncoat Reid.
Vineet Aggarwal
12:33 pm on Tuesday, July 3, 2012
Joe, thanks for your analysis. The fallacy of your argument is that I am happy to open my wallet because I think this is a good thing for my county and totally worth every penny.
BCan
1:35 pm on Tuesday, July 3, 2012
If Loudoun changes the zoning so that super high density development can build in that area, then yes there will be a lot of development. If you look at Bethesda, Silver Spring, Crystal City or even White Flint, then you will see that the tallest buildings are densely crowded around a single Metro station. Businesses/Large Corporations will want to be directly next to a Metro station for countless reasons. They will pay the tax because they see the benefit of living near Metro and living in Loudoun. The Arlingtonization of Loudoun begins now.
Rob Whitfield
1:12 pm on Tuesday, July 3, 2012
The tax district proposed to fund Loudoun county's 4.8% share of rail project capital costs is not the major funding issue. Supervisor Williams did a good job to craft a district that will limit most Loudoun County costs to commerical and industrial owners plus future residential properties in the immediate transit station areas.
LoCo Board members failed to address the up to 75% share of Phase 2 costs to be paid by Dulles Toll Road users (with tolls paid after taxes!). Governor Kaine gave away away the Dulles Toll Road right of way, for no consideration, to MWAA, an unelected, unaccountable body, most of whose members do not even live in Virginia. The value of the taxpayer funded DTR asset was estimated to be $3.52 billion in 2008 by Virginia Department of Rail and Public Transportation.
BCan is deluded to think MWAA is providing $1.6 billion to the rail project. The MWAA 4.1% share from airport revenues will be under $250 million of the truncated project cost which requires Fairfax and Loudoun counties to use best efforts to fund Route 28 station plus five parking garages.
WMATA rail riders are not required to pay a nickel of capital costs and operating costs will be heavily subsidized by taxpayers in Fairfax and Loudoun counties. Those who think property values will go through the roof should stop listening to the smart growth crowd. Instead ask the opinions of experienced commercial property appraisers about what is happening in the world of finance.
joe brewer
1:58 pm on Tuesday, July 3, 2012
Dang Rob you do not need to drive a stake through their heart after that. Lets see bcan and vinny debunk anything you said. I know they can't!
Vineet Aggarwal
2:06 pm on Tuesday, July 3, 2012
Joe, in case it slipped past you, the board already voted FOR the Metro. No stake is being driven through the hearts of people that were FOR the Metro -- we got what we wanted. You may as well give it a rest now -- it's going to happen.
Rob Whitfield
2:27 pm on Tuesday, July 3, 2012
Well folks, there you have what I warned about in earlier posts from BCan "The Arlingtonization of Ashburn, exxcuse me, Loudoun, begins now."
Several months from now, Loudoun County employers, especially government contractors, will start handing out RIF notices and pink slips after Congress fails to agree on spending cuts for federal agencies.
Bob Bruhns
2:48 pm on Tuesday, July 3, 2012
The 'whoopee, rail rail rail' party will carry on until January 2013. Then, when the tolls hit, and cars flood the side roads in Fairfax County, there wil be such screaming that Billion Dollar Bonds for toll paydown will quickly be adding $50 to $70 million to the annual taxes in Fairfax County, and probably also in Loudoun County, on top of all other taxes. The businesses in the rail tax districts will have been clever and will have capped their contribution, so this will come from the homeowners and businesses across the counties. Then, WMATA will need $13 billion for deferred maintenance, and jams at the Rosslyn Tunnel will cause more screaming, so some more extra taxes will be coming your way as well. But the federal jobs will not come back, so things are going to get very difficult, very quickly.
The pen-name posters who said this would just be sooooo great, will have vanished. The GMU economist will be saying "Well, I TOLD you about the job situation." And then he'll retire, and move away. So who will you yell at? Not me, I hope. I tried to warn you, but you wouldn't listen.
t_joseph
8:57 am on Thursday, July 5, 2012
Bob
just a reminder - i was waiting to hear back from you and better understand your response to my new offer. you may not have seen that in the other article/section
thanks
t_joseph
Dusty Smith
4:08 pm on Tuesday, July 3, 2012
OK, guys. Let's settle down and focus on the subject, not attacking each other. I've just deleted several comments. If I missed, please flag them.
BCan
4:15 pm on Tuesday, July 3, 2012
Yes, tolls are going up, but MWAA is allowed to do that, VDOT approved it. But remember that rising tolls are mutually exclusive to Loudoun County opting in. This would have happened regardless. In fact, I think that it is a way of promoting the use of the Metro and getting cars off the road. So yes, technically MWAA is paying $1.6 Billion via the toll road. Rob, I know that you are totally against the Metro but seriously now, this is going to be so beneficial to the commercial growth of Loudoun that in the long term all of the costs will be offset by the commercial tax base. The long term goes on forever... we will be using Metro forever after. So no complaining!
The funding strategy is here on slide 15.... http://www.committeefordulles.org/pdf/120621Potter.pdf
Vineet Aggarwal
4:16 pm on Tuesday, July 3, 2012
Thanks for doing that...not sure where the personal attacks were coming from, but couldn't help myself from responding. Agreed that we should stick to the subject.