This Just In: VA Supreme Court To Northern Virginia: No New Taxes!!
February 29th, 2008 Categories: Around Arlington County, Local Real Esate Sales Numbers & Things, Outside The Beltway, Sellers
Today the Virginia Supreme Court ruled that the Northern Virginia Transportation Authority is unconstitutional. You can read the entire decision here.
The NVTA was created by the Virginia General Assembly earlier this year, to levy taxes for Northern Virginia transportation projects. I wrote about these increases in more detail back on July.
In an unanimous opinion, the court said that legislators improperly delegated taxing powers to the unelected members of the NVTA.
This decisions affects the recent increase in the grantors/transfer tax homeowners pay when they sell their homes, in addition to some other taxes that were increased in in January to help pay for the $300 million needed in bonds to finance planned transportation projects.
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| Discussion: 2 Comments »
This was a great ruling. I also wrote about it at http://www.therealestatebakery.com. I am pretty sure that they now have decided to give the refund. The only bad thing is that Kaine loves to tax and NVTA is struggling so they are going to make up this tax in other ways. The good part is that it won’t be on the back of struggling sellers. Good article.
No new taxes is what we love to hear! Just checking in and sending {hugs} regarding recent computer hacker