Monday, Jul 06, 2015

New Study Debunks Myth Concerning Cost of New Housing in Loudoun County

Leesburg, VA—Two recently published articles in The Washington Post and the Loudoun Times-Mirror call attention to a new study stating that, for each new residential unit, Loudoun County pays 42 cents less than calculated in an earlier study. Shareholder Andrew Painter is quoted in both articles, stating that the purpose of the study “is to show that the homes that are being built are positive for the county.”

All-In Loudoun, a group of Loudoun County citizens, companies, and development entities, commissioned the study to respond to the County’s assertion that new homes are a burden on its coffers, which assertion is based on a 2011 study that found every new residential unit in the County costs $1.62 for every $1.00 in taxes paid by the unit. In a press release issued by All-In Loudoun, Andrew states that the new study “shows that new homes are raising the average assessment in the county and that most of the product we’re building is helping to dilute the historic burden of housing. And that’s a good thing for taxpayers.”