The Tysons Transportation Service District was created by the Fairfax County Board of Supervisors on January 8. Within this Tysons Transportation Service District, funding mechanisms (taxes) were approved to help pay for the new roads and public transportation that will be needed to support the future, densely developed and urbanized Tysons. These new taxes will affect the approximately 6,000 commercial and residential properties in Tysons, and will be paid based on assessed property values. The tax rates will not be set until adoption of the next Fairfax County Budget, which is generally considered by the Board of Supervisors in April of each year. More information about the newly created Tysons Transportation Service District can be located starting on Page 87 of the January 8 Fairfax County “Board Package”, and which can be found at the following location:
A series of property maps that highlight all of the properties that are affected by the implementation of the Tysons Transportation Service District can be found on Fairfax County’s website at this location:
At this same public hearing, the Board of Supervisors adopted “Tysons-Wide” and “Grid of Streets” transportation funds; the guidelines associated with each fund; and adjusted the annual rate on the existing fund to reflect inflation. The new funds, guidelines, and the rate change will become effective on February 1, 2013. Additional information about these newly adopted funds can be located starting on Page 91 of the January 8 Fairfax County Board Package, and which can be located at the following location:
According to Fairfax County, it is estimated that the fund for the Grid of Streets will generate approximately $300 million over the next 40 years, and the Tysons–Wide fund will collect approximately $253 million during the same period. Developers within the Tysons Transportation Service District must contribute into these funds at the following rates:
- “Grid of Streets” – $6.44 per square foot of commercial development and $1,000 per residential unit.
- “Tysons-Wide” – $5.63 per square foot of commercial development and $1,000 per residential unit.