The ¾-mile radius surrounding the Potomac Yard Metro and the Tier II Special Tax District established in 2011. This graphic was used by the Potomac Yard Special Tax District Committee for Tax Fairness’ presentation to the City Council on May 15.
In the May 15 public hearing prior to the City Council’s major Potomac Yard Metro decision, residents of the local special tax district spoke out against what they saw as being unfairly targeted. The Potomac Yard Tier II Special Tax District, adopted in 2011, has a 10 cent real estate tax rate that would be applied after the Potomac Yard Metro station opens in 2019 and would continue for 27 years until the bonds are fully repaid. The tax district is estimated to generate $20.3 million towards the $392.1 million total debt service and operating costs of the metro station.
Eleven residents from the within the tax district boundaries spoke out as part of the Potomac Yard Special Tax District Committee for Tax Fairness. According to the group, other single family neighborhoods in the area are the same ¾-mile radius from the proposed metro station. The group proposes that either the Tier II Special Tax District be shared equally to residents within the ¾-mile radius or that single family residents be excluded be from the tax district.
Mayor Bill Euille emphasized that no action was being taken at the public hearing and that city staff would continue to look into adjustments to the financing plan before the City Council votes on the proposed metro plans on May 20.