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Governor's Transportation Package

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Tuesday, May 13, 2008

Virginia Gov. Timothy M. Kaine (D) offered a package of tax and fee increases yesterday that would raise about $1 billion a year to spend on roads and transit statewide. Lawmakers will consider the plan June 23. Here are the highlights:

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· Increase the sales tax on cars from 3 to 4 percent and the yearly vehicle registration fee from $39 to $49. The money would pay for road maintenance.

· Raise the tax assessed on home sellers, now 10 cents per $100 of assessed value, by 25 cents and use the proceeds to create a "transportation change fund" to increase investment in transit, rail and innovative solutions to reduce traffic congestion.

· In Northern Virginia and Hampton Roads, increase the sales tax from 5 cents to 6 cents on the dollar, except on food and medicine. The money collected in Northern Virginia would go to the Northern Virginia Transportation Authority, which would decide how to spend it.

For more information, go tohttp://www.transportation.virginia.gov.


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