Fairfax County could soon more than double funding for its affordable housing loan program, with local leaders starting work on a new budget that would offer up more than $45.7 million to power affordable development. County Executive Bryan Hill presented his budget proposal for fiscal year 2021 to supervisors Tuesday, which includes a real estate tax hike designed in part to fuel Fairfax’s affordable housing efforts. In all, he’s pitching a 3-cent increase on that tax rate, with one penny dedicated specifically to the loan program: the equivalent of about a $26.5 million increase. Read More...
Fairfax County could soon massively ramp up its affordable housing spending
Fairfax County could soon more than double funding for its affordable housing loan program, with local leaders starting work on a new budget that would offer up more than $45.7 million to power affordable development. County Executive Bryan Hill presented his budget proposal for fiscal year 2021 to supervisors Tuesday, which includes a real estate tax hike designed in part to fuel Fairfax’s affordable housing efforts. In all, he’s pitching a 3-cent increase on that tax rate, with one penny dedicated specifically to the loan program: the equivalent of about a $26.5 million increase.
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