The Senate Finance Committee passed a bill Wednesday that would reduce the amount of money localities can collect from developers.
This bill would restrict fees per home to $8,000 per single-family home in most of Northern Virginia’s communities and $5,000 for each home in other localities with at least a 15 percent growth rate. Currently, Loudoun County collects proffers of $47,000 per home, according to The Washington Post. Prince William County charges developers almost $38,000 per home.
Under the current system, localities can require governments to pay proffers to localities to pay for the increased demand on public services and education.
Supporters of the bill argue it will help reduce home prices.
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