Revenues
In total, the regional fees anticipated to be applied would generate an additional $170 million per year towards critical regional transportation projects. Toll revenues would be additional funds available to the HRTA. Also, optional local taxes could generate additional revenue annually for local transportation projects.
As of February 6, 2008, the taxes scheduled to go into effect in the HRTA area on April 1, 2008 were:
- $10 automobile inspection fee
- 5 percent tax on automobile repairs
- Grantor's tax of 40 cents for every $100 of assessed value when selling a home
- Motor vehicle rental tax of 2 percent
- One-time vehicle registration fee of 1 percent
- Annual vehicle registration fee of $10
- 2 percent gas tax
Read more about this topic: Hampton Roads Transportation Authority