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Free Enterprise Forum Releases Hindsight Report

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Free Enterprise Forum's Hindsight Report Free Enterprise Forum's Hindsight Report
Neil Williamson Neil Williamson
CHARLOTTESVILLE, Va. (WVIR) -

A new report calculates how much a 35-year-old deal, blocking Charlottesville from expanding its borders, is costing tax payers.

The Free Enterprise Forum released its Hindsight Report Monday, July 31.

The report compares 15 years of Albemarle County tax revenue with payments the county made to the city, as part of its revenue sharing agreement.

The report reveals the county generated $64 million more in tax revenue for land surrounding the city than it paid to Charlottesville.

“The revenue generated from that area is significantly higher than the revenue-sharing payments made on an annual basis to the tune of millions and millions of dollars to the benefit of the coffers of Albemarle County,” said Free Enterprise Forum President Neil Williamson.

The report also says by not being able to expand its borders, the city missed out on nearly $92 million in tax revenue during those 15 years.

However, property owners in that area saved money by paying the county instead of the city.