Tysons Transportation Service District Rate Options Tysons Transportation Service District Advisory Board April 3, 2013

1. Tysons Transportation
Service District
Rate Options
Tysons Transportation Service District Advisory Board
April 3, 2013
1

2. Recap March 18th Meeting
• Stable rates - Proposed to remain unchanged for much of the
life of the tax district
• Modeled at $0.09 and $0.07
• Step rates - Proposed to start low and then increase annually
to a longer term rate. Two models were provided:
• Modeled by starting at $0.04 and increasing annually by $0.01 to
$0.09 and
• Modeled by starting at $0.04 and increasing annually by $0.01 to
$0.07
• Both options included funding the $253 million requirements
through Pay-Go and Bond Financing
2

3. Follow Up Request from March 18th
Meeting – New Tax Rate Model
• Created new model in response to Advisory Board requests to:
• Model a closer relationship of revenue and expenditures
• Evaluate reduction in tax rate in later years
• Extend payoff period
• Illustrate relationship with Dulles Rail Phase 1 Tax District
• Conscious of 29 Cent Planning Cap
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4. Modified Bell Curve Approach
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5. Characteristics of Modified Bell Curve
Approach
Model Results
• Payoff period finishes in 2048
• Reduces tax rates in last years
• Most years at $0.06 tax rate
• Increases gross tax revenue contributions
• When combined with Dulles Rail Phase I, does not
exceed $0.29 planning cap
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6. Tax Rates for Bell Curve
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$-
$0.01
$0.02
$0.03
$0.04
$0.05
$0.06
$0.07
$0.08
$0.09
$0.10
$0.11
$0.12
$0.13
$0.14
$0.15
FY
13
FY
14
FY
15
FY
16
FY
17
FY
18
FY
19
FY
20
FY
21
FY
22
FY
23
FY
24
FY
25
FY
26
FY
27
FY
28
FY
29
FY
30
FY
31
FY
32
FY
33
FY
34
FY
35
FY
36
FY
37
FY
38
FY
39
FY
40
FY
41
FY
42
FY
43
FY
44
FY
45
FY
46
FY
47
FY
48
FY
49
FY
50
FY
51
FY
52
FY
53

7. Annual Revenue Allocation for Bell Curve
7
$0
$5,000,000
$10,000,000
$15,000,000
$20,000,000
$25,000,000
$30,000,000
$35,000,000
$40,000,000
$45,000,000
$50,000,000
FY
13
FY
14
FY
15
FY
16
FY
17
FY
18
FY
19
FY
20
FY
21
FY
22
FY
23
FY
24
FY
25
FY
26
FY
27
FY
28
FY
29
FY
30
FY
31
FY
32
FY
33
FY
34
FY
35
FY
36
FY
37
FY
38
FY
39
FY
40
FY
41
FY
42
FY
43
FY
44
FY
45
FY
46
FY
47
FY
48
FY
49
FY
50
FY
51
FY
52
FY
53
Net Bond Proceeds
(Balanced)
Annual Residual
Aggregate Debt Service
Tax Revenue Provided for
Pay-Go

8. Cumulative Dulles Rail Phase I &
Bell Curve Tax Rates
8
$-
$0.05
$0.10
$0.15
$0.20
$0.25
$0.30
FY
13
FY
14
FY
15
FY
16
FY
17
FY
18
FY
19
FY
20
FY
21
FY
22
FY
23
FY
24
FY
25
FY
26
FY
27
FY
28
FY
29
FY
30
FY
31
FY
32
FY
33
FY
34
FY
35
FY
36
FY
37
FY
38
FY
39
FY
40
FY
41
FY
42
FY
43
FY
44
FY
45
FY
46
FY
47
FY
48
FY
49
FY
50
FY
51
FY
52
FY
53

9. Summary of Tax Rate Models
Criteria 9 Stable 7 Stable
4 to 9
Step
4 to 7
Step
4 to 7
Bell Curve
Total Tax
Revenue
Needed*
$323.3m $336.4m $328.0m $349.5m $412.5m
Final Tax
Year
2035 2040 2036 2041 2048
Maximum
Cumulative
Deficit
$3.8m $8.8m $12.9m $12.9m $10.2m
Number
Years in
Deficit
4 8 8 9 9
9
* Includes Pay-Go, Bond Debt Service, and use of reserves/early debt payments

10. Use of Tax Revenue
(inmillions)
9 Stable 7 Stable
4 to 9
Step
4 to 7
Step
4 to 7
Bell Curve
Pay-Go $88.5 $68.8 $76.7 $64.6 $68.6
Aggregate
Debt Service
$88.3 $163.6 $105.7 $180.6 $238.2
Use of
Residual
Fund
Balance
$146.5 $104 $145.6 $104.3 $105.7
Gross Tax
Revenue
$323.3 $336.4 $328 $349.5 $412.5 10

11. FY 2014 Budget Calendar
• Public Hearings – FY 2014 Budget
• Tuesday April 9th begins at 6pm
• Wednesday April 10th begins at 3pm
• Thursday April 11th begins at 3pm
• Budget Markup - April 23, 2013
• Budget Adoption - April 30, 2013
• FY 2014 – July 1, 2013
• Adoption of a Service District Tax Rate for FY 2014 only has a ½
year rate collection impact
• July 2013 collections excluded, December 2013 included
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12. Questions?
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