Since the election is only a few days away now (along with the end of all those awful TV ads!), it makes sense to talk about a real estate related ballot question you'll be seeing on Tuesday.

The question is whether there should be a constitutional amendment permitting localities to grant real estate tax breaks for homes and businesses in designated areas in order to encourage conservation, redevelopment or rehabilitation.

There are current tax exemption programs but they are lmited to renovation, expansion or reconstruction of structures. The thinking in expanding this to new construction is that it will encourage new development in areas that are considered blighted. This is clearly less of an issue in much of the Piedmont than it will be in some of the larger cities in Virginia.

However, this would apply to all localities if it passes and so it makes sense to contemplate what, if any, effects it would have in our area.

First of all, there are some areas of some communities where this could be used to make a real difference. If the amendment passes, localities would have the option of adopting ordinances spelling out eligibility criteria for the tax exemption. The exemption could be as much as 50% of the increase in the assessed value resulting from the new construction. Localities would not only determine the size of the exemption, but also for how long it would remain in effect.

But most of us don't see any blighted areas in our neck of the woods.  I think in areas where this is a problem, this is a solution that would seem to make sense. But what additional powers would it give communities here locally and what would be the effects of that?

Could developers persuade local authorities to write the rules broadly enough to open the door to development with exceptionally favorable tax treatment? Would it encourage development in areas that most residents would prefer to see protected? The wording seems broad enough that vigilence will be required on a local level to prevent misuse. But then, shouldn't we as citizens be practicing vigilance in regards to our government all the time, at all levels?!

On that note, please remember to get out there and vote on Tuesday!