Newspaper Column: The Assessment Cap Forecasts a Dismal Future

Abstract

In 1984, Reston Association reviewed and revised its governing documents, inserting into its Deed of Dedication provisions for an overall cap on property assessments pegged to the Consumer Price Index (CPI). Placing a cap on assessments was a reasonable means of protecting property values: new home buyers would be assured that a future runaway RA board could not impose a burden on property which was unrealistically high.