Falls Church property owners are probably getting a tax cut, though it’s not as high as initially proposed.
City Council has tentatively settled on a rate of $1.20 per $100 assessed valuation, down from $1.21 in the current fiscal year.
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economy
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There is increasing evidence to support worries about the local and national economy.
The 7.9% drop in the S&P 500 from Jan. 20-April 25 was the worst stock market performance to start the first 100 days of a presidential term since Richard Nixon, per reports earlier this week. Yesterday brought two additional data points: an estimated 0.3% drop in U.S. GDP during the first three months of the year, and a 60% year-over-year jump in Arlington’s unemployment rate.
Meanwhile, tariffs are causing a drop in shipping and port activity that some believe may lead to product shortages.
Arlington’s congressman says that all adds up to an “increasingly grim picture.”
“The economic warning lights are all flashing red,” Rep. Don Beyer (D-Va.) said in a press release sharply critical of the Trump administration.
Northern Virginia business leaders are also worried about the local economic outlook, despite optimism earlier this year, the Washington Business Journal reported Wednesday.
Even Remy Munasifi, of Arlington Rap fame, is getting in on the action, with a new music video satirizing President Trump’s “Liberation Day” tariffs.
Given everything going on with the economy, we’re wondering how that’s affecting local residents and — specifically — their spending decisions.
In March, 65% of poll respondents said they were “very worried” about the local economy given the impact of DOGE cuts to the federal government. Two months later, are those worries — and new tariff and economic concerns — translating to a tighter grip on one’s pursestrings? Let’s find out.
Photo by Alexander Mils on Unsplash
Hundreds more Arlington County residents began seeking work in March as federal layoffs continue to drive a region-wide surge in unemployment, new data shows.
A total of 4,929 Arlington residents were counted as without jobs and seeking work in March, the Virginia Employment Commission reported yesterday (Tuesday). That’s up 16% from the 4,249 recorded in February, and up a hefty 60% from 3,116 in March 2024.
Arlington rents are still on the rise, even as regional economic concerns mount.
Apartment List and Zumper both released new data analyses yesterday (Tuesday). They differ somewhat, but both point in a single direction: upward.
An Arlington law professor is representing a lawsuit attempting to end President Donald Trump’s sweeping global tariffs.
Ilya Somin, a professor at the Antonin Scalia Law School at George Mason University, is serving as co-counsel for litigation filed shortly after Trump’s 10% tariff on all imports from most countries went into effect earlier this month.
The Falls Church City Council is keeping the door open to maintaining the same tax rate in the coming fiscal year.
Council members unanimously voted on Monday night to advertise a maximum tax rate of $1.21 per $100 assessed valuation — unchanged from the current rate.
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Gov. Glenn Youngkin (R) continues to throw his support behind federal job cuts and heightened tariffs, despite many Virginia officials’ and economists’ warnings of economic fallout.
In a CNBC interview yesterday (Monday), Youngkin acknowledged the pain that President Donald Trump’s economic decisions have already caused many Virginia residents. However, he argued that the layoffs are in the United States’ long-term interests and argued that tariffs will accelerate investments across the United States, including in Virginia.
New data on sales tax and meals tax revenues in Falls Church might show the first headwinds of a looming economic storm, leaders say.
Sales-tax revenues in the city were flat in February despite the opening of a Whole Foods supermarket in early February. Revenue from the city’s meals tax also wasn’t as high as officials had anticipated.
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Unemployment claims in Northern Virginia rose 7.1% between January and February, new data shows — offering a first glimpse of the impacts of mass federal layoffs.
A total of 53,394 people in the region were counted as unemployed and looking for work in February as sweeping job cuts began going into effect.
It’s not official yet, but the Arlington County Board has tentative plans to keep the real estate tax rate where it is this fiscal year.
Board members had previously voted to advertise a possible tax increase from $1.033 to $1.043 per $100 assessed valuation. However, the consensus at the end of a budget wrap-up session yesterday (Thursday) was to leave the rate where it is.
The population of every jurisdiction in Northern Virginia, including Arlington, increased between 2023 and 2024 for the first time in seven years.
The region as a whole saw its largest population increase in quite a few years, rising by 35,181, according to new estimates from the Northern Virginia Regional Commission. Arlington’s population estimate increased by just under 2%, while the region as a whole grew by 1.4%.
Winter weather, economic jitters and the fatal Jan. 29 aircraft collision combined for a challenging start to 2025 at Reagan National Airport.
Acknowledging 2025 has opened as “a turbulent year,” the president of the Metropolitan Washington Airports Authority (MWAA) told the body’s board of directors he believed the long-term outlook remains positive — despite ongoing uncertainty.