The average Arlington homeowner will see a significant tax increase as part of the new, $1.65 billion county budget.
The Arlington County Board on Saturday approved the FY 2025 budget, which includes a 2 cent tax rate increase. Paired with a 3.3% increase in home values, it will raise property taxes for the average homeowner $430 annually — a 5.3% increase.
The Arlington County Board is considering a potential property tax hike that could be even higher than what County Manager Mark Schwartz proposed.
Board members yesterday (Tuesday) voted 5-0 to advertise hearings on a maximum property tax rate of $1.038 per $100 of assessed value, a 2.5 cent increase from 2023. That is 1 cent higher than the increase of 1.5 cents that Schwartz proposed in his $1.62 billion budget proposal for Fiscal Year 2025.
Several measures designed to combat Arlington’s persistently high office vacancy rate are slated for discussion next month.
On the table are expanded opportunities for shared and offsite parking, as well as more lenient parking requirements for fitness centers. Officials are also set to consider whether to allow large media screens for outdoor entertainment in some business districts.
The value of residential properties is up in Arlington, but the torrid growth of past years has slowed.
Arlington County announced today that residential property assessments are up 3.2% for 2024. The overall property assessment growth was 2.5%, with commercial properties up 1.6%. New construction contributed significantly to the overall growth.
This weekend, the Arlington County Board is set to consider a new tax based on how much hard surface your property has.
Property owners with more hard surfaces that do not let rain soak into the ground — such as roofs and driveways — can expect to pay larger fees than those with fewer such surfaces. Revenue would support the county’s stormwater management fund, which pays for flooding mitigation projects.
Unionized trade workers have tentatively negotiated with Arlington County for wage increases and safety protections for the next four years.
Predicting a budget gap in the 2025 budget, however, the county says it will have to raise taxes or make budget cuts to pay for these provisions, according to a fiscal analysis the Arlington County Board is set to hear about during its Saturday meeting.
Virginia residents have been receiving state tax rebates over the past week or so.
The rebates for those who paid taxes in 2022 — $200 for individual filers, $400 for joint filers — were approved by the Virginia General Assembly in a compromise budget and signed into law by Gov. Glenn Youngkin.
Early voting is picking up speed in Arlington while Arlington County Board candidates focus on Missing Middle and taxes.
The general election on Nov. 7 is less than two weeks away and at this point, far more people are voting early in person this year compared to 2019, the last election year without gubernatorial or presidential races.
Don’t be surprised if your receipt lacks a sales tax charge this weekend.
Starting Friday at 12:01 a.m. and running until midnight on Sunday, a variety of products, from school supplies to refrigerators, will be exempt from taxation during a three-day tax holiday.
(Updated at 12 p.m. on 10/19/23) County leaders say Arlington is facing a grim future due to its rising office vacancy rate, which now stands at 21.5%.
Arlington is leading the region with its vacancy rate, which works out to 9 million square feet of empty space, according to Arlington Economic Development Director Ryan Touhill. He predicts the vacancy rate will continue climbing, as AED has determined about one-quarter of office buildings are at risk of sustained vacancies.
Last year’s soaring car tax values resulted in more people behind on their vehicle taxes, according to Arlington’s Treasurer.
Despite the uptick, Arlington County ended the 2023 fiscal year with historically few people behind on their taxes, Treasurer Carla de la Pava told the Arlington County Board on Tuesday.
