A pair of commercial property tax hikes in D.C. may drive additional economic activity in Arlington, according to a new report.
Commercial real estate services firm JLL says higher commercial property taxes in the District — a 2.2% hike from $1.85 to $1.89 per $100 of assessed value — “will cause rent paid by office tenants to jump further, at a time when the market’s supply-demand paradigm strongly favors tenants.”
Another Water Main Break in Courthouse — “Emergency Water Main Repairs: Crews working on a 6-inch valve leak at 1315 N Barton St. Traffic is detoured around the work site. At least one high-rise building is affected.” [Twitter]
Business Owners Planning for HQ2 — “Dawson and Bayne said Highline is ‘a happy-hour machine’ during the week, thanks to the office buildings that surround it. But business late at night and on weekends isn’t as steady. The impending arrival of Amazon, however, is causing the business partners to rethink Highline’s concept.” [WTOP]
Dense Fog Advisory This Morning — “A Dense Fog Advisory has been issued for the DC/Baltimore metro areas, including portions of western MD & eastern WV. Use caution driving early this morning, and allow extra time to reach your destination. The fog should dissipate by around 9am.” [Twitter]
HQ2 May Look Like HQ1 — “Amazon.com Inc. has enlisted a trio of firms deeply involved with the development of its Seattle campus to help shape the plans for its second headquarters, an early indication the two campuses could share some common design elements.” [Washington Business Journal]
Fatal Crash Along I-395 — Updated at 10:05 a.m. — Virginia State Police are investigating a fatal motorcycle crash that happened on the ramp from northbound I-395 to Washington Blvd. [ARLnow, WTOP]
County Board Planning Tax Rate Hike — “Owners of a typical Arlington single-family home will see this year’s real-estate tax bill rise 4.95 percent to more than $8,400 under the county government’s fiscal 2020 budget slated for approval this week. County Board members on April 18 tentatively opted for a 2-cent increase in the real estate tax rate, bringing it to $1.026 per $100 assessed value and making Arlington the only jurisdiction in Northern Virginia’s inner suburbs to impose a tax-rate increase on homeowners this year.” [InsideNova]
(Updated at 10:45 p.m.) About a year ago at this time, Arlington looked to be in serious trouble down in Richmond.
In mid-March 2018, county officials faced the decidedly unpleasant prospect that they’d come out on the losing end of a bruising legislative battle with two local golf and country clubs.
Arlington officials have pitched Amazon on a program to help the company slash its business license tax burden when it sets up shop in Pentagon City and Crystal City — but the county is also admitting that Amazon could avoid that particular tax altogether.
Should an incentive package designed to bring the tech giant’s new headquarters to Arlington win county approval this weekend, Amazon will still be subject to all manner of local levies. In particular, officials are counting on real estate tax revenues from the company to generate an extra $342 million for county coffers over the next 16 years.
(Updated at 4:45 p.m.) Once Amazon starts to move into Arlington, the company could take advantage of a little-used county incentive program for tech firms to substantially slash its local tax burden.
Documents released in late January show that Arlington officials explicitly pitched the tech giant on the prospect of scoring major tax savings through the county’s “Technology Zone” program, back when they were still wooing Amazon last year. Created in 2001 and last updated in 2014, the program was designed to provide incentives for high-tech businesses to move to Arlington by offering significantly reduced rates for the county’s “Business, Professional and Occupational License” tax in certain neighborhoods.
The County Board is moving closer to approving the first increase in the Arlington Public Library’s (APL) collections budget since 2014.
The proposal is part of the FY2020 budget sketched out by County Manager Mark Schwartz, which allocates $300,000 to APL’s budget for books and other materials for rent. The Board expressed broad support for beefing up the library’s budget during a work session Tuesday.
Arlington officials have, at last, unveiled a detailed version of the county’s proposed incentive package designed to bring Amazon to the county.
A draft copy of the county’s “Economic Development Incentive Grant Agreement” posted online for the first time today (Tuesday) sketches out the exact amount of office space Amazon will need to occupy in Arlington in order to win $23 million in incentive cash over the next 15 years.
Though the opening of the ever-controversial Long Bridge Park aquatics and fitness center is still a ways off, county officials are gearing up to hire two new staffers set to work at the facility.
County Manager Mark Schwartz set aside $110,000 for the newly created positions as part of his proposed budget for fiscal year 2020. He forwarded along his first draft of the new spending plan to the County Board late last week.
Growing expenses from the county school system and Metro have convinced Arlington officials to propose a substantial tax increase for the new year’s budget, with leaders advancing a tax hike that’s even larger than the one initially proposed by County Manager Mark Schwartz.
The County Board voted 4-1 to advertise a 2.75-cent bump to the county’s real estate tax rate at its meeting Saturday, nearly double the 1.5-cent increase included in Schwartz’s proposed budget for fiscal year 2020. Board member Katie Cristol cast the lone dissenting vote.
Arlington’s top executive is calling for a real estate tax hike and some select staff cuts to meet rising expenses passed along by county schools.
However, County Manager Mark Schwartz’s proposed budget for the new fiscal year is not quite as unpalatable as he’d initially feared.
