Massive retaliatory tariffs that went into effect today before abruptly going on pause have left Eden Center businesses rethinking pricing and fearing for the future.
The Falls Church shopping center with over 120 family-owned businesses relies heavily on sales of imported goods from Vietnam, China and numerous other countries that have ridden an economic rollercoaster over the past week.
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.
Several residents and members of the Arlington business community spoke out against proposed tax hikes at a County Board hearing last week.
As officials are considering possible bumps to the county’s meals tax and real estate tax, several speakers at a Thursday meeting made the case for fiscal restraint in the face of significant economic uncertainty in the D.C. area.
The Arlington government plans to spend over $200 million on human services programs and personnel in the coming fiscal year, a new record high.
While officials are making some efforts to rein in the increase, they warn that local and national economic factors may force them to either add more funding or scale back existing initiatives as the year progresses.
Add hotel-occupancy rates to the Arlington County government’s growing list of economic concerns.
Projections for the next 60 days suggest Arlington’s hotel-room usage will be down 15% from a year before and expected hotel revenue down 12%.
Local businesses are weighing their options to cope as record-high egg prices are expected to continue rising this year.
Several Arlington restaurants and bakeries have told ARLnow they are considering raising prices as they face increasingly high costs and, at times, shortages of the ubiquitous ingredient.
Additional no-turn-on-red traffic restrictions are coming to Falls Church, and even more may be on the way.
Police Chief Shahram Fard told City Council members that the Department of Public Works has approved several of his requests for additional no-turn-on-red restrictions along Broad Street.
Arlington’s commonwealth’s attorney is pushing for an increase in funding for her office as the county continues to wrestle with a relatively tight budget.
At a budget work session last week, Commonwealth’s Attorney Parisa Dehghani-Tafti argued on behalf of three additional staff positions not included in the current budget draft.
Amid federal budget-slashing efforts, Falls Church officials are keeping a watchful eye on about $50 million in approved grant funds.
So far, “we have not heard any word of adverse actions on those grant projects,” City Manager Wyatt Shields told City Council members Monday night.
County Board members on Tuesday night voted 4-1 to advertise a 1-cent increase to Arlington’s real-estate tax rate.
That compares to no increase proposed by County Manager Mark Schwartz, and would, if fully adopted, raise a typical homeowner’s tax bill 4.7% year-over-year.
It may come down to more school funding or homeowner tax relief as Falls Church city leaders start mulling over budget options for the coming year.
Although the formal presentation of draft city and school-system budgets is more than a month off, city officials now have a better idea of the fiscal condition of the 2.2-square-mile locality.
Residential property assessments are up 3.7% year over year, while commercial property values are largely flat.
That’s according to an announcement from Arlington County.
