Arlington’s County Board chairman is concerned about one demographic group that seems to be disappearing from within the county’s 26 square miles.
“We are losing young families at an alarming rate,” Garvey told the Arlington County Democratic Committee on Feb. 7, in remarks leading up to what likely will be another budget season resulting in all-time-high tax burdens for local residents.
Garvey said the budget process always proves “a balancing act,” attempting to provides services without pricing segments of the public out of the community.
“It’s not easy,” she said.
If Arlington can’t showcase its value and livability, other jurisdictions will step in and grab those residents, she acknowledged.
“We’ve got to give people a reason to be here,” Garvey said. “We want it to be an inviting place. There is a lot of competition.”
But Arlington homeowners may get hit with a double-whammy this year – an increase in the real-estate tax rate coupled with higher assessed valuations.
Either that, or the county’s $1.5 billion annual fiscal budget will need to be nipped and tucked, in order to account for declines in valuations of commercial properties – declines that, potentially, could be permanent as work-from-home normality leads businesses, non-profits and government agencies to require less space.
The budget process kicks off later this month when Arlington County Manager Mark Schwartz unveils his budget proposal, and concludes about three months later when the County Board adopts a fiscal 2025 budget and sets tax rates.
