The number of state and local business incentive agreements has increased tremendously the past 30 years, with some studies estimating the annual amount of state and local spending on targeted economic development subsidies to reach $95 billion. This creates a race to incentives that generates a vicious circle of government offering increasingly more and businesses asking for ever bigger incentives.
Assessing Tax Trends in the City of Arlington
Does history suggest that property taxes are too high in the city of Arlington? And, if so, have local decision-makers actively helped or hurt the situation? To help answer these questions, let’s review the city’s 2024 Annual Comprehensive Financial Report (ACFR) and gather four types of data—i.e., tax levies, local population, total tax rates, and taxable values—over a 10-year time horizon. Using these audited estimates, we can gauge the growth of government (i.e., tax levy trends), assess its reasonability...