10 Arlington Landowners Pay 20 Percent of Property Taxes: Report

With some properties in Arlington valued at billions of dollars, big business paid heavily on property tax during the city’s 2014 fiscal year, according to Washington Business Journal report.

Ten Arlington landowners accounted for about 20 percent of the property tax collected by the city this fiscal year. In total, the 10 businesses contributed $130 million out of the $682 million collected by the city, reported in Arlington’s 2014 Comprehensive Annual Financial Report.

As expected, Vornado Realty Trust, the region’s top real estate investment company, paid the most on its building which is valued at $3.8 billion. Vornado develops major projects in the city such as the upcoming Metropolitan Park in Pentagon City.

Other high-paying landowners include: Arland Towers Co., Albrittain Interests, The JBG Cos., Paradigm Managed Properties, Beacon Capital, Caruthers Interests, Shirley Park Leasing, Street Retail Inc. and Fashion Centre Associates, according to the journal.

Read more at The Washington Journal.

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