WASHINGTON — Loudoun County won’t set 2016 property tax rates until this spring, but the county has completed its real estate assessments for the 2016 tax year.
The county’s total taxable real estate increased to $69.1 billion, up about 3.7 percent from the 2015 tax year.
The average existing single-family home in Loudoun County saw a year-over-year increase in assessed value of 2.26 percent. The average assessed value of a condominium in Loudoun County declined by 3.02 percent.
Assessed values and market values may differ, but according to Long & Foster Real Estate Inc., the median selling price of a home in Loudoun County in December was $437,000, up 2 percent from a year earlier.
The total value of commercial property in the county was up 6.4 percent over 2015.
Loudoun County homeowners can view their new real estate assessments online now. Homeowners who think their assessments are incorrect also can file an Application for Review with the Commissioner of Revenue’s office online by March 7 here.
The Loudoun County Board of Supervisors will set the current year property tax rate in April, for real estate tax bills that are due on June 5 and Dec. 5.
The 2015 real estate tax rate in Loudoun County was $1.135 per $100 of assessed value, or about $5,700 on a $500,000 home.
Last year’s property tax rate in Arlington County was $0.996 per $100. It was $1.090 in Fairfax County.
