Arlington County property tax assessments have been mailed to property owners in the Virginia county, and the overall assessed value of all residential and commercial properties went up 4.6% for 2020, compared with a 3.5% increase last year.
Commercial properties saw the biggest increase, up 4.9% overall. Residential property assessments went up an average of 4.2%.
Property tax assessments are used to calculate homeowners’ annual property tax bills. Property tax payments for 2020 are due in two installments, in June and October.
The tax rate for calendar year 2020 will be set by the Arlington County Board in April. The calendar year 2019 property tax rate was $1.026 per $100 of assessed value.
About 85% of residential property owners will see an increase in assessed value. The average home value in Arlington County, including single-family homes, condos and townhouses, is now $686,300.
Arlington County homeowners can look up their 2020 property assessments online.
Commercial property values were driven higher by a decline in the office vacancy rate, new construction, demand for rental properties and Amazon-related leasing activity. The largest increase in commercial property assessments is for apartment buildings, up 8.9%.
Last year, real estate taxes accounted for 57% of total Arlington County revenues, about evenly split between residential and commercial properties.
Arlington County bases assessments on a number of factors. It posts determining factors online, and includes information on the appeals process.
Get breaking news and daily headlines delivered to your email inbox by signing up here.
© 2020 WTOP. All Rights Reserved. This website is not intended for users located within the European Economic Area.