Arlington assessments rise 6.3 percent
The average single-family homeowner in Arlington County could see an increase in their property taxes.
Arlington's 2011 property value assessments are up 6.3 percent, almost eliminating last year's decline of 7.2 percent, said county finance gurus.
Residential values are up 1.4 percent and commercial property values are up 12 percent, said Michelle Cowan, director of management and finance.
"We're very fortunate," said Cowan, who noted that commercial values increased across all sectors, especially in the Rosslyn-Ballston and Crystal City corridors.
The taxes on an average county home, worth about $510,200, would increase by 1.4 percent or $67 to $4,888 without service fees included, said Richard Stephenson, budget director.
About half of Arlington's residents will see an increase in their tax bills, Cowan said. An additional 28 percent will see no change and the rest will see declines.
That increase, based on the current property base tax rate of 95.8 cents per $100 of assessed value, means about $30 million more than the county estimated coming in.
Barbara Donnellan told the county board in October that property values were estimated to rise about 1 percent. She said there would be a combined budget gap between the schools and county of as much as $35 million.
The board gave Donnellan guidance to present a budget to them in February that is a 1.14 percent spending increase from the current budget.
Residents will be able to access their assessments after 5 p.m. today at Arlington's Real Estate Assessments Web site.
This post has updated since it was first published.
| January 14, 2011; 12:05 PM ET
Categories: Arlington County, Budget, Christy Goodman | Tags: Arlington county property tax increase, Barbara Donnellan, Michelle Cowan, arlington budget, commercial property tax increase, property value assessment
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