Loudoun County’s real estate tax base grew by 7.6 percent over the past year to a record total of $89.9 billion, according to assessment figures released today by Commissioner of the Revenue Robert S. Wertz, Jr.
According to a summary of the data provided by the county, the average value for single-family detached homes increased 2.68 percent over the last year. Condominiums saw the largest average year-over-year increase in value at 8.14 percent. The value of agricultural parcels of 20 to 99 acres declined 9.6 percent.
Fueled by the continued growth in data centers, the total value of taxable commercial property grew to $19.6 billion, a single-year increase of 7.43 percent.
Property owners may view their updated assessment online at loudoun.gov/parceldatabase.Formal assessment notices will be mailed to property owners this week.
With County Administrator Tim Hemstreet scheduled to release his budget proposal next week, property owners can assess the implications of the new fiscal year tax rate on their tax bills. The To begin its deliberations, the Board of Supervisors has instructed Hemstreet to create a budget based on the current $1.045 tax rate—meaning tax bills would increase 2.68 percent for the average single-family detached home owner. The board will adopt a tax rate in April.
Property owners who believe their assessments are incorrect may file an Application for Review with the Commissioner of the Revenue online at loudoun.gov/reaa by March 6. Thereafter, appeals may be made to the Board of Equalization until June 1. Property owners also may communicate with the staff appraiser responsible for their assessment and whose name and contact information will be listed on the mailed notices.
For more information, contact the Commissioner of the Revenue’s office at 703-777-0260 firstname.lastname@example.org.