The value of taxable real estate in Loudoun is nearing a hundred billion dollars, as Loudoun County Commissioner of the Revenue Robert S. Wertz Jr. has published real estate assessments for tax year 2021 online at loudoun.gov/parceldatabase.
Printed assessment notices will be mailed to property owners this week.
The assessments let property owners know the assessed value of their property as of Jan. 1, 2021, reflecting real estate market activity in 2020. That value will also influence the real estate tax rate supervisors set during budget deliberations to pay for county government and projects. Those tax bills will be due on June 7 and Dec. 6.
Property owners who believe their assessments are incorrect may file an Application for Review with the Commissioner of Revenue online at loudoun.gov/reaa by March 8. Thereafter, appeals can be made to the Board of Equalization until June 1.
This year, the county’s total taxable real estate is valued at $95.1 billion, an overall increase of 5.8%. The typical existing single family detached home property saw the largest average year-over-year increase in value, at 7.2%, and the average townhome was up 6.4%.
Meanwhile commercial property values dropped by 5.7% from last year, to $18.6 billion.
Last year the county’s total taxable real estate was $89.9 billion, a 7.6% increase from 2019.