►
From YouTube: 10 Things to know about your Property Assessments
Description
Learn more about real estate assessments in Arlington and find answers to frequently asked questions at arlingtonva.us/assessments
A
Each
year,
arlington
county
sets
the
fair
market
value
of
all
residential
and
commercial
properties
in
the
county.
Assessments
are
effective
january
1st
of
each
year
and
are
based
on
both
land
and
physical
improvements
for
each
property
assessment
notices
are
mailed
to
every
property
owner
in
arlington
county
current
and
past
notices
are
available
on
the
department
of
real
estate
assessments
website.
A
The
county
looks
at
several
things
when
setting
the
value
of
a
property,
including
the
amount,
a
typical
buyer
would
pay
for
the
property
in
its
current
condition,
the
value
that
similar
properties
are
selling
for
in
the
area
and
the
estimated
cost
to
replace
the
property.
With
today's
materials
and
labor
costs,
the
county
also
uses
a
12-month
sales
period.
That
starts
16
months
before
the
january
1st
assessment
date.
That
means
that
the
january
2021
assessments
use
sales
data
from
september
1st
2019
through
august
30th
2020.
A
This
time
lag
means
assessments
may
differ
from
sale
prices
as
real
estate
markets
change.
The
real
estate
assessments
office
determines
property
values
and
the
treasurer's
office
handles
tax
payments.
Real
estate
taxes
are
calculated
by
multiplying
a
property
assessment
by
the
real
estate
tax
rate,
which
is
set
by
the
county
board
each
april.
A
For
example,
if
the
tax
rate
is
a
dollar
and
three
cents
per
100
of
assessed
value,
a
residential
property
valued
at
five
hundred
thousand
dollars
would
have
a
final
tax
bill
of
five
thousand
one
hundred
and
fifty
dollars.
If
you
disagree
with
your
property's
value,
you
should
contact
the
county
appraiser.
First,
with
your
questions,
call.
A
703-228-3920
to
speak
with
an
appraiser.
If
you
decide
to
formally
appeal
your
assessment,
you
must
apply
to
the
department
of
real
estate
assessments
by
march
1st
and
or
to
the
board
of
equalization
by
april
15th.
You
can
learn
more
at
arlingtonva.us
search
assessment,
appeals,
property
ownership.
Information
is
typically
updated.
Five
to
seven
days
after
a
deed
is
recorded
in
the
land
records
at
the
clerk
of
the
circuit
court's
office.
This
time
frame
depends
on
the
volume
of
transfers.
A
Certain
renovations
additions
or
improvements
will
add
value
to
your
property.
A
supplemental
tax
assessment
is
the
difference
between
the
new
assessment
and
the
january
first
value,
and
it's
made
after
the
construction
is
substantially
completed
or
ready
for
use.
A
separate
tax
bill
is
also
mailed
by
the
treasurer's
office.
A
Providing
income
and
expense
information
helps
the
county
to
assess
market
conditions.
Commercial
property
owners
are
required
to
submit
income
and
expense
information
if
they
are
appealing
their
assessment
based
on
their
income
apartment
buildings
with
commercial
retail
or
office
space
are
referred
to
as
mixed-used
buildings.