Homeowners in Arlington County, Virginia, will receive their 2021 property tax assessments this week.
The average increase in residential property values in Arlington County is 5.6%. The average single-family property value increased from $686,300 in 2020 to $724,400 for 2021.
Arlington County said approximately 90% of residential property owners will see an increase in their assessed value.
Residential properties include single-family homes, condominiums and town houses.
The assessment statements are not property tax bills. Homeowners can now through March 1.
The first installment of Arlington County property tax payments is June 15. The second installment is due Oct. 5.
In contrast to residential assessments, commercial property tax assessments decreased by 1.4%, driven by a double-digit decrease in the hotel sector, where operations have been significantly impacted by the COVID-19 pandemic.
Existing office property values remained flat.
Arlington County property tax assessments are also .
Real estate taxes account for 59% of Arlington County鈥檚 total revenues, with 53% of total real estate tax revenue coming from residential properties and 47% from commercial property assessments.
