The Homeowner's Guide to Arlington, VA Property Taxes

In Arlington County, property taxes are a significant source of revenue that funds essential public services. The Department of Real Estate Assessments is responsible for determining the value of all real property in the county each year. This assessed value is then multiplied by the real estate tax rate, which is set annually by the County Board. Understanding how this system works is crucial for any homeowner or prospective buyer in Arlington, especially if you're looking to purchase through Geva and Jane with Varity Homes.

How Property Taxes are Calculated

Property taxes are calculated based on the assessed value of your property and the tax rate set by the County Board. For example, if a property is assessed at $400,000 and the tax rate is $0.996 per $100 of assessed value, the property tax would be calculated as follows:

Tax Rate×Assessment=Tax
0.996/100×$400,000=$3,984

How Property Taxes are Used

The revenue generated from property taxes is a cornerstone for public funding in Arlington County.  These include funding for schools, which helps ensure quality education for children in the county. It also goes towards fire and police protection, ensuring the safety and security of all residents. Other services funded by these taxes include maintenance of public parks and recreational facilities, public transportation systems, libraries, health and human services programs, and more. Knowing where your tax dollars go can offer a sense of community involvement and responsibility.

Lowering Your Property Taxes

While property taxes are necessary for maintaining public services, there are several programs in place to help eligible homeowners lower their property taxes:

Real Estate Tax Relief Program
One of the most significant programs in Arlington County aimed at reducing property taxes for eligible homeowners is the Real Estate Tax Relief Program. This program provides an exemption or deferral of real estate taxes for qualified homeowners who are age 65 and older or totally/permanently disabled.

Disabled Veterans and Surviving Spouses Exemptions
There are also exemptions available for Disabled Veterans and Surviving Spouses of Members of the Armed Forces Killed in Action. These exemptions can significantly reduce the financial burden of property taxes for those who qualify.

Energy-Efficient Home Credits
If you've made energy-efficient upgrades to your home, you may be eligible for additional tax credits. These credits can offset the cost of the upgrades and reduce your overall tax liability.

Appealing Property Tax Assessment

If you believe your property tax assessment in Arlington, Virginia, is inaccurate, you have several options to appeal it. The process is structured to ensure fairness and accuracy, but it's essential to know that the burden of proof is on you, the property owner, to demonstrate that the assessment is incorrect. Here are the steps to appeal your property tax assessment:

Contact the Department of Real Estate Assessments
The first step is to contact the Department of Real Estate Assessments to discuss your concerns. You can speak with an appraiser about your assessment, the valuation process, and any specific information related to your property. You can reach them by phone at 703-228-3920 or email at [email protected].

Department Review Request
If, after speaking with an appraiser, you still believe your assessment is inaccurate, you can file a Department Review Request. This is a formal request for the department to reconsider your property's assessed value. The filing deadline for this request is March 1 of each year.

Appeal to the Board of Equalization
If you haven't received the results of your appeal by April 1st, it's advisable to file an appeal application with the Board of Equalization to preserve your rights. This board serves as an independent review body that can offer a more formal appeal process.

File Suit to the Circuit Court
If you're not satisfied with the results from the previous steps, your final recourse is to file a suit in the Circuit Court. This is a legal avenue and should be considered as a last resort.

Evidence and Testimony
Remember, stating that your property taxes are too high is not considered relevant testimony. The best way to judge the assessment of your property is to compare it to recent sales and assessments of similar properties in your area. Gathering strong evidence is crucial to making a successful appeal.

Tips for New Homeowners

Becoming a homeowner is an exciting milestone, but it also comes with new responsibilities, one of which is understanding property taxes. As a new homeowner in Arlington, VA, it's crucial to factor in the cost of property taxes when budgeting for your new home. This is not just a one-time expense but a recurring one that you'll need to manage as long as you own the property.

If you're in the market to buy or sell a home, Geva and Jane, with Varity Homes, can provide invaluable assistance. They can help you find a property that not only meets your needs but also fits within your budget, taking into account the property taxes you'll be responsible for. Additionally, they can offer expert advice on how to make your property more appealing to potential buyers, which could include tips on leveraging tax incentives or credits that could make a property more financially attractive.

The Bottom Line

Understanding property taxes in Arlington, VA, is crucial for homeowners and prospective buyers. Whether you're looking to buy a new home  or sell your current property through Geva and Jane with Varity Homes, being informed about your tax obligations can save you time and money. With various programs available to reduce your tax burden and appeal processes in place for inaccurate assessments, you have options to manage your property taxes effectively.

Keep in mind that the information provided here serves as a general guide, and individual situations may differ. For personalized guidance, it's always a good idea to seek the expertise of a tax professional or financial advisor.