34°Rain

Property Values Rebound in Arlington

by ARLnow.com — January 14, 2011 at 12:00 pm 2,666 49 Comments

Overall property values increased 6.3 percent during Arlington’s latest round of real estate assessments, which will be mailed to homeowners and released on the internet later today.

The increase is expected to bring in an addition $30 million in tax revenue for the county, which should help to offset this year’s estimated $25 million budget gap. The county budget office was originally expecting an approximately 1 percent increase in property values.

“It certainly… makes it easier for us to balance the budget,” said Michelle Cowan, Director of the Dept. of Management and Finance, who added that stepped-up commercial lending and property sales helped to drive the increase. “We consider ourselves very fortunate.”

However, Cowan cautioned that continued expenditure pressures — like rising health care, benefit and retirement costs — could still make the upcoming budget process challenging. She also said that other county revenue sources, like sales taxes, are unlikely to post significant increases.

The rise in property values is primarily due to strength in Arlington commercial real estate sector. Commercial assessments were up 12 percent, led by a 22 percent increase in hotel assessments and a 15 percent increase in office assessments. Apartment assessments were up between 8 and 9 percent, Cowan said.

Residential assessments, including single family homes, condos and townhouses, increased 1.4 percent this year. The average home in Arlington is now worth $510,200, up from $503,200 last year. The average property tax bill will now be $4,888, up $67 compared to last year.

Homeowners can appeal their assessments here.

Overall assessments were down 7.2 percent in 2010. Residential values were down 3.25 percent last year and commercial values declined 12.7 percent. County budget personnel say this year’s increase will put property values in the county “close to break-even” compared to two years ago.

County Manager Barbara Donnellan will present her proposed budget to the county board in February. The board will then hold public hearings in March, followed by budget adoption in April.

No word yet on how rising property tax revenues may affect Donnellan’s initial pledge to bolster this year’s budget with spending cuts and revenue increases.

  • Zoning Victim

    Time to figure out how to spend that extra $5 mil. Anyone need another dog park?

    • KalashniKEV

      Clarendon Housing Project?

  • GeorgeOrwell

    it would be nice if the County would actually also update the website to show our 2011 fees for renting our land from the County.
    why is the website, once again, behind?

    • G

      They’re updating the assessment info at 5pm today. The tax rate wont be confirmed until April.

      • GeorgeOrwell

        Thanks.
        I guess it would make too much sense to have it updated before this press release went out.
        My first reaction in seeing this press release is how will it impact ME so I went to look it up and … I don’t know.
        So until the database is updated, it is a useless press release.
        And yes, I’m one of those people who actually knows that the tax rate is determined later — thanks.

        • South Arlington

          Just so you know, the tax rate is determined later. So it would be difficult to estimate the impact on YOU.

          • GeorgeOrwell

            True. But I can get an idea if my assessment went up my taxes will stay the same or go up. if my assessment goes down, well, that would be even better. they won’t jack the tax rate THAT much.

    • http://arlingtondirt.blogspot.com/ TGEoA

      Did Arlington ever show the # of rooms, baths etc on the website?

  • Andrew

    How does an extra $30 million only “help to offset” a $25 million budget gap?

    • Lou

      They probably allocated that $30 million within an hour of it being announced.

  • notahoo

    Magic! We are short $25m, so let’s jam the land holders! Magic!!

    • mehoo

      Um, it’s not jamming if your wealth goes up and you get taxed more for it. Not a tax rate increase.

      I think the property tax sucks overall. But this isn’t a tax increase.

      • notahoo

        The comment is related to the increase in property taxes magically matching the budget shortfall. I whole heartedly agree that “wealth” not “income” should be taxed.

        MTH

        • Arlington Billy

          So what you are saying is that responsible people who save and invest their money should be punished by higher taxes because their wealth increses, versus people who live beyond their means?

      • Burger

        You are paying more money to the County Government…It is a tax increase based purely on the whims of what the government decides to be taken out of an illiquid asset.

  • Tax Man

    Actually Arlington County does a pretty good job with assessments. Single family homes here sell much closer to assessments than in other areas and condos tend to sell for more than assessments. I don’t think we have anything to complain about.

    • Dan

      Do you have any current documentation for your assertions ??

      • Tax Man

        You can sort sold price as a percent of tax assessment on some real estate websites. I may be wrong about parts of Arlington – I really only know about 22207, 22205 and 22201. Looks like things may be different in 22204 and probably some other areas. Sorry.

        • HC

          The problem with Arlington’s real estate assessments is that they don’t ground them to the actual sale price and instead just increase/decrease blocks of houses based on statistical data. The only available way to recalibrate the assessed home value with the actual home value is to appeal. Unfortunately, the process is completely skewed against the home owner, and the so-called “Board of Equalization” (should be Board of Maximization) will do anything in their power to keep your real estate assessment as high as possible. It is also not recommended as the process allows their assessors to come your house and find excuses to further increase your assessment for the following year. I think they added a few thousand to our next assessment because they said we had replaced the kitchen floor, when in fact the previous owners had simply added another layer of stick-on linoleum.

          • Dan

            That echoes my experience with the Board of Equalization. It isn’t too surprising considering that the county pays them a fairly substantial amount for not too much effort on their part.
            It does seem to be their goal and the individual assessor’s primary goal to set the value as high as possible.

            The process is totally stacked against the individual homeowner.

          • Dan

            I also agree with NOT letting them in your house.

            My assessor when leaving acted as though he was startled to notice the front porch on my house.

            He actually seemed to be implying that someone had come along and added a 30 ft tall front porch while he had been in the house.

            Of course the porch has been there since 1930 or so…..

          • http://arlingtondirt.blogspot.com/ TGEoA

            Yeah, those bastards were poking around my neighborhood and rang my door asking me if I had a finsihed bathroom downstairs.

            Uh… No I don’t!

    • G

      I paid 22% less than what my condo was assessed for in 2009

      • Lou

        So much for assessments having anything to do with wealth.

        • mehoo

          Why do you say that? Sounds about right. If the value of your home goes down, your wealth goes down.

          • G

            I think because I was paying property taxes that were technically 22% higher than what I should have been paying.

          • Burger

            How much of that “wealth” can he spend tied up in a house.

    • GetReal

      Here is a copy of the last 150 sales in 22207 (goes back to 8/10). 62% sold above tax value, 38% below.

      CloseDate PastSale TaxAssessment % of tax value Address
      1/12/2011 $885,000 $788,400 112.25% 4821 29TH ST N
      1/12/2011 $664,000 $542,800 122.33% 5315 26TH RD N
      1/12/2011 $485,000 $574,400 84.44% 4823 16TH RD N
      1/10/2011 $1,290,000 $592,400 217.76% 1819 STAFFORD ST N
      1/10/2011 $582,000 $620,400 93.81% 3611 22ND ST N
      1/7/2011 $362,500 $326,500 111.03% 2135 TAYLOR ST N #E
      1/7/2011 $790,000 $844,400 93.56% 5708 LITTLE FALLS RD
      1/6/2011 $462,000 $497,500 92.86% 2501 GRANADA ST
      1/6/2011 $259,990 $452,300 57.48% 2110 EMERSON ST N
      1/4/2011 $780,000 $712,700 109.44% 4813 37TH ST N
      1/4/2011 $259,900 $452,300 57.46% Land: 2110 EMERSON ST
      12/29/2010 $728,000 $684,000 106.43% 4301 40TH ST N
      12/29/2010 $449,350 $463,400 96.97% 4377 LEE HWY #D
      12/29/2010 $891,500 $702,600 126.89% 3215 COLUMBUS ST
      12/29/2010 $680,000 $745,100 91.26% 3106 MILITARY RD
      12/28/2010 $610,000 $654,500 93.20% 1823 TAYLOR ST
      12/28/2010 $844,000 $915,700 92.17% 4540 32ND RD N
      12/28/2010 $739,000 $629,700 117.36% 2808 NOTTINGHAM ST
      12/27/2010 $204,500 $298,100 68.60% 5532 LEE HWY #21-E
      12/22/2010 $1,100,000 $- 6417 27TH ST N
      12/21/2010 $740,000 $733,800 100.84% 2649 ROBERT WALKER PL
      12/20/2010 $681,100 $587,000 116.03% 4817 17TH ST N
      12/20/2010 $905,000 $819,000 110.50% 3738 30TH PL N
      12/17/2010 $628,300 $582,600 107.84% 4937 33RD RD N
      12/17/2010 $905,300 $713,900 126.81% 4304 37TH RD N
      12/17/2010 $1,737,750 $1,658,000 104.81% 3427 UTAH ST
      12/16/2010 $455,000 $467,500 97.33% 2542 GREENBRIER ST N
      12/15/2010 $895,000 $716,800 124.86% 1915 UPTON ST N
      12/14/2010 $492,000 $429,800 114.47% 2148 BRANDYWINE ST
      12/10/2010 $546,500 $615,400 88.80% 2000 WOODSTOCK ST N
      12/10/2010 $620,000 $587,000 105.62% 4919 33RD RD N
      12/10/2010 $762,000 $551,300 138.22% 2815 GEORGE MASON DR N
      12/10/2010 $748,000 $767,800 97.42% 2804 HARRISON ST
      12/10/2010 $1,268,650 $1,202,200 105.53% 3408 UTAH ST
      12/10/2010 $1,125,000 $939,400 119.76% 3700 JOHN MARSHALL DR
      12/10/2010 $795,000 $687,400 115.65% 3400 18TH ST N
      12/10/2010 $885,000 $- 3700 23RD ST N
      12/10/2010 $487,500 $502,200 97.07% 5135 19TH RD N
      12/9/2010 $530,000 $663,600 79.87% 2250 VERNON ST
      12/8/2010 $1,385,000 $1,344,200 103.04% 3823 TAZEWELL ST N
      12/8/2010 $610,000 $533,600 114.32% 2100 TAZEWELL CT
      12/7/2010 $1,175,000 $1,216,300 96.60% 4711 36TH ST N
      12/7/2010 $780,000 $749,100 104.12% 3823 RICHMOND ST N
      12/7/2010 $1,650,000 $1,574,100 104.82% 4311 38TH ST N
      12/7/2010 $952,000 $1,178,300 80.79% 4026 38TH PL N
      12/6/2010 $495,000 $622,900 79.47% 4642 20TH ST N #N/A
      12/6/2010 $925,000 $747,100 123.81% 2669 MARCEY RD N
      12/3/2010 $1,525,000 $1,426,600 106.90% 4325 OLD GLEBE RD N
      12/1/2010 $930,000 $1,217,000 76.42% 5220 OLD DOMINION DR
      11/30/2010 $835,000 $749,800 111.36% 1901 QUINCY ST
      11/30/2010 $1,519,000 $- 5319 32ND ST N
      11/30/2010 $950,000 $842,500 112.76% 2776 QUEBEC ST N
      11/29/2010 $679,900 $735,400 92.45% 3526 GLEBE RD
      11/29/2010 $679,900 $735,400 92.45% Land: 3526 GLEBE RD
      11/29/2010 $214,000 $240,100 89.13% 2053 WOODSTOCK ST N #301
      11/29/2010 $515,000 $573,500 89.80% 5701 WILLIAMSBURG BLVD
      11/29/2010 $1,100,000 $1,005,800 109.37% 3171 QUINCY ST
      11/29/2010 $848,000 $1,009,600 83.99% 2929 SYCAMORE ST N
      11/29/2010 $460,000 $508,300 90.50% 2521 GRANADA ST
      11/24/2010 $477,000 $471,400 101.19% 3713 20TH ST N
      11/23/2010 $814,500 $462,000 176.30% 5111 19TH RD N
      2024828 Pending $- 4003 RICHMOND ST N
      11/22/2010 $1,678,000 $758,400 221.26% 2520 QUEBEC ST N
      11/17/2010 $765,000 $664,500 115.12% 3967 26TH ST N
      11/16/2010 $695,000 $610,700 113.80% 5024 34TH RD N
      11/15/2010 $1,237,100 $1,137,100 108.79% 4533 32ND ST N
      11/15/2010 $671,000 $- 3501 21ST AVE N
      11/15/2010 $1,518,500 $1,271,200 119.45% 2031 STAFFORD ST N
      11/12/2010 $725,000 $610,800 118.70% 4431 19TH ST N
      11/12/2010 $456,050 $582,900 78.24% 5270 25TH RD N
      11/11/2010 $744,900 $763,600 97.55% 3412 20TH ST N
      11/10/2010 $933,000 $739,400 126.18% 3813 23RD ST N
      11/10/2010 $1,240,000 $587,100 211.21% 4410 20TH ST N
      11/9/2010 $750,000 $662,900 113.14% 4114 18TH RD N
      11/9/2010 $499,000 $551,500 90.48% 2245 BUCHANAN ST N
      11/8/2010 $1,325,000 $499,000 265.53% 5630 26TH ST N
      11/5/2010 $185,000 $229,800 80.50% 4201 LEE HWY #807
      11/5/2010 $749,950 $728,400 102.96% 4100 25TH PL N
      11/4/2010 $858,000 $631,200 135.93% 4823 LITTLE FALLS RD
      11/4/2010 $822,000 $689,200 119.27% 4651 24TH ST N
      11/4/2010 $720,000 $651,000 110.60% 2632 POCOMOKE ST N
      11/3/2010 $561,000 $573,200 97.87% 2527 JEFFERSON ST N
      11/1/2010 $896,000 $686,100 130.59% 3701 23RD ST N
      11/1/2010 $520,000 $537,800 96.69% 2024 WOODSTOCK ST N
      10/29/2010 $540,000 $528,200 102.23% 5214 26TH RD N
      10/29/2010 $822,400 $812,100 101.27% 2514 23RD RD N
      10/28/2010 $825,000 $732,300 112.66% 6022 LITTLE FALLS RD
      10/28/2010 $792,800 $- 1621 TAYLOR ST N
      10/28/2010 $813,000 $672,700 120.86% 5517 32ND ST N
      10/28/2010 $1,520,000 $1,384,000 109.83% 3513 JOHN MARSHALL DR
      10/26/2010 $693,000 $580,300 119.42% 4839 23RD ST N
      10/25/2010 $500,000 $545,600 91.64% 6421 26TH ST N
      10/22/2010 $525,000 $595,200 88.21% 4001 20TH ST N
      10/22/2010 $825,000 $710,000 116.20% 2901 GREENCASTLE ST
      10/22/2010 $765,000 $708,900 107.91% 2415 MILITARY RD
      10/22/2010 $1,330,000 $602,100 220.89% 5501 36TH ST N
      10/20/2010 $759,000 $735,000 103.27% 4053 VACATION LN
      10/19/2010 $710,000 $741,200 95.79% 2521 UTAH ST
      10/15/2010 $516,128 $536,800 96.15% 1918 WOODSTOCK ST
      10/15/2010 $540,076 $560,700 96.32% 2232 BUCHANAN ST N
      10/15/2010 $709,000 $666,400 106.39% 3036 QUINCY ST N
      10/14/2010 $1,000,000 $785,000 127.39% 4348 26TH ST N
      10/12/2010 $657,200 $600,100 109.52% 4901 16TH RD N
      10/12/2010 $565,000 $541,600 104.32% 2044 WOODSTOCK ST N
      10/12/2010 $1,900,000 $1,414,700 134.30% 3301 ALBEMARLE ST N
      10/8/2010 $655,350 $549,500 119.26% 1712 CAMERON ST
      10/8/2010 $735,000 $652,800 112.59% 4906 YORKTOWN BLVD
      10/8/2010 $790,000 $619,800 127.46% 4826 25TH RD N
      10/5/2010 $668,500 $- 2307 WAKEFIELD ST N
      10/4/2010 $1,200,000 $1,030,800 116.41% 4019 RIVER ST N
      10/4/2010 $875,000 $696,100 125.70% 4894 WILLIAMSBURG BLVD
      10/1/2010 $725,000 $703,300 103.09% 4226 40TH ST N
      10/1/2010 $1,120,000 $1,102,400 101.60% 2378 QUINCY ST
      10/1/2010 $700,000 $619,400 113.01% 2812 KENSINGTON ST
      10/1/2010 $245,000 $308,600 79.39% 5590 LEE HWY #C-22
      9/30/2010 $500,000 $651,700 76.72% 2409 FLORIDA ST N
      9/30/2010 $500,000 $651,700 76.72% Land: 2409 FLORIDA ST N
      9/30/2010 $715,000 $647,100 110.49% 2527 LEXINGTON ST N
      9/29/2010 $220,000 $286,300 76.84% 4343 LEE HWY #503
      9/27/2010 $414,000 $460,000 5217 19TH ST N
      9/24/2010 $531,000 $508,500 104.42% 2543 GREENBRIER ST N
      9/24/2010 $750,000 $730,300 102.70% 3809 37TH ST N
      9/23/2010 $592,800 $542,300 109.31% 2818 SYCAMORE ST
      9/22/2010 $449,000 $465,400 96.48% 2107 DINWIDDIE ST
      9/16/2010 $876,000 $661,400 132.45% 6219 26TH RD N
      9/16/2010 $1,049,000 $917,000 114.39% 5138 38TH ST N
      9/15/2010 $575,000 $582,100 98.78% 3536 NOTTINGHAM ST N
      9/15/2010 $575,000 $572,800 100.38% 2117 DINWIDDIE ST
      9/14/2010 $644,500 $604,100 106.69% 2332 FILLMORE ST
      9/10/2010 $823,000 $738,700 111.41% 4019 24TH RD N
      9/10/2010 $773,000 $747,900 103.36% 2424 ROOSEVELT ST N
      9/10/2010 $725,000 $759,200 95.50% 2301 UPTON ST N
      9/9/2010 $715,000 $624,000 114.58% 5106 33RD ST N
      9/8/2010 $750,000 $703,200 106.66% 4284 38TH ST N
      9/3/2010 $191,000 $188,100 101.54% 4390 LORCOM LN #412
      9/3/2010 $800,000 $855,600 93.50% 2932 JOHN MARSHALL DR
      9/1/2010 $475,000 $559,000 84.97% 2311 DINWIDDIE ST
      8/31/2010 $603,000 $570,500 105.70% 5621 LEE HWY
      8/30/2010 $810,000 $695,900 116.40% 3621 KENILWORTH ST N
      8/30/2010 $835,000 $- 3807 36TH RD N
      8/27/2010 $999,000 $976,000 102.36% 4660 34TH ST N
      8/26/2010 $737,500 $667,900 110.42% 4923 26TH ST N
      8/26/2010 $945,000 $917,000 103.05% 3438 EMERSON ST
      8/25/2010 $1,148,000 $1,264,200 90.81% 3232 ALBEMARLE ST
      8/24/2010 $1,023,500 $825,100 124.05% 1929 QUINCY ST N
      8/24/2010 $640,000 $562,900 113.70% 2329 EDISON ST
      8/24/2010 $775,500 $738,500 105.01% 2902 24TH ST N
      8/23/2010 $692,100 $649,300 106.59% 1901 LINCOLN ST
      8/20/2010 $1,200,000 $1,035,600 115.87% 3464 ROBERTS LN
      8/19/2010 $884,000 $719,300 122.90% 3209 NOTTINGHAM ST

  • http://www.justnewlistings.com jay arlington condos

    @DAn @TaxMan, if you want pick an address and I’ll run the numbers and see how they line up with the tax assessment. I’ve found that usually the tax assessments are below the market value which is good from taxpayer’s perspective.

    At top of my ARlington page is a live graph of home values for the county–single family homes. If anybody wants one for a specific zip code hit me up.

    http://www.justnewlistings.com/arlington-real-estate.html

    • winner

      This is from the same guy who said he did not understand the rental market, yet magically will help you buy a condo….i guess everyone can at least respect his honesty.

      • http://www.justnewlistings.com jay arlington condos

        Winner, my post is not about helping anybody buy anything. It’s about running numbers on a home to compare to their assessment.

        2. The most productive agents only lose money by spending time working rentals because their time is valuable. Usually it is newer agents and less productive agents that work in the rental market—save the exception of listing a previous client’s home for rent as a courtesy. But craigslist is the best place to find rentals anyway from an investor perspective.

        There you go a little extra info on the RE industry.

        I would comment on other issues raised here by I’m too passionate about tax/liberty issues to keep it in check. So I’ll pass on the subject.

  • BoredHouseWife

    I can imagine bureaucrats rubbing their hands together salivating.

  • Bender

    **Time to figure out how to spend that extra $5 mil. Anyone need another dog park?**

    No, they already said that they are going to take our tax money and give it to county employees who make more than many of us do.

    • SoCo Resident

      The $7.3 million dog park “renovation” cannot be mentioned enough! Tks.

      • AllenB

        It’s $1.3m, not $7.3m. Don’t you hate it when facts get in the way?

        • http://arlingtondirt.blogspot.com/ TGEoA

          I hope the homeless move in and use it as their personal toilet. We should be spending money on people, not dogs.

          • AllenB

            And I hope your opinions continue to stay in the minority in this county. I’m guessing they will. Must suck to never, ever get your way in these matters.

      • AllenB

        Oops, type, $1.7M, not $1.3M… but certainly not $7.3M

        http://www.arlnow.com/2010/10/21/upgrades-to-clarendon-dog-park-rely-on-bond-issue/

  • KalashniKEV

    How convenient…

    More reason why only landowners should be allowed to vote.

  • A Tax Increase

    tax increase = increasing assessment without lowering rate!

    The Board can yammer as much as they want, but when they collect more taxes each and every year, they are raising taxes each and every year. Arguing about the assessment and the rate simply masks the real issue: increasing taxes.

    My property taxes have doubled in the last 8 years. Doubled!

    • Burger

      If you want to be shocked. Go look at what you paid for water and waste management 8 years ago. That rate has been increasing at a 12-15% increase every year. in otherwords it has doubled in about 5 years.

      • Wayne Kubicki

        The main cost increase driver on your water/sewer bill has been the debt service on the water treatment plant renovation.

        • Burger

          Which accounts for why there is a 10-13% increase every year? No.

          As for debt service, isn’t the great county bond rating they always tout resulted in lower interest rate. Or, is it just smoke being placed somewhere.

          There are also other ways to service that debt instead say building some stupid artscape or water-filtrated dog park – that money could go to lower the debt service on said water/sewer bill.

          It also doesn’t account for the 10-15% increase in trash pick-up prices over the same period.

  • Burger

    My, that is quite a coincidence. Here is the County Boards procedure.

    $25 million dollar hole.

    Go to the back office.

    Wave a few hands…otherwise know as telling the tax assessors the amount they need.

    Tada.

    Real Estate tax assessments come out to $30 million.

    • KalashniKEV

      Exactly. And the Scamsters will only use it for absurd, useless projects with huge kickbacks, golden parachutes for their fellow gangsters, and fighting against the rest of VA.

  • FreeLoader

    I’m all for more projects in Arlington. I would love to move on in!

  • CJR

    Take it easy on Jay, when my wife and I wanted to sell our condo in 22201, Jay beat out several other internet focused realtors since I liked his style. He’s not your everyday realtor, he’s got a fun edge and nobody knew the condos in 22201 like he did. When we got a lowball offer, he was right there countering from the top of his head. We sold for $40K more than the previous exact condo, and $20K more than the next exact condo a few months later. Very satisfied – so yes, he is qualified to make comments on rental / sales market in the area.

  • http://arlingtondirt.blogspot.com/ TGEoA

    Hey guess what? All of the CB members assessments(except for Babs) stayed exactly the same or WENT down!

    Crooks.

  • Too Easy

    What a BS article , the county just omits foreclosures and bank owned or sold properties from the assessments. Maybe next year they will just omit any home/condo that sold for less than 300,000.

×

Subscribe to our mailing list