This regularly scheduled sponsored column is written by Eli Tucker, Arlington-based Realtor and Arlington resident. If you would like to work with Eli and his team in Northern Virginia and the greater D.C. Metro area, you can reach him directly at Eli@
Eli and his team believe that your real estate needs should be managed by advisors, not salespeople. Their mission is to guide, educate, and advocate for their clients through real advice, hands-on support, and personalized service.
Question: How do County assessed values for property taxes compare to actual market values?
Answer: In January, Arlington announced that residential property tax assessments increased by 3.7% across the county (changes to individual home/land values will vary significantly). This change is meant to align with the increase in market values of Arlington homes, but it falls below actual 2024 market performance for detached and condo properties (good for homeowners paying property taxes).
Tax assessed values remain well below actual market values for most homes in Arlington. In fact, 86.4% of homes sold in 2024 sold for more than their most recent tax assessed value. Nearly the same number of homes sold for 20% or more than their assessed value than those that sold for less than their assessed value.
Homes that sold in 2024 sold for an average of 9.7% (median 9.1%) above their most recent tax assessment.
Those who own homes in the 22205 and 22207 zip codes (most of North Arlington) benefit the most by underassessments, with the average 2024 sale coming in13.2% and 13% over their assessed value, respectively, which translates to under assessments of roughly $1,700 and $2,000 annually. Owners of detached homes and townhouses benefit more from underassessments than condo owners, with a 11.8% average under assessment compared to a 7.1% average difference.
If County assessments were representative of actual market values, the average Arlington homeowner would pay over $1,000 more per year in property taxes, so don’t forget to send the Department of Real Estate Assessments a thank you card!
The following chart shows how much more the average home sold for in 2024 compared to its most recent tax assessed value (note: I’ve done some data clean-up like removing sales of new homes where the assessed value is still based on the original home’s value).
If you believe that the County’s assessment of your home’s value is too high, you have the right to appeal the assessed value; the deadline is March 1 each year
If you’d like to discuss buying, selling, investing, or renting, don’t hesitate to reach out to me at [email protected].
Upcoming (pre-market) ERG Listings, Details and Additional Listings Available by Request
- National Landing – 1BR+den/1.5BA – condo (2023) – 737 Swann Ave Alexandria VA 22301
- Rosslyn – 2BR/2BA 1,050sqft – condo (2007) – 1800 Wilson Blvd Arlington VA 22201
- Rosslyn – 1BR+den/1BA/900sqft – Condo (2007) – 1800 Wilson Blvd Arlington VA 22201
- Courthouse – 2BR/2BA/1,100sqft – Condo (1992) – 1276 N Wayne St Arlington VA 22201
- Courthouse – 3BR/2BA/1,400sqft – Condo (1992) – 1276 N Wayne St Arlington VA 22201
- Arlington Ridge/Aurora Hills – 3BR/2.5BA/2,450sqft – Detached Single Family (1961) – S Grove St Arlington VA 22202
If you’d like a question answered in my weekly column or to discuss buying, selling, renting, or investing, please send an email to [email protected]. To read any of my older posts, visit the blog section of my website at EliResidential.com. Call me directly at (703) 539-2529.
Video summaries of some articles can be found on YouTube on the Eli Residential channel.
Eli Tucker is a licensed Realtor in Virginia, Washington DC, and Maryland with RLAH Real Estate, 4040 N Fairfax Dr #10C Arlington VA 22203. (703) 390-9460.
