Loudoun County, Va. (February 13, 2015) – Loudoun County real estate assessments for tax year 2015 are now available online at www.loudoun.gov/parceldatabase, Commissioner of the Revenue, Robert S. Wertz Jr. announced Wednesday.
Printed assessment notices will be mailed to property owners the week of February 9. These assessment notices, which are not tax bills, communicate to property owners the value of their real property as of January 1, 2015 and are reflective of real estate market activity that occurred during 2014. The assessed value in conjunction with the tax rate to be set by the Board of Supervisors in April provides the basis for real estate tax bills that will be due on June 5 and December 5. Property owners who believe their assessments are incorrect may file an Application for Review with the Commissioner online at www.loudoun.gov/reaa by March 9, 2015.
The county’s total taxable real estate increased to $66.5 billion, up 6% overall. An average existing suburban single family detached home saw the largest average year-over-year increase in value of 9.3% while condominiums saw a decline of 4.92%. These numbers are only averages and property owners may see changes that are more or less than these figures. The total value of commercial property in the county was up 5.4% over 2014, with data centers having the greatest impact on that class.
Residents will notice significant changes in their printed notices this year. Due to legislation adopted during last year’s General Assembly session, localities must now report on assessment notices not only the new and immediately prior assessed values of property, but the prior two years’ values, total tax levies, and the percentage year-over-year changes in total taxes levied. Notices have also been enhanced to provide property owners additional information regarding their real property. This year, notices will inform property owners if one or more of the following apply: Agricultural or Forestal District, Historic District, Permanent Open Space Easement, Land Use Assessment, Tax Relief for the Elderly or Disabled, or Affordable Dwelling Unit. Commercial property owners will also see the deadline for submitting their Income and Expense information to the Commissioner. Commercial property owners can expect to begin receiving income and expense forms in the mail in April or can obtain the necessary reporting form online.
Participants in the county’s Land Use Assessment program will likely see increases in their taxable use values for 2015. The State Land Evaluation Advisory Council, the agency that supplies use values to local tax assessment offices, increased the per acre values for all agricultural, horticultural and forestry categories in Loudoun, except open space. The actual deferred value will be different for each property owner depending on the current fair market of the property, its use-value category and soil type.
Property owners who believe their assessments are incorrect may file an Application for Review with the Commissioner online at www.loudoun.gov/reaa by March 9, 2015. Thereafter, appeals may be made to the Board of Equalization until June 1. Taxpayers may also communicate with their respective appraiser whose name and contact information is listed on the assessment notice, or by calling the Commissioner’s office at 703 777-0260 weekdays during regular business hours of 8:30 AM to 5:00 PM or by emailing email@example.com. The Commissioner of the Revenue’s offices are located at the County Government Center, at 1 Harrison St., SE in Leesburg and in the Loudoun Tech Center at 21641 Ridgetop Circle, Suite 100, in Sterling.