Property Taxes Going Up in Arlington County

ARLINGTON, VA — Bad news, Arlington County homeowners: your property taxes are going up again under the new $1.25 billion fiscal 2018 budget just adopted by the Arlington County Board.

Property owners will see a 1.5-cent property tax hike, which will go largely to Metro and local schools, according to a statement from the county.

"This budget is a compromise and a consensus of the Board, and reflects the values of this community," said Arlington County Board Chair Jay Fisette in the statement. "The Board agreed to a modest increase in the property tax rate — less than the Manager recommended — because of the extraordinary funding needs of Metro and our public schools. Both Metro and our schools are vitally important to Arlington. We and every other jurisdiction served by Metro are having to increase our contributions as Metro continues to rebuild. And the County must help APS meet the challenge posed by its growing student population. Both investments are investments in our future."

County Manager Mark Schwartz had proposed a two-cent increase in the real estate tax rate, but the Board chose to cut portions of the budget to keep the increase a 1.5 cents, the statement adds.

The tax increase brings the current rate from $0.991 per $100 of assessed value to $1.006.

In real terms, that means if you own a home worth $500,000 -- about the median sales price of a home in Arlington -- your taxes will go from $4,955 to $5,030, an increase of $75 annually.

Image via Arlington County