Falls Church Property Assessment Values Increase In 2019

FALLS CHURCH, VA—Property values are on the rise in Falls Church, according to 2019 assessment data released by the city.

Overall residential and commercial property values have increased from January 2018. Commercial property values rose by 4.3 percent and residential real estate values by 2.93 percent over the last year.

Changes in singly family homes, townhouses and condominiums value vary, but they increased overall by 2.87 percent, 1.02 percent and 4.91 percent, respectively.

Along with rising property values comes growth of the tax base in the city. The tax base has grown by 3.35 percent increase since last year. New construction accounted for about a third of that growth while the remainder is from appreciating property values.

The city assessed taxable property based on fair market value as of Jan. 1, 2019. Property owners will receive their assessments in the mail in late February.

The assessment values will factor into the next tax bills for fiscal year 2020. The tax bills will also depend on the real estate tax rate Falls Church City Council adopts on April 22. These tax bills will be due on Dec. 5, 2019 and June 5, 2020.

If property owners choose to appeal their assessments, deadlines are March 29 for an Office of Real Estate Assessment review and June 7 for a Board of Equalization review.

For a timeline of the upcoming city budget process, visit the city's budget page.

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