PUBLIC NOTICE: Proposed Real Property Tax Increase

NOTICE OF PROPOSED REAL PROPERTY TAX INCREASE

The County of Arlington, Virginia, proposes to increase property tax levies.

1. Assessment Increase: Total assessed value of real property, excluding additional assessments due to new construction or improvements to property, exceeds last year's total assessed value of real property by 0.8 percent.
2. Lowered Rate Necessary to Offset Increased Assessment: The tax rate which would levy the same amount of real estate tax as last year, when multiplied by the new total assessed value of real estate with the exclusions mentioned above, would be $1.005 per $100 of assessed value.  This rate will be known as the "lowered tax rate."
3. Effective Rate Increase: The County of Arlington, Virginia proposes to adopt a tax rate of $1.038 per $100 of assessed value. The difference between the lowered tax rate and the proposed rate would be $0.033 per $100, or 3.3 percent.  This difference will be known as the "effective tax rate increase." Individual property taxes may, however, increase at a percentage greater than or less than the above percentage.
4. Proposed Total Budget Increase: Based on proposed real property tax rate and changes in other revenues, the total budget of Arlington County will exceed last year’s budget by 5.3 percent.
5. The County also proposes to maintain the real estate tax for properties used for or zoned to permit commercial and industrial uses at the current rate of $0.125 per $100. Revenue from this tax is dedicated for transportation initiatives.

PUBLIC HEARING ON THE TAX RATE WILL BE HELD AT THE BOZMAN GOVERNMENT BUILDING AT 2100 CLARENDON BOULEVARD, 3RD FLOOR, ARLINGTON VA 22201 ON APRIL 4, 2024, AT 7:00 P.M. OR AS SOON THEREAFTER AS POSSIBLE AND WILL BE CABLECAST ON LOCAL CABLE STATIONS COMCAST 25 & 1085 and VERIZON FiOS 39 & 40 AND LIVE-STREAMED AT WWW.ARLINGTONVA.US.

AFTER THE HEARING IS HELD ON APRIL 4, 2024, THE COUNTY BOARD MAY ADOPT A TAX RATE LOWER THAN $1.038 PER $100 OF ASSESSED VALUE, BUT IT CANNOT ADOPT HIGHER RATE.

Visit http://www.arlingtonva.us/Government/County-Board or call 703-228-3130 to sign up to speak. Speaker sign up also available in person at the meeting. Speaker sign up will close at 7:00pm on April 4, 2024. Speakers may participate remotely or in person. Please contact the contact the County Board Office at 703-228-3130 or countyboard@arlingtonva.us to request reasonable accommodations or language translation services at least 3 days prior to the hearing.

A copy of the proposed resolution fixing the real estate tax rate for CY 2024 is on file and available for review by contacting the Office of the Clerk to the County Board at 703-228-3130 weekdays between the hours of 8 a.m. and 5 p.m. or by email at countyboard@arlingtonva.us.

Kendra M. Jacobs, Clerk to County Board

March 21, 2024