Assessing Real Estate: Art or Science?
On the front page of the Metro section of today’s Washington Post, there was a story about a Fairfax County homeowner who recently realized the county’s tax assessor had been assessing the home for 402 square feet more than the house had. According to the Post:
“County appraisers looking at the house from the outside assumed that there was a second floor room above the family room. In fact, the family room reaches to the roof, with high windows that could give the outward appearance of a second-floor room.”
The homeowner lost his appeal at the department level, but achieved victory when the county’s Board of Equalization lowered the assessment from $874,000 to $810,000, for a savings of $670.
Arlington County assessment notices for 2007 were due in the mail this past week. Consequently, Arlington County taxpayers should know by Tuesday one of the factors affecting their tax bills for 2007. Consequently, they should be alert to whether county records accurately depict their property. As the Post story notes:
“assessors rely on a combination of factors including the cost of building the house, the square footage and the location. Features such as a cathedral ceiling are not evaluated in square footage but in a formula for the overall quality of the house.”
If you have further questions about appealing your property's assessment, Arlington's Department of Real Estate Assessments has a great deal of information online, or you can call them at (703) 228-3920. The National Taxpayers Union publishes the booklet How to Fight Property Taxes.