Example of Arlington County Property Tax Calculation
Arlington County calculates property tax based on the assessed value of the property. The assessed value is determined by the county's tax assessor, and is equal to a percentage of the property's market value. For example, if a property is assessed at 90% of its market value, and the market value is $500,000, then the assessed value would be $450,000.
To calculate the property tax owed, Arlington County uses a tax rate, which is expressed in dollars per $100 of assessed value. As an example, if the tax rate is $0.80 per $100 of assessed value, and the assessed value of a property is $450,000, then the property tax owed would be $3,600.
It is important to note that Arlington County also provides exemptions and credits for eligible property owners. These may include exemptions for senior citizens, disabled veterans, and low-income homeowners. Property owners should contact the county's tax assessor's office for more information on available exemptions and credits.
In summary, to calculate the property tax owed in Arlington County, property owners need to know their property's assessed value and the current tax rate. Applying the tax rate to the assessed value will give them the annual property tax owed.
If you want appeal your property tax assessment - contact your local tax assessor.
Arlington County Property Tax Rates
The following table lists the current property tax rates for Arlington County:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| Real Estate Tax | $1.013 per $100 |
| Personal Property Tax | $5.00 per $100 |
| Business Tangible Property Tax | $5.00 per $100 |
It's important to note that these rates are subject to change and should be verified with the Arlington County Treasurer's office.
Who sets property tax rates in Arlington County ?
The property tax rates in Arlington County, Virginia are set by the County Board each year during its annual budget process. The County Board is made up of five elected officials who are responsible for setting policies and budgets for the county. The property tax rates are typically set in April or May of each year and go into effect on July 1st. The rates are based on the assessed value of the property and are used to fund a variety of county services, including schools, parks, and public safety. Here's a summary:
| Who sets property tax rates? | The County Board |
|---|---|
| When are property tax rates set? | Annually during the annual budget process |
| What is the role of the County Board? | To set policies and budgets for the county |
| When do the rates go into effect? | July 1st each year |
| What services are funded by property taxes? | Schools, parks, public safety, and more |
Overall, the property tax rates in Arlington County are an important source of funding for local government services, and are set by the County Board each year.
Homestead exemptions in Arlington County ?
To help Arlington County residents understand their Homestead exemptions and deductions, we have created a table including all the county-specific details.
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | All homeowners who use their property as their primary residence | $5,000 | This exemption is applied automatically once you apply for the Homestead Exemption |
| Elderly or Disabled Exemption | Homeowners aged 65 or older or with a permanent disability | $20,000 or 50% of assessed value | The homeowner must have a gross income of less than $87,000 |
| Surviving Spouse Exemption | The surviving spouse of a person who qualified for the General Homestead Exemption | $5,000 | The surviving spouse must have been married to the deceased homeowner for at least five years |
| Disabled Veteran Exemption | Veterans who have a 100% service-related disability or their surviving spouses | $10,000 | The exemption is applied to the value of the veteran's vehicle |
| Blind Exemption | Homeowners who are legally blind | $5,000 | The homeowner must provide proof of blindness |
It's important to note that there are other criteria and documentation required to qualify for these exemptions and deductions. To learn more about the Homestead Exemption application process and eligibility requirements, visit the Arlington County website.
When is Arlington County Property Tax due ?
Arlington County Property Tax is typically due on June 15th every year. However, if June 15th falls on a weekend or a holiday, the due date will be extended to the next business day.
There are several payment methods available for Arlington County Property Tax. The most popular method is through online payment. This method allows taxpayers to pay their property taxes quickly and easily, without having to leave their home. To pay online, taxpayers can visit the Arlington County Treasurer's website and follow the instructions.
Taxpayers can also pay by mail. To pay by mail, they need to make a check payable to "Arlington County Treasurer" and include their tax bill number on the memo line. The check and tax bill should be mailed to:
Arlington County Treasurer
P.O. Box 1752
Merrifield, VA 22116-1752
In-person payments can also be made at the Arlington County Treasurer's office. The office is located at 2100 Clarendon Blvd, Suite 201, Arlington, VA 22201. The office hours are Monday to Friday, from 8 a.m. to 5 p.m.
Taxpayers can also set up an automatic payment plan with the Arlington County Treasurer's office. This method allows taxpayers to have their property taxes automatically deducted from their bank account on a monthly basis.
In summary, Arlington County Property Tax is typically due on June 15th every year. Taxpayers can pay their property taxes through online payment, mail, in-person, or set up an automatic payment plan with the Arlington County Treasurer's office.
If you have more questions - contact your local tax collector.
How is Arlington County Property Tax penalty calculated ?
Arlington County Property Tax Penalty Calculation
If the property taxes in Arlington County, Virginia are not paid by the due date, a penalty will be applied. The penalty is calculated as a percentage of the past due amount and accrues on a monthly basis until the taxes are paid in full. Here is an example of how the penalty is calculated:
Let's say that John owns a property in Arlington County and his property taxes were due on December 5th. He didn't pay on time and has a past due amount of $1,000. The penalty for late payment is 10% of the past due amount, plus 1% interest per month.
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Penalty: John's penalty is calculated as follows:
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10% of $1,000 = $100
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The first month's interest is 1% of $1,000 = $10
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Total Penalty: $100 + $10 = $110
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Total Due: The total amount due for John's property taxes on January 5th (one month after the due date) is:
- $1,000 (past due amount) + $110 (penalty) + $10 (interest) = $1,120
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Monthly Accrual: If John does not pay the full $1,120 by February 5th, the penalty will increase by an additional 1% interest for that month, resulting in a total penalty of $121.
It's important to note that if the property taxes remain unpaid for an extended period of time, the county may also initiate legal action, such as a tax lien or foreclosure.
In conclusion, property owners in Arlington County should make sure to pay their property taxes on time to avoid penalties and interest charges. If they are unable to pay on time, they should contact the county treasurer's office to discuss payment options and avoid legal repercussions.
We recommend contacting the Arlington County Tax Office or a local tax professional for the most up-to-date and accurate information.