Average Oakton Home Values Rise Slightly

Some Oakton homeowners may have noticed their property values have increased when they opened this year's assessments, which the Fairfax County Department of Tax Administration mailed earlier this week.

The average existing residential property value in Oakton rose $9,488, or 1.54 percent, since last year.

With the average home worth $625,456, Oakton is third on a list of assessements countywide, falling behind Great Falls ($924,865) and McLean ($766,867). 

Countywide, nearly 41 percent of residential properties increased value while  another 34 percent had no change for 2012, the county said in a statement.   Overall residential properties values grew less than one percent, the county said.

Existing commercial properties increased in value by 8.21 percent, led by apartment buildings and high-rise office buildings.

County executive Anthony Griffin noted  that nine new office buildings are under construction and most of them are speculative buildings, meaning they have no confirmed tenants.

Developers only build "spec" buildings when they think the market is improving, he said.

Citizens can obtain a list of residential sales within each assessment neighborhood from the DTA website.  

Administrative appeals can be filed with DTA if citizens believe their assessment is not equitable in comparison with similar properties or if they believe their assessment exceeds fair market value. Appeals may be made:

• In writing to the Real Estate Division of DTA.
• Citizens may appeal their residential assessment online through DTA’s homepage,www.fairfaxcounty.gov/dta/realestatetax_home.htm.
• Appeal applications can also still be obtained by calling DTA; or, can be downloaded directly from DTA’s homepage.

DTA requests that appeal applications be filed by April 6.

Contact the Department of Tax Administration (DTA) at 703-222-8234; or, citizens may contact the Tax Department via email.