Average Vienna Residential Property Value Falls Slightly

Some Vienna homeowners will notice their property values have declined when they open this year's assessments.

The average existing residential property value in Vienna fell $15,237, or 2.47 percent, since last year.

But overall, the town has seen growth in residential and non-residential values, according to the town's proposed fiscal year 2013 budget.

The town's total residential values increased by 2 percent and non-residential values jumped by just more than 4 percent, according to town documents.

The total taxable values in town increased 2.51 percent to $3.7 billion. Residential property makes up much of the town's tax base.

New construction and improvements accounted for much of that growth, totaling $55 million. Of that, $49.4 million was residential; non-residential properties added another $6.5 million. 

For a complete picture, see the PDF attached to this article.

The Fairfax County Department of Tax Administration started mailing its 352,364 real estate assessment notices to county taxpayers Tuesday.

The average home in Vienna was assessed this year at $583,928, according to Fairfax County documents, up from $578,417.

The town fell sixth in a list of assessments countywide, falling behind Great Falls ($924,865), McLean ($766,867), Oakton ($625,456), Clifton ($607,908) and Fairfax Station ($588,366).

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, 2012.

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