Good or Bad NEWS - Property Assessments
When I received my tax bill I was not surprised that my primary resident assessment dropped significantly. My husband looked up to me and asked whether its a good news or bad news. With a pause I can understand its great news if you are not planning to sell your home but not exciting news if you are planning to sell.
According to Washington Post in Loudoun County, the average assessed value of a single-family home dropped 7.1 percent. Preliminary estimates show a 4 percent drop in Prince William County. Arlington County housing values are down eight-tenths of a percent, and Alexandria's average fell about 3 percent and Fairfax County after 6 years of double-digit percentage increases came to an abrupt end yesterday, as notices mailed to taxpayers showed that their properties have lost value for the first time since 1998.
What do you think about the assessment? Please feel free to comment.