The Arlington County FY 2011 Budget has officially been adopted. Among the budget changes – an 8.3 cent INCREASE in the property tax rate.
This change brings the Arlington property tax rate to $0.945 per $100 assessed value, plus a $1.3 stormwater tax (an increase of $0.3) to a total Arlington County Real Estate Property Tax to $0.958 per $100 assessed value.
How to calculate your tax change (if you do not remember your tax value, look it up here):
If your 2009 Tax Assessed Value was $500,000, your 2009 taxes were:
$500,000/$100 = $5,000 * 0.875 = $4,375 in real estate property taxes
If your 2010 Tax Assessed Value remained at $500,000, your 2010 taxes will be:
$500,000/$100 = $5,000 * 0.958 = $4,790 in real estate property taxes
A total increase of $415.
To read about other changes and more detailed explanation of the FY 2011 budget, visit the Arlington County Website Press Release.