FY2022 Real Estate Tax: Residents Lose, Businesses Win County Manager proposes balancing the budget of the backs of residents. No change in the tax rate of $1.013 is proposed. Increased revenue is achieved by manipulating assessments. In addition the separate “stormwater tax” would increase from $0.013 to $0.017.
Property Values & Taxes Rise Significantly
Residential property values increased 5.6% overall. The assessed value of the average single-family property rose from $686,300 to $724,400. Approximately 90% of residential property owners will see their assessed value increase. The tax rate is also expected to increase. Assessments will be mailed to Arlington property owners beginning Jan 15. See Your Assessment OnlineNews Release
Arlington Rents Drop 15% A survey of the nation’s 50 largest cities finds that COVID-19 disrupted the rental market in expensive cities, like Arlington. The change in annual trend started late March as COVID-19 concerns intensified. At the same time rents rose in midsize cities. The survey notes that expensive rental markets possess many renters able to telework, eliminating the need to live close to work. Also, laid-off workers became unable to continue paying high rents. The farther away from city centers, rents have not declined as much. Further declines are not anticipated. Survey at Apartment List
ICYMI: Rosslyn Holiday Inn Implosion (Video)
The 18-story former Holiday Inn hotel in Rosslyn came down Sunday in a controlled demolition. View Video by ARLnow. Booms start at 8:30 mark. Fails to play in some web browsers.
Clarendon Sector Plan Review Begins
The County has kicked off a review update process for the Clarendon Sector Plan, which was adopted in 2006. The study is immediately south of Lyon Village: bounded by Washington Blvd, North Hudson St., N 10th St & Wilson Blvd. What happens in Clarendon has a big impact about what happens in Lyon Village. An Engagement Session is scheduled for Oct 29. Project Website Project Documents Virtual Walking Tour
Developer Spare That Tree
Rampant development by spec builders is rapidly changing the character of Lyon Village and surrounding neighborhoods. A towering, 96-foot, 60-inch diameter, 175-210 year old, oak tree at 5920 N. 35th St, believed to be Arlington’s tallest outside the National Cemetery, is threatened by developers seeking to clear cut the lot where it stands. Full story at Falls Church News Press
Average Arlington Single-Family Home Price Up 118% to $2M
Before the tax man gets too excited, this is due to the sale of the Case mansion for $45M. Median price of all Arlington homes sold in Jan is $584,500, down 5%. WSJ
The average home value for LV detached homes will increase about 6% (vs. 4.3% county wide). This is about triple the current rise in the CPI. About 85 percent of county residential property owners will see their assessed value go up.
Assessments were mailed to Arlington property owners on Jan 17 or can be viewed online.
The majority of County revenues come from the real estate tax (57% in 2019).
In 2019 a total of 159 homes were demolished, 3 a week on average. These are just complete demolitions and not “major renovations” which often result in near complete demolition.
● 36 are located in National Register Historic Districts
● 85 are speculative developments (owned by developers)
These buildings are often replaced with new construction that is out of scale and proportion to the community.
Preservation Arlington urges citizens to adopt Local Historic District designations for their communities, with standards for design, height, and placement that could be customized to reflect community needs while still allowing reinvestment to occur.
The south edge of Lyon Village is in the Clarendon Revitalization District…
THE FOLLOWING CASE TO BE HEARD BY PLANNING COMMISSION AND COUNTY BOARD on January 25, 2020:
ZOA-2020-01: An ordinance to amend, reenact, and recodify ACZO Articles 7 & 12 to permit the establishment of assisted living facilities, independent care living facilities, nursing homes, and continuing care retirement communities in the C-3 zoning district to enable their establishment within the Clarendon Revitalization District as shown on the General Land Use Plan, and for other reasons required by public necessity, convenience, general welfare, and good zoning practice.
To to promote housing options for seniors and persons with disabilities., the County Board voted to amend the Zoning Ordinance. The change allows new assisted living and similar facilities in areas where multifamily development is already allowed. The change also lowers parking requirements at these facilities.
The amendment expands permissible areas to 18 zoning districts located near and along Arlington’s major planning corridors. Designated areas in Lyon Village are primarily along Lee Hwy and Wilson Blvd (shaded areas on map). Some of these areas currently include single-family houses.
County Board seeks ways to solve Arlington’s affordable housing shortage by leveraging existing county housing programs, zoning changes, and private-public partnerships.
Six initiatives fall within the overall Housing Arlington program:
1 Land Use Tools
● Accessory Dwelling Regulations Update
● Elder Care Zoning Study
● Bonus Density
● Plan Lee Highway
● Housing Conservation District
● Missing Middle Housing Study
2 Financial Tools
3 Institutional Partnerships
4 County Employee Housing
5 Condominium Initiative
6 Affordable Housing Master Plan Review
No mention of transit
Did failure to address Columbia Pike transit hamper development in the parts of Arlington and Fairfax counties most available for affordable housing?
Introduced by: Ibraheem S. Samirah Delegate from east Loudoun & west Fairfax Cos
SUMMARY AS INTRODUCED:
Middle housing allowed on lots zoned for single-family use. Requires all localities to allow development or redevelopment of “middle housing” residential units upon each lot zoned for single-family residential use. Middle housing is defined as two-family residential units, including duplexes, townhouses, cottages, and any similar structure. Such structures shall not require a special use permit or be subjected to any other local requirements beyond those imposed upon other authorized residential uses. Localities may regulate the siting, design, and environmental standards of middle housing residential units, including setback requirements, provided that the regulations do not, individually or cumulatively, discourage the development of all two-family housing types permitted through unreasonable costs or delay.
Skyrocketing Property Tax?
Arlington County has one of the highest median property taxes in the United States, ranked 40th of the 3143 counties in the USA. Arlington collects, on average, 0.8% of a property’s assessed fair market value, which amounts to about 3.6% of average resident’s yearly income. Source: tax-rates.org
Home Values are expected to increase significantly. Average Arlington sold price went up by 12.35% between Sept 2018 ($628,412.) and Sept 2019 ($705,997) Source: Bright MLS
GMU Arlington Campus Expanding
GMU announced plans to tear down one of its four Arlington buildings to construct a 400,000-square-foot building. The new building will house classrooms, computer labs, short-term housing, an Institute for Digital Innovation, and a newly established School of Computing. Read More at ARLnow
Arlington Houses Continue To Get More Expensive
Long & Foster‘s September market snapshot shows 193 sales in Arlington (down 13% from last Fall) and 268 homes on the market (down 52% from last Fall). The median September price was $590,000 (15% more than last Fall). Click for story at WTOP
A forewarning of steep County Property Tax assessments and tax increases if rates remain constant or increase.
LV Ranks 3rd in VA for High Rents
Data from RENTCafe lists Lyon Village as the priciest in Virginia, with an average monthly rent of $2,420, rising 5.44% year-over-year. Rosslyn is in first place. Story at ARLnow
Massive Redevelopment Plan Announced for Crystal City
Plans include redevelopment of approximately 2.6 million square feet of space across five multifamily buildings and one office building, upgrades to Route 1, and possible removal of overpasses near the Crystal City Metro station. Read story at ARLnow
Annual Real Estate Update
Neighbors gathered for a lively discussion over wine and cheese, to talk about the current real estate market and its impact on Lyon Village. A primary focus of the meeting was “Knowing Your Value.”