Tuesday, February 18, 2025 – The total taxable assessed value for all properties within the City of Falls Church, VA as of January 1, 2025, stands at $6,421,642,400. This represents an overall increase of $610.48 million, or 10.51 percent increase, from January 1, 2024. Market growth is 5.46 percent and an increase due to new construction is 5.04 percent.  Individual Assessment notices were mailed to property owners in mid-February. Updated assessment information is also available on the City’s public website: https://gis.vgsi.com/fallschurchva/   Residential: Overall residential real estate values have risen 8.57 percent (6.85 percent market growth and 1.72 percent new construction) over the past year. Single-family homes and townhomes have experienced varied changes but overall increased by 8.22 percent and 6.08 percent respectively. Residential condominiums have also seen varied changes resulting in an 18.39 percent increase due in part to the completion of The Oaks Condominium at West Falls Church development.   Commercial: Overall commercial property values have increased 5.54 percent (2.77 percent market growth and 2.77 percent new construction) since January 1, 2024. This is attributed to robust performance in the retail and hotel markets and the completion of projects at West Falls Church. Further, multi-family property values have experienced a significant growth of 27.44 percent (1.82 percent market growth and 25.62 percent new construction) over the past year, primarily driven by new construction projects.  New Construction: Valued at $293.2 million, new construction accounts for 48 percent of the increase in assessed value. Residential new construction contributed $69 million to this growth; while commercial and multi-family new construction accounted for the remaining $224.2 million of growth.  Real Estate Calculations: As set forth in the Virginia Constitution, real estate is assessed at 100 percent of fair market value. The City’s Office of Real Estate Assessment calculates property values annually using mass appraisal techniques that are standard in the real estate assessment industry. Real Estate Taxes and Public Hearings: The notice of assessment is an appraisal of the fair market value of the property; it is not a tax bill.  Property tax payments will be due in two installments on Dec. 5, 2025, and June 5, 2026; property owners will receive bills prior to these dates.  The real estate tax rate will be determined on May 12, 2025, when the City of Falls Church Council adopts the Fiscal Year 2026 Operating Budget and Capital Improvements Program and sets the tax rate. Learn more about those meetings at the following link: www.fallschurchva.gov/Budget  Public hearings on the budget will be held in 2025 on April 7, April 21, and May 12 at 7:30 p.m.  To see the complete budget schedule visit the following link: www.fallschurchva.gov/Budget  Assessment Appeals: Individual property assessments will be mailed during the mid-February 2025. Homeowners who wish to verify the accuracy of their assessment should contact the Office of Real Estate Assessment at 703-248-5022 (TTY 711). Should there be any disagreement with the value determined by the Assessor, homeowners may appeal to the Assessor and/or the Board of Equalization. It is important to note that an assessment appeal is not a complaint regarding higher taxes. More information about the assessment review process is available at the following link: www.fallschurchva.gov/AssessmentProcess. The deadlines for assessment appeals are  Tuesday, April 15, 2025, for an Office of Real Estate Assessment review, and  Friday, June 6, 2025 for a Board of Equalization review.  As appeal reviews may not be complete prior to the Board of Equalization application deadline, property owners who have not received their first level appeal results by May 23, 2025, should file an appeal to the Board of Equalization to preserve their rights. More information about appeals process is available at the following link: Appeals Process | Falls Church, VA – Official WebsiteProperty owners must prove that their property’s market value is either inaccurate or unfair.  State law puts the burden of proof on the property owner to demonstrate that the assessment is incorrect.