City of Falls Church real estate assessments jumped by 6.9 percent in the past year, almost double what its neighbors in Arlington and Fairfax have reported, according to a press release issued by the F.C. City last night. An increase of 6.5 percent in commercial property values, bucking the regional trend, accounts for most of the significant overall net growth.
Just before the News-Press went to press, the City of Falls Church released the results of the City’s real estate assessor showing the total taxable assessed value for all properties within the City as of January 1 standing at $6,858,095,600. After adjustments, the number represented an overall increase of $445.4 million, or 6.9 percent, increase from the year earlier. Market value growth accounted for 5.3 percent and an increase due to new construction 1.6 percent.
The City reported that individual assessment notices were mailed to property owners this week.
The City’s report is based on the work of its new real estate assessor Darius Gould, who replaced Erwving Bailey in that post in recent months. Last fall, Bailey left his position in Falls Church to become the deputy director of assessments in Arlington.
The current report includes the news that overall residential real estate values rose 7.2 percent (6.2 percent market growth and 1.0 percent new construction) over the past year.
Single-family homes and townhomes experienced varied changes but overall increased by 8.1 percent and 7.0 percent, respectively. Residential condominiums have also seen varied changes but an overall 3.2 percent increase.
Overall commercial property values 6.5 percent (2.3 percent market growth and 4.2 percent new construction). Multi-family property values experienced growth of 6.3 percent (4.8 percent market growth and 1.4 percent new construction) over the past year.
Valued at $102.3 million, new construction accounts for 23 percent of the increase in assessed value. Residential new construction contributed $43.2 million to this growth while commercial and multi-family new construction accounted for the remaining $59.2 million of growth.
These assessments will be folded into the City’s annual budgeting process, forming the basis of the City Manager’s recommended budget due later this month, and the subsequent City Council deliberations that will lead to an eventual Fiscal Year 2027 budget adoption in May.
As set forth in the Virginia Constitution, real estate is to be assessed at 100 percent of fair market value. According to City Hall, 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.
City Hall noted that the notice of assessment is an appraisal of the fair market value of the property and not a tax bill. Property tax payments based on these new assessments and City Council establishment of a new fiscal year budget this spring will be due in two installments next December the following June. Public hearings on the budget will be held in 2026 on Monday, April 13, Monday, April 27 and Monday, May 11 at 7:30 p.m.
City Hall announced that Individual property assessments will be mailed imminently. It has added that homeowners who wish to verify the accuracy of their assessment should contact the Office of Real Estate Assessment. Any disagreements with the value determined by the assessor can result in an appeal to the assessor or the City’s Board of Equalization.
The deadlines for assessment appeals are April 15 for an Office of Real Estate Assessment review, and June 5, 2026 for a Board of Equalization review.
