How will an affordable dwelling unit be assessed after the expiration of the 15-year control period?
Beginning the year after the expiration of the 15-year control period, the property will be assessed and taxed as of January 1 based on market sales prices of similar properties within the unit’s neighborhood occurring during the reassessment review period which is generally the 12 months immediately prior to the valuation date of January 1. This change in value caused by the lifting of restrictions will result in a significant increase to the property’s assessment. Affordable dwelling unit owners are encouraged to contact their mortgage company concerning their tax escrow accounts since it may be necessary to increase their monthly payment to cover the upcoming year’s increase.

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1. How is an Affordable Dwelling Unit assessed for tax purposes?
2. How is an affordable dwelling unit’s assessment affected if it is improved with a new deck, bath, addition or finished basement?
3. Why is an affordable dwelling unit assessed for less than other similar homes?
4. How can I determine when the 15-year control period on an affordable dwelling unit expires?
5. How will an affordable dwelling unit be assessed after the expiration of the 15-year control period?
6. When will an affordable dwelling unit assessment be available after the 15-year control period ends?
7. After the 15-year control period ends, Affordable Dwelling Units must share the profits upon resale with Loudoun County, does that impact the assessment?
8. Where can I find out more information about Affordable Dwelling Units?