LOUDON COUNTY, Va. — As residential property values continue to rise in Loudoun County, the data center tax base has also increased significantly.
The property appraisal data was presented to the Loudoun County Board of Supervisors on Tuesday by Revenue Commissioner Bob Wirtz and Deputy Commissioners of Property Appraisal Brian Williams and Jim White. Loudoun County’s taxable property was $144.1 billion as of Jan. 1, 2024, an increase of 12.6 percent, or $16.5 billion, from 2023, according to the presentation. 8.7 percent appreciation in existing real estate contributed $11.1 billion of the increase. New construction contributed $4.6 billion and new land contributed $794 million.
Overall, residential real estate makes up 61.3% of the county’s tax base. Data centers are the next highest, accounting for 15.9 percent of the tax base.
The data center tax base increased from $15.996 billion to $25.627 billion in 2024. Data centers make up the bulk of the county’s $43.81 billion commercial tax base. Williams said data center projects to be completed in 2023 will total $1.9 billion.
“The change in valuation is primarily due to the construction of new data centers, the growth and power capacity of existing data centers, and the land acquired for data center construction,” Williams said.
Home equity values across all housing types rose across the board. Values for single-family homes in areas with public water and sewer services increased by 4.67 percent overall, compared to 7.45 percent in 2023. Townhouse values increased by 4.96 percent compared to 5.89 percent in 2023. Condo values rose 3.72 percent versus 3.72 percent. In 2023.
Prices for single-family homes on 20 acres or less in areas without public water or sewer lines increased by 3.44% compared to 13.59% in 2023. Rural properties under 100 acres increased by 5.65%, down from 11.58% last year. Rural real estate over 100 acres increased by 9.52 percent compared to 6.86 percent in 2023.
The average price of a single-family home in Loudoun County is $910,828, up from $863,266 in 2023. The average price of a townhouse increased from $567,421 to $598,229, and the price of a condo increased from $386,386 to $411,774.
Appraisals of existing real estate vary by district. The Sterling area had the highest increase in value for all types of residential and commercial properties at 18.02%, followed by Broad Run at 13.5%, Dulles at 7.62%, Leesburg at 5.87%, and Ashburn at 5.57%. In Algonkian it was 5.46% and 4.86%. 3.59 percent in Little River and 3.59 percent in Catoctin. White noted during his presentation that unlike other parts of the county, Broad Run and Sterling have higher commercial values than residential values.
Residents can search for 2024 property values on the county’s website. Resident tax bills are determined by the value of the property and the real estate tax rate set by the Board of Supervisors in the upcoming budgeting process. Loudoun County Governor Tim Hemstreet is scheduled to submit his proposed county budget on February 14th.
