How is an Affordable Dwelling Unit assessed for tax purposes?

Sales prices of affordable dwelling units are established by the Affordable Dwelling Unit Advisory Board and form the basis of the real estate assessment in the year of sale to the original purchaser. Thereafter, a Consumer Price Index factor is annually applied to the prior year value resulting in the new assessed value. Properties that are resold are assessed at their new sales price plus a daily proration from the date of sale based on a Consumer Price Index factor.

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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?