Board cuts 2026 assessment to $34.73 million for 100% affordable lease‑up project after split estimates
After debate over applying the income approach versus valuing completed improvements under Virginia law, the board reduced the 2026 assessment for 1300 North Pierce to $34,733,600 by a 4–1 vote, citing column E figures and a 3% vacancy adjustment.
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The Arlington Board of Equalization voted to reduce the 2026 assessment for an affordable housing lease‑up at 1300 North Pierce to $34,733,600, adopting a reconstruction based on the appellant’s column E numbers with a 3% vacancy and capping approach.
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