Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Tax Assessment Hotels topic
No spam. Unsubscribe anytime.
Board affirms county revision for Courtyard Crystal City after owners cite market offers
Summary
Owners of the Courtyard Crystal City argued NOI was overstated and submitted seven market offers (best $58.25M); the county recommended a revised assessment of $59,155,800 and the board confirmed the county’s revision.
Mr. Rashid, representing the owner of the Courtyard Crystal City (RPC 34027026, 2899 Richmond Highway), told the board the county’s NOI figure is about $100,000 higher than actual performance and said the property drew seven written offers when marketed in 2025, the highest at $58,250,000.
County staffer Mr. Jenkins said the county adjusts national and East‑Coast cap‑rate surveys to reflect Arlington’s strong local hotel market and cited prior years’ performance to support a modest 2026 NOI increase. He noted hotels undergo recurring renovations and that the county’s revision reflects a conservative return toward pre‑2025 performance.
Board members asked about the difference between select‑service and full‑service classifications, amenities and how offers should influence value. After discussion a motion to confirm the county’s revised assessment was moved and seconded; the board confirmed the county’s recommended revised value of $59,155,800.
The board’s confirmation leaves the county’s revised 2026 assessment in place. Parties exchanged data about offers and sales but the board ultimately sided with the county’s regional‑survey approach and conservative projection.
