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Rossland View appeal fails; board confirms county's assessment
Summary
Appellants asked the board to lower Rossland View's 2026 assessment from $18,949,800 to $14,270,700 citing higher expenses and a higher cap rate; county staff presented historical growth and testing; the board unanimously confirmed the county's assessment.
The Arlington County Board of Equalization denied an appeal seeking to reduce the 2026 assessment for Rossland View, a 45-unit mid-rise at 1820 North Quinn Street, and confirmed the county's assessment of $18,949,800.
Appellant counsel argued the county's expense assumptions were low and proposed increasing the cap rate from the county's 4.517% to 5.75%, producing a requested value of $14,270,700. The appellant cited 2025 actual expenses of $455,121 and the rent roll snapshot as of Jan. 1, 2026, claiming the county's per-unit expense assumptions fell short of reported actuals.
County appraiser Ms. Shelsworth said Rossland View has shown year-over-year increases in potential rent, GPI and NOI during the prior four years and that the county's tested expense ratios (including a 30% test) still produced a valuation above the 2026 assessment. "For the past four years, the subject has demonstrated positive trends in potential rent, GPI, EGI and NOI," Ms. Shelsworth said, and she asked the board to confirm the assessment.
Board members asked the appellant to explain the logic for projecting lower revenue in 2026 despite stronger historic GPI and NOI. After deliberation the board found the county's tested assumptions reasonable and confirmed the assessment unanimously.
No further direction or follow-up was recorded.
