Why is an affordable dwelling unit assessed for less than other similar homes?
Affordable dwelling units are subject to covenants which restrict refinancing and transfer of the property. One such restriction written into the deed for an affordable dwelling unit limits the sales price of the unit during a 15-year control period beginning with its initial sale to an amount established by the Affordable Dwelling Unit Advisory Board. As a result, these units that are subject to such deed restrictions have an impaired fair market value because of this contractual limitation on the sales price and potential purchaser pool and are assessed, for tax purposes, substantially lower than other similar units which do not have such restrictions.

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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?