Arlington’s real estate assessments rebounded in a big way this year, nearly recouping all of last year’s declines in value.
Overall, property values are up 6.3 percent, in comparison to last years 7.2 percent decline. And commercial real estate posted strong gains of 12 percent after declining almost 13 percent last year.
The good news was enough for County Manager Barbara Donnellan to declare that the Arlington economy, “which weathered the daunting recession, is now growing again.”
Commercial property, which account for nearly half of the county’s real estate tax base, posted some of the biggest gains. Some hotels were up as much as 22 percent, and other office properties climbed 15 percent.