McKay vows to reduce property tax rate

Acknowledging the burden of skyrocketing real estate assessments, Jeffrey McKay, chair of the Fairfax County Board of Supervisors, told the community Feb. 25, “I will be strongly supporting reducing the tax rate to offset some of this impact.”

Assessments for 2022 are up an average of 9.57 percent across the county compared to last year, with some homeowners seeing an increase as high as 25 percent.

Under the current tax rate – $1.14 per $100 of assessed value – the average taxpayer would pay an additional $666 in property taxes.

Related story: Real estate assessments are way up

The higher assessments reflect significant increases in home values. Yet, the soaring assessments would add to the financial stresses experienced by homeowners on top of the economic hardships caused by the pandemic, McKay said. 

“One of my top priorities for our FY 2023 budget is to reduce the tax rate to offset the impacts these high assessments have on our residents’ financial well-being,” he said.

The proposed budget for FY 2023 presented by County Executive Bryan Hill Feb. 22 would retain the current $1.14 tax rate. The draft budget also includes nearly $80 million in discretionary funds that could be used to reduce the tax rate.

Related story: County executive proposes an ‘optimistic’ budget for FY 2023

The Board of Supervisors doesn’t adopt a budget until May 10. The 2023 fiscal year starts July 1.

“I believe we can reduce the tax rate and still address recruitment and retention strategies for our county agencies hardest hit throughout the pandemic,” McKay said. That means supporting the frontline workers – police, fire and rescue, social workers, mental health specialists, for example – who “have all sacrificed so much during this unprecedented public health crisis.”

Even if the tax rate is decreased “some of our homeowners will be impacted by these assessments,” he said, adding that the expanded tax relief program for seniors and people with disabilities would offer some help.