Real estate assessments rise 2.65 percent
Fairfax County residential real estate assessments for 2020 are up an average of 2.65 percent countywide over the 2019 rate. In Mason District the average assessment rose 3.57 percent.
The average assessment for all homes countywide is $580,272, compared to $565,292 last year.
The average assessed value for single-family detached homes countywide is $692,409, a 2.36 percent increase over last year. For townhouses, it’s $437,346, up 3.43 percent, and for condominiums, it’s $288,246, up 4.36 percent.
Almost 79 percent of residential property in the county increased in value over the past year due to equalization.
Nonresidential real estate values (commercial, industrial and rental apartments) increased 2.87 percent on average due to equalization.
Changes in assessments are based on several factors, such as home sales in the neighborhood, sales volume, the average number of days homes are on the market, improvements to the property (remodeling and additions), new construction, rezoning, and property characteristics (size, age, condition, and amenities).
Assessments for 2020 are being mailed to property owners and can be viewed online here.
The real estate assessment notice mailed to homeowners is not a bill. Most homeowners pay their real estate tax as part of their monthly mortgage payment. For those who pay their real estate taxes directly, they are due July 28 and Dec. 5.
The 2020 estimated tax levy shown on the assessment is not the actual tax amount owed. That’s because the Board of Supervisors has not yet adopted tax rates for 2020, but will do so as part of the budget process. [County Executive Bryan Hill is recommending a 3-cent increase per $100 in assessed value.]
The notice also doesn’t reflect the discounts available to eligible seniors and people with disabilities. The deadline for that tax relief program is April 1.
Homeowners who have reason to believe their real estate assessment is incorrect can file an appeal with the Department of Tax Administration or the Board of Equalization.
4 responses to “Real estate assessments rise 2.65 percent”
Leave a reply
One thing we can count on is the County taxing us more and providing less services. Have any of you noticed how filthy are curbs and roadways are compared to Arlington and Alexandria? Take a ride from DC to Fairfax and it would be noticeable. And yea I know the VDOT are in charge of FFX roads. Why aren't our supervisor pressuring VDOT to clean up the filth and the grass that grows and dies in the gutter/curbs….awful and embarrassing,
Fairfax county officials have find a new way to milk the residents here.
Pay more – Get less.
Cant wait for the election to happen.
Oh wait, they just did.
The joke is on us – we vote time and time again to those stealing our money.
I wonder what marching orders are given to the people who conduct the assessments before they begin. Are they given certain numbers and $$$s to meet?
Raising Assessments AND tax rates this year! Double HIT! Thanks Fairfax County. Forcing us out with your tax rates so you can provide affordable housing for others. How about cutting back on your frivolous spending to provide affordable housing instead of raising rates and pushing your residents out of the County to find something they can afford to live in?!?