Fairfax County Property Tax
The Fairfax County property tax is based on the appraised value of a home or business, which is determined by the local assessor. It is usually based on comparable home sales, inspections, and other information.
Property taxes are used to fund municipal projects and services. They are usually a significant share of the city’s budget and help to offset other state and federal revenue sources. Fairfax County property tax rates are set each May by the Board of Supervisors. Fairfax County property tax rate is currently $1.11 per $100 of assessed value, and it is expected to remain the same in fiscal year 2024.
The amount of property tax you pay is based on the value of your property as determined by the Fairfax County property tax assessor. This is an annual process and property owners can appeal the assessor’s valuation if they believe it is incorrect. A property’s assessed value is multiplied by the local tax rate to determine how much tax you owe. This is an important factor to consider when comparing property taxes between different counties or cities.
Due Dates
Tax payments are usually due July 28 and December 5. Some property owners pay their taxes directly, while others make payments as part of their mortgage payments. The county mails property tax bills three to four weeks before each installment is due. The county offers several forms of property tax relief to qualifying residents. Seniors age 65 or older and people with permanent disabilities receive exemptions from property tax on their primary residence. Those with low incomes can also qualify for vehicle (“car”) tax relief on one vehicle
Reassessment Process
The Fairfax county’s reassessment process determines the fair market value of each home in the county, or the price that a willing seller and a willing buyer would agree to in a free and open marketplace. The reassessed value is then multiplied by the property tax rate to calculate the homeowner’s annual real estate tax bill. The tax rate is adjusted each year based on inflation and other factors, such as the economy and local real estate market trends.
Appeal Process
Property owners can appeal their assessments through an administrative process by submitting an application by April 3. The applicant may include previous appraisals, expert opinions, and appraisals of similar properties in his or her appeal.
Property owners should also know that the tax levy shown on their assessment notice is an estimate and may change after the Board of Supervisors adopts 2023 tax rates. Until then, the estimated levy is calculated using the current assessment and last year’s adopted (2022) tax rates.
