Countywide Dialogue on Transportation: Real Estate Tax


What Can You Do?

  • Projects: View unfunded transportation projects being considered for Fairfax County.
  • Engage: View public meetings calendar and see other ways to engage.
  • Documents : View maps and other related documents for this project.

Continuation of Countywide Dialogue on Transportation from Fairfax County

The Board has the authority to annually amend and adopt a new tax rate. The current real estate rate is $1.075 per $100 of assessed value. An increase of $0.01 would generate $20 million in revenues per a year.

Definition:

  • Tax on real estate in Fairfax County.

Current Rate:

  • $1.075 per $100 of assessed value.

 Example Rate:

  • Variable, example: $0.01 per $100 of assessed value (increase from current rate of $1.075 to $1.085).

Potential Annual Revenue at Example Rate:

  • $20 million per $0.01 increase

Requirements:

  • Board of Supervisors has authority to annually amend and adopt a new tax rate.

 Bond Eligibility?

  • Could be bonded.

 Who Pays?

  • Fairfax County real-estate owners.

 Who Doesn't Pay?

  • Those who do not own real estate in Fairfax County.

Effect on Household:

  • For FY2013 Mean Home Value of $448,696, there would be a tax increase of $45 at a 1¢ rate increase.
  • In FY2013, the commercial/industrial real estate tax base in the county is about 21%

Contact Fairfax County: Phone, Email or Twitter | Main Address: 12000 Government Center Parkway, Fairfax, VA 22035
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