More than 350,000 updated real estate assessments for 2016 are now available online (and they are being mailed to all property owners). Approximately 55 percent of residential property in the county increased in value over the past year due to equalization, with an average increase of 1.64 percent. Nonresidential real estate values (such as commercial) increased 2.87 percent on average due to equalization.
Of the 353,736 taxable parcels in Fairfax County:
- 241,684 have an assessment change
- 112,052 have no assessment change
Here’s the breakdown of average home property assessments (averages are not necessarily indicative of individual properties/neighborhoods):
- Countywide average for all homes – $527,648
- Single family-detached homes – $632,507, up 1.69 percent
- Townhouse/duplex properties – $392,951, up 2.05 percent
- Condominiums – $261,792, up 0.73 percent
And here’s the geographic breakdown of changes:
Here are 4 key things you should you know about your assessment:
The real estate assessment notice is not a bill. Most homeowners pay real estate tax as part of a monthly mortgage payment. Your mortgage company then sends the taxes directly to the county. However, some homeowners pay their real estate taxes directly (due July 28 and Dec. 5). Contact your mortgage company if you are not sure how your tax bill is paid. Here’s a sample assessment you’ll receive in the mail:
The 2016 estimated tax levy shown on your assessment is just that – an estimate. The estimated tax for 2016 is based on the 2016 assessment and the county’s 2015 tax rates. This is an estimate because the Board of Supervisors has not yet adopted tax rates for 2016, but will do so as part of the budget process. The “levy,” or tax, is a combination of your current assessment and the current adopted tax rates. Based on a prior state code change, this year’s notice also shows the taxes you were actually charged for in 2014 and 2015 (if applicable). Please note the taxes shown for these years may not represent the amount actually paid as late payment penalties and interest, supplemental charges and collection fees are not included.
Important note for participants in the our tax relief program for seniors and people with disabilities. The 2016 tax estimate shown on your notice does not reflect your 2016 tax relief benefit. The filing deadline for your tax relief application is April 1, 2016. You will be notified about your tax relief status by June 30, 2016. The notice does reflect any tax relief exemptions you may have received in tax years 2014 and 2015.
There are several factors that affect real estate assessments:
- Sales in the neighborhood
- Economic factors – It took an average of 55 days to sell a home in 2015, up from an average of 47 days in 2014
- Improvements to the property (remodeling, additions)
- New construction and rezonings
- Property characteristics (such as size, age and amenities)
Learn more in this video:
You are encouraged to review your assessment notice within 30 days. If you have questions, contact the Department of Tax Administration to discuss your assessment with appraisal staff:
- By email (preferred way)
- Call 703-222-8234 (TTY 703-222-7594) Monday through Friday, 8 a.m. to 4:30 p.m. (extended Thursday hours until 6:30 p.m.).
- Additional information is online, such as how to appeal your assessment, tax relief for older adults/people with disabilities, and more is available at www.fairfaxcounty.gov/dta
In addition, there’s new way to access all tax information through the MyFairfax portal — real estate, business property and personal property (vehicles). Learn more: