FAIRFAX COUNTY, VA — Fairfax County has launched 2021 property assessments, showing regular dwelling values climbing higher than $600,000 and household assessments expanding by an average 4.25 percent countywide.
Information suggests 88 per cent of residential properties enhanced in benefit because of to equalization, or marketplace-pushed boosts. Just 4.4 p.c lowered in value, and 7.6 p.c observed unchanged values. The normal evaluation for all households is $607,752, up from $582,976 in 2020. The county mentioned housing charges elevated in most parts of the county due to history-minimal desire costs and small inventory.
For single-loved ones houses, the ordinary value is $725,327, an maximize of 4.17 % from past 12 months. Townhouse and duplex houses are valued at an typical $460,526, an increase of 5.13 percent. Condominiums are assessed at an common $304,877, an enhance of 4.62 p.c.
Listed here are the typical equalization improvements by district in Fairfax County:
- Lee: 6.32 percent
- Mount Vernon: 5.29 %
- Mason: 5:13 p.c
- Braddock: 5.06 percent
- Springfield: 4.89 p.c
- Sully: 4.6 percent
- Providence: 3.91 percent
- Hunter Mill: 3.67 p.c
- Dranesville: 2.53 p.c
Assessments for business, industrial and rental apartment properties reduced by an average 4.05 %. The county cited elevated vacancies, collection loss and industry danger in professional real estate, specially for dining establishments, retail and hotels.
The fiscal calendar year 2022 price range proposed by County Government Bryan Hill phone calls for a a single-cent reduction to Fairfax County’s real estate tax rate. That would established the genuine estate tax rate at $1.14 per $100 of assessed price. However, the maximize in house assessments in the county indicates the regular household yearly tax bill will raise on common by $224.15.
Fairfax County residence house owners are receiving their 2021 assessments in the mail, and assessments may possibly also be seen online. Assessments and the genuine estate tax that will be established by the Board of Supervisors variable into the genuine estate tax bills that will be thanks on July 28 and Dec. 5.