Real Estate Assessments Up 1.78 Percent In McLean

MCLEAN, VA—Fairfax County reports that 2018 residential property assessments increased by an average of 1.78 percent in McLean, a smaller change compared to the countywide average of 2.17 percent.

On the other hand, the average home assessment for 2018 for McLean was $924,703, notably higher than the average $535,597 Fairfax County property. Last year's average for McLean was $908,497. Nearby, Great Falls continues to hold the highest average property value ($1,052,668), which increased from $1,038,630 last year.

Here are the 2018 average property values for each area of Fairfax County:

• Alexandria: $445,859
• Annandale: $464,220
• Burke: $467,449
• Centreville: $401,327
• Chantilly: $479,051
• Clifton: $674,195
• Fairfax: $503,285
• Fairfax Station: $660,787
• Falls Church: $473,562
• Great Falls: $1,052,668
• Herndon: $488,507
• Lorton: $407,393
• McLean: $924,703
• Oakton: $692,088
• Reston: $432,136
• Springfield: $450,304
• Vienna: $721,305

Not all property values increased, so residents should check their individual assessments the county has mailed and put online. Countywide, 64.5 percent of residential properties had their value go up. Some of the factors that impact assessments are sales in the neighborhood, economic factors like average number of days homes have been for sale and sales volume, new construction, re-zoning and property characteristics.

Meanwhile non-residential properties, which include commercial, industrial and rental apartment buildings, increased by an average of 3.79 percent across Fairfax County.

The county reminds residents that the real estate assessments are not tax bills. Homeowners pay real estate taxes through their mortgage payments or directly to the county biannually on July 28 and Dec. 5.

The tax levy indicated on the assessment is just an estimate, as the new real estate tax rate will be adopted by the Board of Supervisors on May 1. County Executive Bryan Hill's advertised budget calls for a 2.5 cent tax increase. See more about this year's budget process here.

Residents in the McLean Community Center district, Tysons Service District and other special tax districts pay an additional tax on top of the Fairfax County rate. The McLean and Tysons district real estate tax rates are expected to remain the same for the next fiscal year.

Residents can appeal the assessment if they feel it reflects an incorrect value. Residential property owners can file the appeal online, and all property owners can download a paper application. Assessment appeals are due by May 1 for review by the Department of Tax Administration or by June 1 if filed with the Board of Equalization of Real Estate Assessments.

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