Higher Assessments For Fairfax County Homeowners In 2020

FAIRFAX COUNTY, VA — Real estate assessments in Fairfax County are up an average of 2.65 percent, according to a county release. The average assessments for all homes is $580,272, which is about $15,000 higher than the average assessment of $565, 292 in 2019. In contrast, non-residential property values, such as commercial, industrial, and rental apartments, went up 2.87 percent on average.

The county mailed out more 355,000 updated real estate assessments to homeowners this week. Homeowners can find their assessment on the Fairfax County website.

Assessments are based on equalization changes, such as increases and decreases in the value of a home due to fluctuations in the housing market. In Fairfax County, 79 percent of residential properties increased in value over the previous assessment.

Here are the average residential assessments by property type in 2020:

• Single family detached homes: $692,409 (up 2.36 percent)
• Townhouse/duplex: $437,346 (up 3.43 percent)
• Condominiums: $288,246 (up 4.36 percent)

On Tuesday, Feb. 25, Fairfax County Executive Bryan Hill rolled out the Fiscal Year 2021 Advertised Budget Plan, which includes an increase of the real estate tax rate by 3 cents per $1.18 per $100 of assessed value. Two cents of that raise would go the General Fund, with the remaining penny dedicated to affordable housing.

Fairfax County residents could see the average real estate tax bill increase by $346 next year, if the Board of Supervisors approves the FY 2021 Budget Proposal.

Citizens will have an opportunity to learn more about the budget proposal and provide feedback at upcoming public hearings, before the Board of Supervisors votes on the proposal on May 5.