Fairfax County FY 2023 Budget – FINAL APPROVAL

On Tuesday, May 10th, the Board of Supervisors gave its final approval for the FY 2023 budget (there were no changes since the approved budget markup on April 26th).

The final budget includes a three-cent reduction in the Real Estate Tax Rate, from $1.14 to $1.11 per $100 of assessed value. However, the average residential tax bill will increase by $465 (6.7%) due to the increase in residential real estate assessments (92% of Fairfax County residents saw their assessments go up!).

Note: the rate would have had to decrease to $1.0583 per $100 of assessed value to have kept real estate tax bills the same as the last year.

Click Here to see all the details on the FY 2023 budget.


If you have questions about your assessed value, the market value of your home or are thinking of buying or selling a home, give The Belt Team a call (703) 242-3975. We are happy to help you make the right move!

Fairfax County 2022 Real Estate Tax Assessments…Continued

Now that people in Fairfax County have been receiving their tax assessments, we’ve been getting questions about the increases, the proposed tax rate for FY 2023 and more. So, Terry Belt, CEO, and Patty Schuebel, COO, sat down to provide some answers. Watch below!

If you have more questions about your assessed value, the market value of your home or are thinking of buying or selling, give The Belt Team a call (703) 242-3975. We are happy to help you make the right move!

Be sure to follow our blog, as well as our pages on Facebook & Instagram and our YouTube channel, to get our updates on the real estate market, community happenings and much more!

Fairfax County 2022 Real Estate Tax Assessments Are Available!

No Change Proposed to Current Rate But Your Tax Bill Will Probably Increase

Those of you who live in Fairfax County should be receiving your real estate tax assessment shortly.

For a large number of you (92%!), the assessment went up (2.8% saw a decrease and 5.2% were unchanged). On average, residential real estate assessments are up 9.57%.

Note: the Board of Supervisors has not yet adopted the 2022 tax rate and will do so later this spring. On February 22nd the FY 2023 Budget was presented to the Board and included no change to the current Real Estate Tax Rate tax rate ($1.14 per $100 of assessed value). However, an equalization rate of 9.57% (the market-driven change in property value) would mean the average tax bill would increase by approximately $666 based on the proposal.

Assessments increased in most areas of the county due to record low interest rates, low housing inventory and high demand. (Other factors include sales in the neighborhood, average days on market, sales volume, improvements, new construction, and size, age and condition of the property.)

(If you do not receive your notice, you can check your Fairfax County assessment value online)


Here are some overall stats from Fairfax County:

Of the 356,967 taxable parcels in Fairfax County:

  • 334,334 have an assessment change
  • 22,633 have no assessment change

Here’s the breakdown of average home property assessment by property type (averages are not necessarily indicative of individual properties or neighborhoods):

  • Single family detached homes – $807,450, up 10.86%
  • Townhouse /duplex properties – $501,743, up 8.70%
  • Condominiums – $320,940, up 3.98%

Now. Truth be told – the assessments in Fairfax County are oftentimes LOWER than actual “market value” (meaning what a “willing Seller” and “willing Buyer” agree a property is worth by ratifying a contract to sell/buy that property.)

If you are thinking of buying a home in Fairfax County, don’t be deceived into thinking you will be able to buy a home for about what the County has assessed as the value of the property. We are often asked how a Seller could justify an asking price above the Fairfax County tax assessment.

Assessed value is just ONE factor to look at when buying or selling. A better place to start is with a FREE INSTANT online estimate. Then schedule an appointment with The Belt Team for a custom estimate.

If you think your assessment is wrong, Fairfax County does have an appeal process. You can file an online appeal prior to April 1st. More info here.

Also note that Seniors and People with Disabilities may be eligible for the county’s tax relief program. More info here.

If you have questions about your assessed value, the market value of your home or are thinking of buying or selling a home, give The Belt Team a call (703) 242-3975. We are happy to help you make the right move!

Fairfax County FY 2022 Budget – FINAL APPROVAL

On Tuesday, May 4th, the Board of Supervisors gave its final approval for the FY 2022 budget (there were no changes since the approved budget markup on April 27th).

As we reported in our blog post on February 25th, the final budget includes a one-cent reduction in the Real Estate Tax Rate, from $1.15 to $1.14 per $100 of assessed value. However, the average residential tax bill will increase by $224 due to the increase in residential real estate assessments (88% of Fairfax County residents saw their assessments go up!).

Click Here to see all the details on the FY 2022 budget.


If you have questions about your assessed value, the market value of your home or are thinking of buying or selling a home, give The Belt Team a call (703) 242-3975. We are happy to help you make the right move!

Fairfax County Real Estate Tax Assessments Have Been Mailed!

Those of you who live in Fairfax County should be receiving your real estate tax assessment shortly.

For a large number of you (88%!), the assessment went up. On average, residential real estate assessments are up an average of 4.25%.

Note: the Board of Supervisors has not yet adopted the 2021 tax rate and will do so later this spring. On February 23th the 2022 Budget was presented to the Board and included a one-cent reduction in the Real Estate Tax Rate, from $1.15 to $1.14 per $100 of assessed value. Therefore, considering equalization and the rate decrease, the average tax bill would increase by approximately $224 based on the proposal.

Assessments increased more from the previous year in part because most areas of the county saw property price increases because of things like low inventory and historically low interest rates.

(If you have not received your notice yet, you can check your Fairfax County assessment value online)


Here are some overall stats from Fairfax County:

Of the 356,171 taxable parcels in Fairfax County:

  • 326,263 have an assessment change
  • 29,908 have no assessment change

Here’s the breakdown of average home property assessment by property type (averages are not necessarily indicative of individual properties or neighborhoods):

  • Single family detached homes – $725,327, up 4.17%
  • Townhouse /duplex properties – $460,526, up 5.13%
  • Condominiums – $304,877, up 4.62%

Now. Truth be told – the assessments in Fairfax County are oftentimes LOWER than actual “market value” (meaning what a “willing Seller” and “willing Buyer” agree a property is worth by ratifying a contract to sell/buy that property.)

If you are thinking of buying a home in Fairfax County, don’t be deceived into thinking you will be able to buy a home for about what the County has assessed as the value of the property. We are often asked how a Seller could justify an asking price above the Fairfax County tax assessment.

Assessed value is just ONE factor to look at when buying or selling. A better place to start is with a FREE INSTANT online estimate. Then schedule an appointment with The Belt Team for a custom estimate.

If you think your assessment is wrong, Fairfax County does have an appeal process. You can file an online appeal prior to April 1st. More info here.

Also note that Seniors and People with Disabilities may be eligible for the county’s tax relief program. More info here.

If you have questions about your assessed value, the market value of your home or are thinking of buying or selling a home, give The Belt Team a call (703) 242-3975. We are happy to help you make the right move!

Update! Real Estate Property Tax to Remain Unchanged in Fairfax County

On May 12th, the Fairfax County Board of Supervisors approved the Fiscal Year 2021 budget.   They chose to keep spending levels the same as the FY 2020 budget because of the impact of the coronavirus pandemic. 

In April, a revised budget was proposed from the original presented in February (which included a 3% increase in Real Estate Tax rate) which took into consideration the effects of COVID-19 on the economy.  The FY 2021 budget approved this month has a Real Property Tax Rate of $1.15 per $100 of assessed value…the same rate in the FY 2020 Budget.  So, the current tax rate will also not change through the rest of this calendar year.

Click here to read the full FY 2021 Adopted Budget Package.

Current market conditions during COVID-19 are very similar to PRE-COVID-19…it still pays to be a seller, and buyers in many cases are still competing with multiple offer situations for homes priced correctly. But there remains opportunities for sellers AND purchasers given the historically low interest rates.

The Belt Team has been successfully and safely navigating the COVID-19 market for our buyer and seller clients this spring. So, if you need to sell your home, contact us NOW (703-242-3975) to help get your home ready and to make sure you don’t miss out on this market!  If you need to buy a new home, it is very important to work with an experienced agent who has adjusted to the COVID-19 situation and make your home buying dreams come true! 

Click here for an INSTANT online estimate of your home’s market value. Then give us a call at 703-242-3975 for a detailed, personalized review. We’re happy to assist will ALL of your real estate needs!

Fairfax County Real Estate Tax Assessments Have Been Mailed!

Those of you who live in Fairfax County should be receiving your real estate tax assessment shortly.

For a large number of you (78.8%!), the assessment went up. And, well, that will likely mean higher taxes this year. On average, residential real estate assessments are up an average of 2.65%.

Note: the Board of Supervisors has not yet adopted the 2020 tax rate and will do so later this spring. On February 25th the 2021 Budget was presented to the Board and it included a 3% increase in Real Estate Tax Rate. So it is possible that what you pay will increase because of an increased tax rate AND because your assessment increased.

Assessments increased more from the previous year in part because values increased more. While 2018 saw a 3.03% increase in median sold price in Fairfax County, 2019 was higher at 4.90%.

(If you have not received your notice yet, you can check your Fairfax County assessment value online)


Here are some overall stats from Fairfax County:

Of the 355,404 taxable parcels in Fairfax County:

  • 303,680 have an assessment change
  • 51,724 have no assessment change

Here’s the breakdown of average home property assessment by property type (averages are not necessarily indicative of individual properties or neighborhoods):

  • Single family-detached homes – $692,409, up 2.36%
  • Townhouse/duplex properties – $437,346, up 3.43%
  • Condominiums – $288,246, up 4.36%

Now. Truth be told – the assessments in Fairfax County are oftentimes LOWER than actual “market value” (meaning what a “willing Seller” and “willing Buyer” agree a property is worth by ratifying a contract to sell/buy that property.)

If you are thinking of buying a home in Fairfax County, don’t be deceived into thinking you will be able to buy a home for about what the County has assessed as the value of the property. We are often asked how a Seller could justify an asking price above the Fairfax County tax assessment.

Assessed value is just ONE factor to look at when buying or selling. A better place to start is with a FREE INSTANT online estimate. Then schedule an appointment with The Belt Team for a custom estimate.

If you think your assessment is wrong, Fairfax County does have an appeal process. You can file an online appeal prior to May 1st. More info here.

Also note that Seniors and People with Disabilities may be eligible for the county’s tax relief program. More info here.

If you have questions about your assessed value, the market value of your home or are thinking of buying or selling a home, give The Belt Team a call (703) 242-3975. We are happy to help you make the right move!

Fairfax County Real Estate Tax Assessments Have Been Mailed!

Those of you who live in Fairfax County should have recently received your real estate tax assessment.

For a large number of you (76%!), the assessment went up. And, well, that will likely mean higher taxes this year (the Board of Supervisors will set the 2019 tax rate later this spring, but if the past predicts the future, what you pay will increase either because of an increased tax rate or because your assessment increased). On average, assessments are up 3.6%.

However, the assessments did not rise as much as the previous year in part because values did not rise as much. While 2017 saw a 4.21% increase in median sold price in Fairfax County, 2018 was slightly lower at 3.03%.

(If you have not received your notice yet, you can check your Fairfax County assessment value online)


Here are some overall stats from Fairfax County:

Of the 354,695 taxable parcels in Fairfax County:

  • 294,520 have an assessment change
  • 60,175 have no assessment change

Here’s the breakdown of average home property assessment by property type (averages are not necessarily indicative of individual properties or neighborhoods):

  • Single family-detached homes – $673,407, up 2.17%
  • Townhouse/duplex properties – $422,490, up 3.12%
  • Condominiums – $272,914, up 2.98%

Now. Truth be told – the assessments in Fairfax County are oftentimes LOWER than actual “market value” (meaning what a “willing Seller” and “willing Buyer” agree a property is worth by ratifying a contract to sell/buy that property.)

If you are thinking of buying a home in Fairfax County, don’t be deceived into thinking you will be able to buy a home for about what the County has assessed as the value of the property. We are often asked how a Seller could justify an asking price above the Fairfax County tax assessment.

Assessed value is just ONE factor to look at when buying or selling. A better place to start is with a FREE INSTANT online estimate. Then schedule an appointment with The Belt Team for a custom estimate.

If you think your assessment is wrong, Fairfax County does have an appeal process. You can file an online appeal prior to April 3rd. More info here.

Also note that Seniors and People with Disabilities may be eligible for the county’s tax relief program. More info here.

If you have questions about your assessed value, the market value of your home or are thinking of buying or selling a home, give The Belt Team a call (703) 242-3975. We are happy to help you make the right move!