Newsletter

As residential property taxes rise, Fairfax County’s commercial base shrinks

While many Fairfax County homeowners are bracing for jumps in their real estate tax assessments, the overall property tax burden on commercial and industrial property owners is projected to drop.

With the market upended by the pandemic, telecommuting, and other factors, the county’s property tax revenue for commercial and industrial properties will decrease by $8 million for fiscal year 2023, which starts July 1.

Meanwhile, the residential property tax base will increase by $155 million after a surge in housing demand fueled rising assessments. Bills are expected to increase even with the Board of Supervisors planning to reduce the tax rate when it adopts a new budget on Tuesday (May 10).

Read more…

Recent Stories

The National Weather Service has issued a Severe Thunderstorm Watch in Fairfax County. The watch went into effect at 3:07 p.m. and is expected to last until 7 p.m. this…

Independence Day weekend is almost here. Before you prepare for the oncoming barrage of fireworks or head to bed for some much-needed sleep, let’s revisit the past week of news…

While it won’t be quiet around Fairfax County on Monday with Fourth of July celebrations, many government offices and facilities will be closed. Government offices, and some businesses, are closed…

Two D.C. residents have been arrested and charged with armed robbery after allegedly driving a man around and robbing him at gunpoint on April 9, the Town of Vienna Police…

×

Subscribe to our mailing list