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).
Recent Stories
8220 Crestwood Heights Drive (image via Google Maps) Fairfax County Fire and Rescue responded to a fire at a high-rise on the 8200 block of Crestwood Heights Drive in Tysons…
Cat (staff photo by Vernon Miles) Cat declawing to be banned in Virginia — “Veterinarians will not be allowed to declaw cats in Virginia starting in July, unless there are certain…
The Knutson Companies is thrilled to announce new opportunities for Loudoun County living with the release of a new section of rooftop terrace townhomes and a brand new community of…
Falls Church High School entrance (staff photo by Angela Woolsey) Fairfax Schools could lose millions under proposed Youngkin budget amendments — “Fairfax County Public Schools would lose over $6 million in…
