Fairfax County is one of the most populous and prosperous localities in the United States. The county contains a number of cities and towns, including the City of Fairfax, Alexandria and McLean. Homeowners in Fairfax County are responsible for paying real estate taxes each year.
Types of Real Estate Tax
Fairfax County real estate taxes are divided into two distinct types:
- Personal Property Tax – This tax is assessed each year on tangible personal property, such as large appliances, furniture, recreational vehicles and boats.
- Real Property Tax – The real property tax is assessed on real estate, such as a house, and is based on the assessed value of the property.
Tax rates on real property in Fairfax County are set by local government officials and depend on a variety of factors, such as the assessed value of the property, the local unemployment rate and the size of the local budget. The Fairfax County Tax Office publishes current tax rates for the county, which can be found online.
Fairfax County bills for real estate taxes are sent out twice a year, in June and December. The payments are based on the taxable assessed value of the property and the applicable tax rate. Property owners can also set up payment plans with the Tax Office to make payments throughout the year.
There are a number of exemptions available to property owners in Fairfax County, including homestead exemptions, elderly and disabled exemptions and veterans’ exemptions. These exemptions can reduce the amount of tax owed each year, so it is important for property owners to be aware of them and take advantage of them if they are eligible.
Real estate taxes are an important part of home ownership in Fairfax County. Homeowners should understand their tax obligations and be aware of all of the exemptions that may be available to them. It’s also important to stay up-to-date on the current tax rates in the county. By doing so, homeowners can ensure that they pay the appropriate amount of real estate tax each year.