Proposed Real Estate Tax Increase
According to their website, the Fairfax County Board of Supervisors has authorized advertisement of a real estate tax rate for FY 2014 of $1.095 per $100 of assessed value. The current FY 2013 rate is $1.075. Advertising an increase in the rate does not prevent the board from lowering any advertised tax rate, but a higher tax rate cannot be imposed without advertising the higher rate. Each one cent increase in the real estate tax rate impacts the average residential taxpayer’s annual bill by approximately $47.00. Click here for the link to the Fairfax County site to learn about public hearings, town hall meetings, and online options.
Virginia General Assembly has passed a bill to increase the Grantor's Tax paid by Sellers.