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.
Additional changes in taxes are also being proposed by the Board of Supervisors. Click here to see the table of proposed taxes for 2014.
Virginia General Assembly has passed a bill to increase the Grantor's Tax paid by Sellers.