Taxpayers Guide to Your Real Estate Assessment

Almost 64% of Fairfax County's  residential properties increased in assessed value and another 22% had no change for 2011, according to the  352,143 assessment notices Fairfax County mailed to taxpayers in the last few weeks.

Overall  residential properties rose 2.34%.  Commercial properties rose 3.73% after an 18 percent drop last year.  The commercial increase is primarily the result of value increases in multi-family apartments of 14.54%; hotels of 11.35% and office buildings of 1.88%, according to the county.

The taxes paid by county homeowners based on these assessments finance 75 percent of the county's proposed $6 billion budget. Commercial real estate taxes make up the rest.

These increased values will give county coffers $103 million more in tax revenue this year even as the tax rate remains unchanged at $1.09 per $100 of assessed value.* This also probably means more money for the McLean Community Center which already has a $12 million surplus. The center is financed through a special tax levied on McLean taxpayers.

How is the current real estate market reflected in my assessment?

During 2010 the residential market continued to improve in Fairfax County. This market improvement has meant fewer foreclosures, faster sales and price appreciation in many neighborhoods.

As of January 1, 2011, the real estate market change during 2010 has resulted in an overall increase in residential property assessments totaling 2.34%.

What are the differences between sales prices, appraisals, and assessments?

Sale price is the actual price a buyer pays for a particular property. An appraisal is a detailed single property valuation, and may be obtained any time throughout the year. Appraisals can have a variety of purposes, e.g. mortgage loan, sale, home equity loan, and estate valuations.

An assessment is a mass appraisal of property as of January 1 each year for tax purposes. Assessments are based on large numbers of sales that are analyzed to determine values for large groups of similar properties.

What is the current tax rate?

The base real estate tax rate for 2010 (FY 2011) has been set at $1.09 per $100 of assessed value. See our Real Estate - Tax Rates and Fees page for the proposed 2011 (FY2012) rates and more information about other tax district rates and service charges that may be applicable in certain districts.

*How do I calculate by real estate taxes?

The base real estate tax rate is $1.09 per $100 of assessed value. To compute the real estate tax on a property assessed at $400,000, divide the assessed value by 100 and multiply by the tax rate: ($400,000 ÷ 100) x $1.09 = $4,360.

Where can I find more information about my assessment or speak with someone about my assessment?

• Telephone: Call the Central Information Team (CIT) Monday through Friday from 8:00 a.m. to 4:30 p.m. at 703-222-8234, [TTY: 703-222-7594]. You may request to speak with an appraiser.

• E-mail: Specific questions or requests for more information may be requested using email. Please include a telephone number where you can be reached during the day.
• Automated Information System: Call 703-222-6740 Monday through Saturday from 7:00 a.m. to 7:00 p.m. to hear recorded property descriptions, assessed values, and sales prices. You may also use this number to receive a faxed report for up to five properties per call.

McLean's values compared to some of our neighbors:

If citizens believe their assessment is not equitable in comparison with similar properties or if they believe their assessment exceeds fair market value, they can appeal.  Appeals may be made in writing to the Real Estate Division of Department of Tax Administration.  Citizens may appeal their residential assessment online.  The tax folks  request that appeal applications be filed by April 8, 2011.