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Afternoon Poll: How Much Did Your Real Estate Tax Assessment Rise?

by Karen Goff March 4, 2014 at 3:40 pm 6 Comments

Gate Hill PlaceDid you get sticker shock when you opened your 2014 Fairfax County Real Estate Tax Assessment?

Many county residents did. Fairfax County said some 88 percent of residential properties saw an increase from 2013 to 2103. The average increase, was about 6.5 percent, according to county data. About 9 percent of county homeowners saw no change.

In Reston, some homeowners saw a much bigger jump, leading some Realtors to say, anecdotally, that the increase in value expected with the opening of Metro’s Silver Line later this year is already happening.

That is good news if one is trying to sell, but bad news for one’s wallet if staying.

Want to appeal your assessment. Visit the Fairfax County Department of Taxation website.

More from Fairfax County:

During 2013 the residential market continued to improve in Fairfax County. This market improvement has meant fewer foreclosures, faster sales and price appreciation in most neighborhoods.

The number of days a property was listed for sale decreased from an average of 50 days in 2012, to an average of 36 days in 2013, or an improvement of 28 percent (44 percent of these properties actually sold in 10 days or less).

Sale prices also were closer to their list price than last year, selling on average at about 98% of their list price, providing another indication of the strong residential market.

Residential sales volume in the county increased over 10 percent from 2012 sales, providing staff with more than 14,000 fair market sales to analyze in determining 2014 assessments.

While foreclosures generally have a dampening effect on competitive sale prices, their influence has had much less impact on 2014 assessments due to the decline in foreclosure activity.

 

  • Bethany

    Mine went up $100,000. I can’t believe it would rise that much in a year…

    • Addy V

      Mine went up $100,000 too. This is ridiculous. If land value went up, I would have said maybe. But, almost all of it went towards an increase in building value. Really?

  • Rational Reston

    Can’t wait for Supervisor Hudgins to find an outlet to say how much she ‘saved’ us all while our actual tax bills go up again.

  • FairfaxTaxpayer

    Assessment up $37k in Chantilly, $26k increase in building value in one year. Really? I could understand the land value going up as the real estate market recovers, but an 11.4% increase in building value is just nonsense.

    • Mike M

      Realty recovers? I have news for you. The federal budget is going to get smaller and that will bring the recession to the DC area that we have avoided to date. The market is stressed and the county is gold plated. They don’t quite get that the federal spending party that made them look so slick is coming to an end. Spending needs to come down. Taxes will have to

  • Mike M

    Mine went down and I have no idea why. But I encourage all Restonians to STOP zombying into the polls every two years and pulling the lever for candidates because they have a D next to their name. The problem is that our elected officials are simply not being held accountable. Vote Ms Bulova and Hudgins OUT! This is their mess. Hold your nose and vote for a Republican or Independent, At this level of government, it doesn’t really matter, and I’d say these two behave like stereotypical Republicans anyway except for their verbalized causes. Pay attention to what they do. Don’t worry. You can always vote out the Republican in two years. The message will be sent. If you keep sending the same spendomaniacs back, don’t expect change, and don’t complain.

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