Fairfax County: Average Reston Home Value Up 1.03 Percent

Old BayberryThe average Reston assessed home value rose 1.03 percent in the last year, according to 2016 Fairfax County tax assessments.

The average Reston home is valued at $428,378 this year, a rise from $424,021 in 2015.

Here’s a look at some nearby areas: Great Falls, +0.72 percent, Oakton + 1.19 percent, Herndon, +.60 percent, and Vienna, +1.85 percent.

County real estate tax assessments were mailed last week. You can also access yours online.

Fairfax County says about 55 percent of residential property in the county increased in value over the past year due to equalization, with an average increase of 1.64 percent. Nonresidential real estate values (such as commercial) increased 2.87 percent on average due to equalization, the county says.

Assessed value is for tax purposes and is not the same as a listing or sales price if you were to put your house on the market.

Here’s what affects your real estate assessment, according to the county:

  • Sales in the neighborhood
  • Economic factors – It took an average of 55 days to sell a home in 2015, up from an average of 47 days in 2014
  • Improvements to the property (remodeling, additions)
  • New construction and rezoning
  • Property characteristics (such as size, age and amenities)

You can appeal your assessment. Find out how on Fairfax County’s website.

Meanwhile, the county is considering a 4-cent real estate tax hike for Fiscal Year 2017.

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