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Fairfax County: Average Reston Home Value Up 1.03 Percent

by Karen Goff — February 22, 2016 at 2:45 pm 10 Comments

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.

  • SouthRestonResident

    Meanwhile the majority of properties in South Reston stayed flat. At least I don’t have a tax hike this year

    • Ming the Merciless

      You’ll always have the (admittedly non-financial) enrichment provided by glorious, vibrant diversity.

  • Chuck Morningwood

    Given all of the recent drama, I wonder whether the Shadowood properties experienced an increase in their valuations.

    • Greg

      No — they were among the 13 percent of county homes whose values declined. Imagine that!

  • Nyla J.

    My assessment was flat and my neighbors keep selling at ridiculously low prices because they were all original owners buying in back in the late 70s, never making a single upgrade. They could care less about screwing over the rest of us. Reston.

    • Why do you bother?

      Not everyone can afford to upgrade – jobs come and go, health may decline, etc.

      • Nyla J.

        In 45 years? Should have sold a decade ago.

        • Why do you bother?

          Ok. Then where would they go? If their property value has been stagnant due to no updating, what can they afford? The rest of the world’s prices have shot up in that time, and they won’t get much out of the current house.

          It’s easy to judge someone when you have no clue about what they’re up against, is it?

          • Nyla J.

            South. Move south. Woodbridge. Stafford. Dale City.

  • LakeNewportLady

    Ours went up $160K …ummm what?!? Do they just figure out how much tax they want and back into everyone’s home value?

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