Springtime is budget season across Northern Virginia. Along with the funding public services, schools and economic development, this is also the process by which local real estate taxes are set for the coming fiscal year. While government resources are spread thin due to the ongoing impacts of the Covid-19 pandemic, local governments throughout the region voted to either lower or freeze real estate tax rates – the primary revenue source available to localities in the Commonwealth.
These decisions were prompted by the thousands of individuals who remain unemployed and are struggling to meet basic needs. But also because the robust real estate market continues to fuel increased assessed values for homes across all jurisdictions. Homeowners should still expect to see property tax bills increase, but the annual tradition of local governments raising revenue through increasing the tax rate was put on hold while the focus shifts to investing in social services and programs geared toward economic stability.
Find the tax rates for each Northern Virginia jurisdiction below or at NVAR.com.
The City of Alexandria reduced its real estate tax rate by 2 cents to $1.11 per $100 of assessed value.
The Arlington County real estate tax rate will stay the same at $1.013 per $100 of assessed property value.
In Fairfax County, the rate decreased by 1 cent to $1.14 per $100 of assessed value.
The adopted FY22 real estate tax rate for Fairfax City is unchanged from the FY21 amount of $1.075 per $100 of assessed value.
The Falls Church City Council set the estate tax rate at $1.320 per each $100 of assessed value, a decrease of 3.5 cents from the previous rate of $1.355.
The Herndon Town Council voted unanimously to maintain flat tax rates across the board, which keeps the real estate tax rate at 26.5 cents per $100 of assessed value. (Plus the Fairfax County Tax Rate)
Loudoun County lowered its rate by 5 ½ cents, to $0.98 per $100 of assessed value.
Prince William County
Prince William County officials shaved a penny from their tax rate, now at $1.115 per $100 of assessed value.
The reduction of the real estate tax rate was the first since 2013 in the Town of Vienna. The rate in the new fiscal year as of July 1, 2021 will be 22.25 cents per $100 of assessed value, down from 22.5 cents per $100 of assessed value. (Plus the Fairfax County Tax Rate)