Under the Fairfax County executive’s budget proposal, the property tax rate would go up for the first time in six years, raising annual bills by hundreds of dollars on average when coupled with increased real estate assessments for 2024.
County Executive Bryan Hill is proposing a 4-cent increase to the residential tax rate, moving it up to $1.135 per $100 of assessed value. In addition, the county announced Tuesday that residential real estate assessments are up an average of 2.86%.
That means if the Board of Supervisors approves Hill’s increase, annual property tax bills would go up by an average of more than $524 per property.
The county cut the property tax rate last year, but bills on the whole still increased on average due to a steep rise in property values.
“I recognize that this would be the first real estate rate increase in six years, and it was not a conclusion that I reached easily,” Hill said. “I am proposing only those adjustments which I feel are essential to maintain the quality workforce and dependable services upon which our residents rely.”
The additional tax revenue generated by this year’s proposed rate increase would be used partly to address a funding increase request from Fairfax County Public Schools, which is asking for about $250 million more than it got in FY2024.
The proposed budget includes $165 million more for the school system, and the county said meeting the full request would require an additional 3 cents on the tax rate.
After schools, the largest funding category is compensation for county employees, with a $148 million proposed increase compared to FY2024. The increase covers a 2% pay raise, and the county said it would take another penny increase to the tax rate to cover the calculated FY2025 market rate adjustment of 4.1%.
The budget proposal also includes pay hikes for firefighters and police, plus more funding for Metro.
The Board of Supervisors and county school board will meet on Feb. 27 to go over the budget and tax rate. Adoption of a 2025 budget is set for May 7.
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