You’ve got mail, Fairfax County. More than 354,000 updated 2019 real estate assessments are being mailed to property owners and are available online.
Countywide, assessments for residential real estate are up an average of 2.36 percent, with the average home assessed at $562,601. Last year, the average was $549,630. The assessments are based on what the county calls “equalization changes,” meaning market-driven value increases or declines.
As usual, most assessments — about 75.6 percent — went up this year, by an average of 2.36 percent. Nonresidential real estate values (commercial, industrial and rental apartments) increased 2.71 percent on average.
Of the 354,695 taxable parcels in Fairfax County, 294,520 have an assessment change while 60,175 have no assessment change.
The breakdown of average home property assessments:
Countywide average for all homes – $562,601, up 2.36%
Single family detached homes – $673,407, up 2.17 percent
Townhouse/duplex properties – $422,490, up 3.12 percent
Condominiums – $272,914, up 2.98 percent
The real estate assessment notice is not a bill. Most homeowners pay real estate tax as part of a monthly mortgage payment. Your mortgage company then sends the taxes directly to the county. However, some homeowners, including those without a mortgage, pay their real estate taxes directly (due July 28 and Dec. 5). Contact your mortgage company if you are not sure how your taxes are paid.