The Northern Virginia Association of Realtors, in partnership with George Mason University, regularly publishes reports on home sales activity in Fairfax, Arlington, and Arlington counties. These reports are released monthly and include market statistics and an infographic or video. To learn more about home sales in Fairfax County, available at Del Aria Team`s website.
Fairfax County is a tech hub on the East Coast
Fairfax County is home to some of the most innovative technology companies in the country. The county's economy is centered on the technology sector, and it makes up 40% of Virginia's total GDP. Over eight hundred companies are involved in information technology, most of which are in the B2B and B2G sectors. The area is also home to a number of academic institutions that contribute to the region's technology ecosystem.
The area is also home to a diverse population, with a quarter of the region's foreign-born population. Over 40 percent of the population is college-educated. Still, the area is faced with some new challenges. While the number of college graduates has increased in recent years, it has also added new types of jobs, such as low-skilled service workers. Many of these workers are recent immigrants with young families.
Appian is one such company. The Seattle-based company is planning to expand to a Reston office to increase its reach. Microsoft has also announced plans to build a $64 million software hub in Reston. Other companies that have expanded their operations in the region include Adobe, Qualtrics, and Nutanix.
Space exploration is another area of development, with the federal government exploring the possibility of working with private tech companies. Fairfax County is home to seven Fortune 500 companies in the aerospace and defense sector. Boeing's space division headquarters is located in Arlington, and Northrop Grumman, which built the lunar lander for the Apollo moon missions, is also based in Fairfax County.
Property tax bills are poised to go up
Property tax bills in Fairfax County are set to increase by 6.7% next year. That's because the county's Board of Supervisors approved a plan to increase the tax rate by a penny per $100 of assessed value in the 2023 budget. The plan also includes relief for personal property taxes on vehicles. However, property owners could still see higher taxes in 2022.
Fairfax County property taxes pay for county services. The county board sets property tax rates in May. Taxes are collected in two equal installments each July 28 and December 5. If the due date falls on a holiday or weekend, the payment is automatically moved to the following business day. You can also pay your taxes online using the county's website.
The county's proposed budget also includes an increase in base charges and sewer service. However, it also includes a proposal for a higher compensation for county employees. The county is hoping this will improve employee retention. The county is also planning to increase funding for parks, nonprofits, and the arts.
The tax levy that appears on the assessment notice is an estimate. It is based on the property's current assessment and the county's 2021 tax rates. However, the board of supervisors has not yet approved the tax rates for 2022.
Residents can hide their names from tax records
Fairfax County maintains a database of property ownership data and uses it to calculate real estate taxes. Each year, real estate properties are assessed at fair market value and the Board of Supervisors decides on the tax rate. Property owners are responsible for paying real estate taxes in two installments.
The tax records of property owners in Fairfax realtors include the name of the owner of the property. This information is made public by Virginia state law. However, Fairfax County has a system where residents can hide their names. If you want to hide your name from tax records, follow these steps.
Descano's policies are not popular with local police. Police and the criminal defense bar don't trust him and his policies have led to a rift between him and the police. Ultimately, if Descano's policies are implemented, crime rates will likely increase in Fairfax County.
If you're concerned about your property taxes, the Fairfax County Department of Tax Administration's Real Estate Division is often the first place to look for property owner information.
The department's online portal contains several useful functions, including the ability to change mailing addresses, pay taxes, and check your real estate assessment. The Real Estate Assessment site also contains a list of the physical characteristics and appraised values of all the properties in the county.