Fairfax City property tax

Example of Fairfax City Property Tax Calculation

Fairfax City calculates property tax based on the assessed value of a property. The assessed value is determined by the city's assessor's office and is typically a percentage of the property's fair market value. For example, if a property has a fair market value of $300,000 and the assessment rate is 90%, the assessed value would be $270,000.

Once the assessed value is determined, the city applies a tax rate to calculate the property tax. For the fiscal year 2021, the tax rate for Fairfax City is $1.065 per $100 of assessed value. Using the example above, the property tax for a property with an assessed value of $270,000 would be $2,873.50 ($270,000 / 100 x $1.065).

It is important to note that property tax rates and assessment rates can vary depending on the city, county, or state. Property owners can contact their local assessor's office or city government for more information about property tax calculation in their area.

If you want appeal your property tax assessment - contact your local tax assessor.

Fairfax City Property Tax Rates

The Fairfax City Property Tax rates for the year 2021 are as follows:

It is important to note that these rates may change annually and can vary depending on the specific property being assessed. Property owners in Fairfax City are responsible for paying their property taxes on time to avoid penalties and interest charges.

Who sets property tax rates in Fairfax City ?

Who sets property tax rates in Fairfax City? The property tax rates in Fairfax City are set by the Fairfax City Council.

When are property tax rates set in Fairfax City? The property tax rates in Fairfax City are typically set annually during the budget approval process, which occurs between February and May each year. The rates are based on the assessed value of the property and are used to fund local government services such as schools, public safety, and maintenance of public facilities. It is important for property owners to stay informed about any changes to the tax rates in order to plan their finances accordingly.

Homestead exemptions in Fairfax City ?

To provide a comprehensive guide for homeowners in Fairfax City, Virginia, the following table outlines all county-specific Homestead exemptions and deductions available in the area.

It's important to note that eligibility requirements and exemption amounts may vary by county, and homeowners should check with their local government to confirm their eligibility and the exemption amount they may receive. By taking advantage of these Homestead exemptions and deductions, homeowners in Fairfax City, Virginia, can reduce their tax burden and save money on their property taxes.

When is Fairfax City Property Tax due ?

Fairfax City Property Tax Due Date and Payment Methods

Fairfax City requires its residents to pay property taxes on an annual basis. These taxes are used to fund public services such as schools, public safety, and infrastructure.

The due date for Fairfax City Property Tax is typically on December 5th of each year. It is important to note that the tax bills are mailed out in late October or early November, giving taxpayers enough time to plan their payments.

There are various payment methods available for Fairfax City Property Tax. Taxpayers can pay via:

• Online Payment: One can pay his/her property taxes online by visiting the Fairfax City website and clicking on the "Online Property Tax Payment" link. One can pay using a checking account or credit/debit card.

• Mail Payment: Taxpayers can send a check or money order by mail to the address mentioned on the tax bill. The payment must be postmarked on or before December 5th.

• In-person: One can also pay in person by visiting the Fairfax City Treasurer's Office during business hours. The address is mentioned on the tax bill.

• Drop Box: The City also has a drop box located outside the City Hall. Taxpayers can drop their check or money order along with the payment stub in the box 24/7.

It is important to note that if one fails to pay the property taxes on time, there will be a penalty and interest added to the amount due. Therefore, it is recommended to pay on or before the due date to avoid any additional charges.

In conclusion, Fairfax City Property Tax is due on December 5th every year, and there are several payment methods available, including online payment, mail payment, in-person, and drop box.

If you have more questions - contact your local tax collector.

How is Fairfax City Property Tax penalty calculated ?

Fairfax City calculates property tax penalties based on the amount of unpaid taxes and the number of days past the due date. The penalty rate is 10% of the unpaid taxes plus interest, which accrues at a rate of 10% per annum.

For example, if a homeowner in Fairfax City owes $1,000 in property taxes and pays 30 days late, they would incur a penalty of $100 plus $2.74 in interest ($1,000 x 10% penalty rate x 30/365 days = $8.22/ 12 months = $0.68 monthly interest x 4 months late = $2.74). Therefore, the total amount due would be $1,102.74 ($1,000 + $100 penalty + $2.74 interest).

To avoid penalties, it is important for homeowners to pay their property taxes on time. Fairfax City sends out tax bills in late May or early June, and taxes are due on June 30th. Homeowners can pay their taxes online, by mail, or in-person at the City Hall.

Below is a table summarizing the penalty calculation for late property tax payments in Fairfax City:

It is important to note that penalties can add up quickly, so it is best to pay property taxes on time to avoid additional fees.

We recommend contacting the Fairfax City Tax Office or a local tax professional for the most up-to-date and accurate information.

Fairfax City tax offices:

• Fairfax City tax assessor
• Fairfax City tax collector
• Fairfax City tax commissioner
• Fairfax City tax appraiser
• Fairfax City tag office