Fairfax County residents could see their property taxes increase by $666 on average, based on a proposed $4.85 billion budget presented by Fairfax County Executive Bryan Hill this week, subject to adoption by the Fairfax County Board of Supervisors.
Covering fiscal year 2023, which starts July 1, the nearly $4.8 billion spending plan maintains the current tax rate of $1.14 per $100 of assessed value, but it comes amid what Fairfax County Board of Supervisors Chairman Jeff McKay called “sky high” residential property assessments.
The proposed budget comes in the context of improving economic conditions that have seen nearly 55,000 more jobs in the county than the year before and an unemployment rate that has dropped to 2.2 percent. The budget includes a 4 percent raise for county employees.
The plan reflects similar budget proposals that have surfaced in Arlington and Alexandria, where the push has been on reversing years of spending cuts while freezing tax rates.