Fairfax County General :
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Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Bulova Byline - discrepancies abound...
Posted by:
ecdysis
()
Date: March 09, 2016 05:37PM
From March (2016) Bulova Byline:
“The value of the average home is less today than it was seven years ago. Adjusted for inflation, real estate taxes per a "typical" household is $69.67 less than in FY 2009, an average annual decrease of 0.2 percent.”
2009 data from FY 2009 Adopted Budget Facts (http://www.fairfaxcounty.gov/dmb/adopted/fy2009/fy09_adopted_budget_facts.htm)
2017 data from the County Executives’ FY 2017 Advertised Budget Plan page 7 (http://www.fairfaxcounty.gov/dmb/fy2017/advertised/overview/07_executive_summary.pdf)
Average Residential Assessed Property Value
2009 $524,076 2017 $527,648
Average Residential Real Estate Tax Bill
2009 $4,821.50 at the $0.92 per $100 assessed tax value
2017 $5,962.42 at the $1.13 per $100 assessed tax value
difference $1,140.92 23.9% - an average annual increase of 2.7%
N.B. inflation from 2009 – 2016 was approximately 10% or 1.2% p.a. on avg. FY09-FY17
(per Bureau of Labor Statistics CPI calculator: http://data.bls.gov/cgi-bin/cpicalc.pl?cost1=3.32&year1=2008&year2=2016)
Property Taxes collected by FFX County increased from FY09 $2,185M to FY17 $2,600M an increase of 19% or 2.2% average annual increase – approximately twice the rate of inflation
From FY09 to FY17 total County Revenue All Funds increased by 12.7% (adj for inflation)
Total County population increased by less than 7%
“The value of the average home is less today than it was seven years ago. Adjusted for inflation, real estate taxes per a "typical" household is $69.67 less than in FY 2009, an average annual decrease of 0.2 percent.”
2009 data from FY 2009 Adopted Budget Facts (http://www.fairfaxcounty.gov/dmb/adopted/fy2009/fy09_adopted_budget_facts.htm)
2017 data from the County Executives’ FY 2017 Advertised Budget Plan page 7 (http://www.fairfaxcounty.gov/dmb/fy2017/advertised/overview/07_executive_summary.pdf)
Average Residential Assessed Property Value
2009 $524,076 2017 $527,648
Average Residential Real Estate Tax Bill
2009 $4,821.50 at the $0.92 per $100 assessed tax value
2017 $5,962.42 at the $1.13 per $100 assessed tax value
difference $1,140.92 23.9% - an average annual increase of 2.7%
N.B. inflation from 2009 – 2016 was approximately 10% or 1.2% p.a. on avg. FY09-FY17
(per Bureau of Labor Statistics CPI calculator: http://data.bls.gov/cgi-bin/cpicalc.pl?cost1=3.32&year1=2008&year2=2016)
Property Taxes collected by FFX County increased from FY09 $2,185M to FY17 $2,600M an increase of 19% or 2.2% average annual increase – approximately twice the rate of inflation
From FY09 to FY17 total County Revenue All Funds increased by 12.7% (adj for inflation)
Total County population increased by less than 7%