Fairfax County, VA — Property Tax Underwriting Guide
Virginia · Annual market review
What this means for multifamily underwriting
Fairfax County is the largest Virginia jurisdiction and a major DC-metro multifamily market. Effective rates are relatively low and predictable. Multifamily demand is anchored by federal government employment.
Transaction type breakdown
Fairfax County assesses annually at 100% of fair market value. Sale prices are used as primary market evidence; the assessor commonly updates assessed values toward the sale price in the following assessment cycle.
Refinance does not affect assessed value.
Ownership transfer is market evidence; assessed value commonly moves toward the sale price at the next annual review.
Tax appeal information
10.5 mill (1.05% effective) is the approximate combined Fairfax County rate. Virginia does not have separate school district bills — the county rate is the all-in rate.
Guide review
County guidance last reviewed: June 15, 2026
Tax-rate scope: Tax-rate scope is not established as parcel-specific; confirm the parcel's taxing-authority stack.
Official sources: Fairfax County Assessments
Annual-market model and rate are well documented.
Parclio estimates are underwriting guidance, not legal or tax advice. Always verify millage rates, the seller's assessed value, and appeal deadlines with the county assessor or local counsel before relying on these numbers for a credit decision.
Run a tax reset estimate for Fairfax County
Use Parclio's estimator to model the post-closing tax bill, NOI impact, DSCR change, and underwriting memo language for your next Fairfax County deal.