Fairfax County Personal Property Tax
If you own any tangible personal property in the city of Fairfax, you may be subject to a local personal property (LPP) tax. This includes items like equipment, computers, furniture, and vehicles.
Fairfax County personal property tax is a recurrent tax that is based on the value of your personal property. The county uses the revenue to pay for local projects and services. The money is usually used to pay for public transport, infrastructure, and municipal government projects. The proceeds from the tax are usually used locally and do not go to the state or federal budgets. The current tax rate for most personal property in Fairfax County is $4.57 for each $100 of assessed value.
A personal property tax is levied on all motor vehicles owned by individuals or business entities that are legally garaged, stored, or parked in the City of Fairfax. The amount of the tax is determined by multiplying the vehicle’s assessed value by the city’s property tax rate. The city offers several exemptions for residents and businesses, including tax relief for disabled veterans.
The county has a system of homestead exemptions that can reduce the appraised valuation of a homeowner’s primary residence before calculating the tax owed. These exemptions are available to homeowners who meet certain income and asset eligibility requirements. Those who wish to take advantage of this exemption should visit the local tax assessor’s office and apply.
Fairfax County Personal Property Tax Lookup
Property taxes are levied on a property’s assessed fair market value. Several tax relief programs can lower the amount you pay. You can find out how much your property tax is by using the county’s online search tool. The website also includes maps and other helpful information.
You can also find out about your property taxes by visiting the county’s assessment and tax administration department. The department’s data can be used to compare property tax rates and values across the country. It can also be used to analyze trends in home prices, property tax revenue and homeownership rates.
Local assessors reassess properties in cycles of two to six years. The reassessment process is required by state law. The county uses a statistical median to determine its property tax rate, which is then multiplied by the assessed fair market value.
Personal property tax bills are mailed late summer and are due by October 5. If you move into or out of the county during the year, your bill will be prorated.
