The Fairfax County Board of Supervisors has signed off on a 3-cent bump in its real estate tax rate, a move it said was partly forced by insufficient state funding.
The board approved the new rate yesterday (Tuesday) as part of a mark-up session on the fiscal year 2025 budget, which will be formally adopted next Tuesday, May 7. The 3-cent hike is expected to generate about $97 million in additional revenue for the county — about $32.3 million less compared to the 4-cent increase initially proposed.