Residents who plan to substantially upgrade their older residences may be eligible for a partial real estate tax exemption, the City said recently.
The exemption amount is based on the increased value of a single-family home or a duplex built at least 15 years ago that has been substantially rehabilitated, renovated or replaced.
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Exemptions are given for a 10-year period.
Improvements must increase the assessed value by at least 15 percent.
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The homeowner must obtain appropriate building permits and inspections during the home improvement process.
Interested applicants must apply for the exemption before any construction begins.
For more information, call 703-385-7840.
- By the City of Fairfax
What do you think of this program, particularly in light of next year's higher real estate tax rate? Tell us in the comments.
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