• Assessment Increase: Total assessed value of real property, excluding additional assessments due to new construction or improvements to property, exceeds last year’s total assessed value of real property by 24.2 percent.
• Lowered Rate Necessary to Offset Increased Assessment: The tax rate which would levy the same amount of real estate tax as last year, when multiplied by the new total assessed value of real estate with the exclusions mentioned above, would be $0.7951 per $100 of assessed value. This rate will be known as the “lowered tax rate.”
• Effective Rate Increase: The County of Fauquier proposes to adopt a tax rate of $0.9940 per $100 of assessed value, or the “advertised rate.” The difference between the lowered tax rate and the proposed, or advertised rate would $0.1989 per $100, or 25 percent. This difference will be known as the “effective tax rate increase.”
• In addition, the County of Fauquier’s County Administrator’s proposed budget recommends to adopt a tax rate of $0.9400 per $100 of assessed value. The difference between the lowered tax rate and the proposed rate would be $0.1449 per $100, or 18.2 percent.
• Individual property taxes may, however, increase at a percentage greater than or less than the above percentage.
• Proposed Total Budget Increase: Based on the proposed real property tax rate and changes in other revenues, the total budget of the County of Fauquier would exceed last year’s by 15.3 percent, if all requested budget proposals are approved.  The County Administrator’s recommended real property tax rate and changes in other revenues will be proposed and released on February 25, 2022 at a percentage to offset a portion of increased assessments.

Documents for this public hearing were previously provided to the Board members.  The proposed budget document will be available for review beginning February 25, 2022 at the Warren Green building, the Office of Management and Budget, and on the County website.