The FY 2027 Proposed Budget incorporates the recently completed County-wide real property reassessment effective January 1, 2026. The County’s reassessment process has been completed on a four-year basis, with the change in assessed value of real property calculated on that cycle, exclusive of additions or improvements assessed annually. The overall impact of the reassessment, or change in value of real property since January 2022, resulted in an approximately 22.3% increase in the total assessed value of real properties and 26.82% increase in the total taxable value, adjusted for land use, prior to adjustments for tax relief for the elderly and disabled and exempted property of Disabled Veterans. A portion of increased value is related to residential properties experiencing an approximately 21.9% increase, while overall commercial and industrial properties (Data Center Zoned) and larger parcels, those with twenty to one-hundred acres, experienced an increase in assessed value of 58.2% and 8.2%, respectively. In addition, multi-family residential units experienced a 25.4% increase, and large parcels in excess of one-hundred acres experienced an increase of 17.4%.

The Board of Supervisors has scheduled a public hearing to consider the effects of the 2026 biennial reassessment. The proposed budget document will be available for review beginning March 3, 2026, at the Warren Green building and on the County website at http://www.fauquiercounty.gov/government/departments-hz/management-and-budget.