Fairfax County Land Use
Establishes New Program to Encourage Economic Growth
Fairfax County adopted a new program on Sept. 15, 2020, that provides economic incentives to the private sector for the revitalization and redevelopment of properties in select commercial areas. Called the Economic Incentive Program (EIP), this program encourages economic growth by providing multiple financial and regulatory incentives.
Financial incentives for the EIP include a ten percent reduction of site plan fees and a partial abatement of the real estate taxes on the difference between the base value of a property and its post-development value, including any increase or decrease in the annual assessed value of the tax-exempt portion of the property.
The EIP’s regulatory incentives include expedited scheduling of zoning applications and concurrent processing of a Comprehensive Plan amendment and zoning application, and concurrent processing of a site plan with a zoning application.
To qualify for the Economic Incentive Program, development proposals must meet the following criteria:
Each of the six designated areas for the EIP has a specified ten-year timeframe in which eligible development can receive the partial real estate tax abatement. For Annandale, the time frame is January 1, 2025 to December 31, 2034. This timeframe is the period within which a qualifying property will be able to avail themselves of the partial real estate tax abatement. The partial real estate tax abatement does not extend beyond the specified timeframes, regardless of when a property becomes qualifying.
For additional information about the Economic Incentive Program, visit www.fcrevite.org/economic-incentive-program .
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