On May 5, 2026, the Fairfax County Board of Supervisors formally adopted the Revitalization and Redevelopment Economic Incentive Program (RREIP), which, among other incentives, will allow up to a 10-year real estate tax abatement for certain projects. The new program will replace the current Economic Incentive Program (EIP). Owners and developers should prepare to take advantage of the abatement. The RREIP goes into effect on May 6, 2026.
Under the new program, a project must meet certain criteria to be eligible for the 10-year tax abatement. The project must:
- be developed for commercial, industrial, multi-family or mixed use;
- consolidate two or more parcels;
- consist of two acres or more (can be waived by the Board of Supervisors); and
- be located in a designated Revitalization and Redevelopment Economic Incentive Area.
The RREIP covers the county’s community revitalization districts, including Annandale, Bailey’s Crossroads/Seven Corners, Lincolnia, McLean, the Richmond Highway Corridor and Springfield. The RREIP also includes new areas covering Huntington, Culmore, Lake Anne and an expanded portion of Annandale.
Unlike the current EIP, the RREIP creates a separate Economic Revitalization Zone (ERZ) for each approved project. The ERZ will be approved at the time of a rezoning, and the 10-year tax abatement will begin three years after approval. In essence, a development will have three years from the time of the zoning approval to complete construction and achieve the full 10-year abatement. The time period can be expanded to four years by the Board of Supervisors.
To discuss eligibility, strategy and stakeholder engagement to maximize these potential incentives, contact the authors or a member of the Real Estate Transactions Practice Group.