Fairfax Station, Virginia Property Taxes
The median property tax rate in Fairfax Station, VA is 1.14%, considerably higher than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Fairfax Station at $864,060, the typical annual property tax bill reaches $9,851, far exceeding the national median of $2,690. Property taxes in Fairfax Station are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Fairfax Station's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Fairfax Station or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fairfax Station, Virginia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$1,780
Ownwell’s Fairfax Station Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fairfax Station with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fairfax Station to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Fairfax Station, Virginia
Property taxes in Fairfax Station, Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fairfax Station stands at 1.14%, notably higher than the U.S. national median of 0.99%. Local government entities within Fairfax Station set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fairfax Station estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Fairfax Station's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 22039 has the highest median property tax rate of 1.14%, while the same zip code also has the lowest median tax rate of 1.14%. Understanding how these cities compare with Fairfax Station provides valuable insights into the varying tax landscape across Fairfax County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fairfax Station Tax Rate
1.14%
Average Fairfax County Tax Rate
1.14%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fairfax Station, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22039 | 1.14% | 1.14% | 1.14% | 1.14% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Fairfax Station, Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Fairfax Station, VA. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Fairfax County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Fairfax Station, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. For example, the median home price in Fairfax Station is $864,060, with tax bills ranging from $9,032 at the 25th percentile to $12,729 at the 90th percentile. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Fairfax Station, Virginia
Source: Ownwell
$26,110
$12,068,795
$24,111,480
Average Fairfax Station Assessed Value
$864,060
Average Fairfax County Assessed Value
$616,950
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fairfax Station, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22039 | $735,250 | $793,970 | $864,060 | $955,820 | $1,116,514 |
Source: Ownwell
Property Tax Bills Across Fairfax Station, Virginia
In Fairfax Station, VA, property tax bills are calculated based on the assessed value of the home, which is determined by the local tax assessor. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Homeowners in Fairfax Station experience tax bills that vary significantly depending on the value of their property. For instance, the tax bill at the 25th percentile is approximately $9,032, while at the 75th percentile, it rises to around $10,914. Those at the 90th percentile can expect to pay up to $12,729. These tax rates are crucial for local funding, including schools, infrastructure, and public services, directly impacting the community's quality of life. Compared to the national median property tax rate of 0.99%, Fairfax Station's rates are notably higher, reflecting the area's higher property values and the corresponding need for local services and amenities. Homeowners should be aware of these factors as they can significantly affect their annual financial planning and overall cost of living.
Average Fairfax Station Tax Bill
$9,851
Average Fairfax County Tax Bill
$7,154
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Fairfax Station, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22039 | $8,331 | $9,032 | $9,851 | $10,914 | $12,729 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | June 6 |
| Due Date #2 | December 5 |
Links | |
|---|---|
| Fairfax Tax Assessor | |
| realestateoffice@fairfaxva.gov. | |