Lorton, Virginia Property Taxes
The median property tax rate in Lorton, 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 Lorton at $538,040, the typical annual property tax bill reaches $6,098, exceeding the national median of $2,690. Property taxes in Lorton 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 Lorton'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 Lorton 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
Lorton, 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 Lorton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lorton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lorton 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 Lorton, Virginia
Property taxes in Lorton, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lorton is 1.14%, higher than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Lorton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lorton 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 Lorton's effective property tax rate to other areas in Fairfax County and the national median. For comparison, the zip code 22463 has the highest median property tax rate of 1.14%, while the zip code 22039 has the lowest median tax rate of 1.14%. Understanding how these areas compare with Lorton 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 Lorton 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 Lorton, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22039 | 1.14% | 1.14% | 1.14% | 1.14% | 1.14% |
| 22079 | 1.14% | 1.14% | 1.14% | 1.14% | 1.14% |
| 22124 | N/A | N/A | N/A | N/A | N/A |
| 22209 | 1.14% | 1.14% | 1.14% | 1.14% | 1.14% |
| 22463 | 1.14% | 1.14% | 1.14% | 1.14% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Lorton, Virginia
In Lorton, Virginia, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. 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 Lorton, 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. 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 in Lorton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Fairfax County, the highest median tax bill is $7,183 in zip code 22209, while the lowest is $3,314 in zip code 22039.
Average Lorton Assessed Value
$538,040
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 Lorton, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22039 | $281,166 | $284,415 | $289,830 | $459,375 | $561,102 |
| 22079 | $321,588 | $404,300 | $538,040 | $699,880 | $866,600 |
| 22124 | N/A | N/A | N/A | N/A | N/A |
| 22209 | $628,170 | $628,170 | $628,170 | $628,170 | $628,170 |
| 22463 | $367,000 | $367,000 | $367,000 | $367,000 | $367,000 |
Source: Ownwell
Property Tax Bills Across Lorton, Virginia
In Lorton, located in Fairfax County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor's office. This assessed value is a percentage of the home's market value. Fairfax County's property tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the assessed value, including the property's location, size, age, and condition. For instance, homes in Lorton have a median home price of $538,040. The tax bill in this area can vary significantly, with the 25th percentile at $4,595 and the 75th percentile at $7,963. For those at the 90th percentile, tax bills can reach up to $9,854. These property taxes play a crucial role in funding local services such as schools, public safety, and infrastructure. Homeowners in Lorton, therefore, experience a direct impact on their finances, making it important to understand how these taxes are calculated and managed.
Average Lorton Tax Bill
$6,098
Average Fairfax County Tax Bill
$7,154
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Lorton, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22039 | $3,215 | $3,252 | $3,314 | $5,253 | $6,416 |
| 22079 | $3,596 | $4,595 | $6,098 | $7,965 | $9,854 |
| 22124 | N/A | N/A | N/A | N/A | N/A |
| 22209 | $7,183 | $7,183 | $7,183 | $7,183 | $7,183 |
| 22463 | $4,197 | $4,197 | $4,197 | $4,197 | $4,197 |
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. | |