Washington, Virginia Property Taxes
The median property tax rate in Washington, VA is 1.14%, significantly higher than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Washington at $465,950, the typical annual property tax bill reaches $5,328, far exceeding the national median of $2,690. Property taxes in Washington are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Washington'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 Washington 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
Washington, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$5,312
Ownwell’s Washington Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Washington. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Washington to provide an accurate estimate of your property tax bill. This tool offers a clear understanding of potential tax liabilities, helping you make informed financial decisions. For those interested in more detailed insights, you can explore trends at the neighborhood level by scrolling down. Your property's assessed value is determined by the county for tax purposes and includes any applicable exemptions.
Property Tax Rates Across Washington, Virginia
Property taxes in Washington, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Washington is 1.14%, which is higher than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Washington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Washington 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 Washington's effective property tax rate to other areas in Fairfax County and the national median. For comparison, the 20520 zip code has the highest median property tax rate of 1.19%, while the 20502 zip code has the lowest median tax rate of 1.14%. Understanding how these areas compare with Washington 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 Washington 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 Washington, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20502 | 1.14% | 1.14% | 1.14% | 1.14% | 1.14% |
| 20520 | 1.19% | 1.19% | 1.19% | 1.19% | 1.19% |
| 20521 | 1.14% | 1.14% | 1.14% | 1.14% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Washington, Virginia
In Washington, 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 Washington, 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 Washington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 20521 at $7,085, whereas the lowest is 20520 at $4,095.
Property Tax Assessment Values Across Washington, Virginia
Source: Ownwell
$26,110
$12,068,795
$24,111,480
Average Washington Assessed Value
$465,950
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 Washington, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20502 | $429,410 | $429,410 | $429,410 | $429,410 | $429,410 |
| 20520 | $343,070 | $343,070 | $343,070 | $343,070 | $343,070 |
| 20521 | $525,917 | $561,058 | $619,625 | $678,192 | $713,333 |
Source: Ownwell
Property Tax Bills Across Washington, Virginia
In Washington, Fairfax County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the home's size, age, location, and market conditions. For instance, the median home price in Washington is $465,950, which serves as a benchmark for assessing property values. Homeowners in this area can expect to pay a median property tax bill of around $5,561, which is significantly higher than the national median property tax rate of 0.99%. The tax bill can vary widely, with the 25th percentile at $4,706 and the 75th percentile at $6,416, indicating a range of tax burdens depending on the property's assessed value. This affects homeowners by influencing their overall housing costs, potentially impacting affordability and financial planning. The highest median tax bill in the area is $7,085, while the lowest is $4,095, showing substantial variability within the region.
Average Washington Tax Bill
$5,328
Average Fairfax County Tax Bill
$7,154
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Washington, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20502 | $4,910 | $4,910 | $4,910 | $4,910 | $4,910 |
| 20520 | $4,095 | $4,095 | $4,095 | $4,095 | $4,095 |
| 20521 | $6,014 | $6,416 | $7,085 | $7,755 | $8,157 |
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. | |