Falls Church, Virginia Property Taxes
The median property tax rate in Falls Church, VA is 1.03%, considerably higher than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Falls Church at $573,800, the typical annual property tax bill reaches $5,910, exceeding the national median of $2,690. Property taxes in Falls Church 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 Falls Church'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 Falls Church 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
Falls Church, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$5,910
Ownwell’s Falls Church Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Falls Church 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 Falls Church, Virginia
Property taxes in Falls Church, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Falls Church is 1.03%, higher than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Falls Church set these rates annually, and they can vary significantly across different neighborhoods. Each year, Falls Church 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 Falls Church's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 22046 has both the highest and lowest median property tax rate of 1.03%. Understanding how these cities compare with Falls Church provides valuable insights into the varying tax landscape across Arlington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Falls Church Tax Rate
1.03%
Average Arlington County Tax Rate
1.03%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Falls Church, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22046 | 1.02% | 1.03% | 1.03% | 1.03% | 1.03% |
Source: Ownwell
Property Tax Assessment Values Across Falls Church, Virginia
In Falls Church, 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 Arlington 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 Falls Church, 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. The median home price in Falls Church is $573,800, and understanding the distinction between these valuation concepts can help property owners better navigate their tax responsibilities. The highest median tax bill is $5,910 in the 22046 zip code, which also has the lowest median tax bill at the same amount. By being aware of these valuation processes, homeowners can identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Property Tax Assessment Values Across Falls Church, Virginia
Source: Ownwell
$369,850
$1,961,825
$3,553,800
Average Falls Church Assessed Value
$573,800
Average Arlington County Assessed Value
$727,300
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Falls Church, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22046 | $9,760 | $93,775 | $573,800 | $936,700 | $1,000,210 |
Source: Ownwell
Property Tax Bills Across Falls Church, Virginia
In Falls Church, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the tax bill. Factors such as property size, location, and market conditions influence the assessed value. For instance, the median home price in Falls Church is $573,800. Homeowners in Falls Church can expect varying tax bills depending on their property's assessed value. For example, the 25th percentile tax bill is $966, while those in the 75th percentile pay around $9,648. At the 90th percentile, the tax bill reaches up to $10,302, reflecting the higher property values in this area. The impact on homeowners is significant, as property taxes are a substantial annual expense. The highest median tax bill in a specific ZIP code, 22046, is $5,910. Comparatively, the national median property tax rate is 0.99%, making it essential for homeowners to understand how these factors affect their financial obligations.
Average Falls Church Tax Bill
$5,910
Average Arlington County Tax Bill
$7,464
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Falls Church, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22046 | $101 | $966 | $5,910 | $9,648 | $10,302 |
Source: Ownwell