Fairfax, Virginia Property Taxes

Ownwell's Fairfax Property Tax Bill Calculator enables homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Fairfax with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Fairfax to provide an estimated property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in more localized information, further details on neighborhood trends are available below. Your property's assessed value is determined by the county for property tax purposes and includes any applicable exemptions, ensuring an accurate estimation of your tax responsibilities.

Property Tax Assessment Values Across Fairfax, Virginia

In Fairfax, Virginia, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value represents 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 county's 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, 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. The highest median tax bill in Fairfax is $25,534 in the 35242 zip code, while the lowest median tax bill is $2,370 in the 20151 zip code. 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, Virginia

Source: Ownwell

$26,110

$12,068,795

$24,111,480

Average Fairfax Assessed Value

$630,850

Average Fairfax County Assessed Value

$616,950

Average Virginia Assessed Value

$298,700

Average United States Assessed Value

$244,900