Property Taxes in District of Columbia
The median DC property tax rate is 0.77%, which is notably lower than the national median of 0.99%. With a median home value of $593,750, the median DC property tax bill amounts to $4,081 annually, still higher than the national median annual property tax bill. Property taxes in DC are calculated based on the tax assessed value, typically lower than the actual market value due to property tax exemptions like the primary residence exemption. Understanding your county's specific property tax system, exploring property tax exemptions, and recognizing opportunities for property tax reductions can lead to significant annual tax savings. Familiarizing yourself with the property taxes in your location can benefit homeowners and investors alike.
Last Updated June 14, 2024
District of Columbia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$4,572
$4,243
Ownwell’s DC Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DC with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in DC to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a county or city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across District of Columbia
Property taxes in DC fund essential local services such as public schools, road maintenance, and emergency services. The median tax rate in DC is 0.77% compared to the national median property tax rate of 0.99%. The tax rate is set by local government entities, and it can vary widely between different areas within DC. Put simply, each county estimates its required budget to provide services for the upcoming year, and then divides that by the total value of all taxable property within their jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell that is the process followed each year. Compare a DC county’s effective property tax rate to other counties in DC or the US median property tax rate below. District of Columbia has the highest property tax rate in DC at 0.77%. District of Columbia also has the lowest property tax rate in DC at 0.77%.
Average District of Columbia Tax Rate
0.77%
Average United States Tax Rate
0.99%
Property Tax Rates Across District of Columbia
| County | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| District of Columbia | 0.35% | 0.66% | 0.77% | 0.82% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across District of Columbia
When examining property taxes in DC, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by factors such as location, property condition, and economic market trends. Market value is estimated by each DC county assessor for tax purposes. The assessed value is then the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes, or the amount multiplied by your tax rate to get your tax bill. Assessment notices in DC are sent in the spring each year. They should reach your mailbox typically by the end of April. Each property owner receives an assessment notice that contains both the market value and assessed value along with an estimate of your property tax bill. By providing insights into how assessed values and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in DC. In DC, the highest and lowest median tax bills are both $4,081, reflecting the unique property tax landscape of the region.
Average District of Columbia Assessed Value
$593,750
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across District of Columbia
| County | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| District of Columbia | $281,020 | $394,130 | $593,750 | $878,730 | $1,253,462 |
Source: Ownwell
Property Tax Bills Across District of Columbia
In Washington, D.C., property tax bills are calculated based on the assessed value of a home, which is determined by the Office of Tax and Revenue. The assessed value is then multiplied by the tax rate to determine the annual tax bill. Homeowners in D.C. experience a median property tax rate of 0.69%, which is lower than the national median of 0.99%. For a home with a median price of $593,750, this results in a median tax bill of around $4,081. However, tax bills can vary significantly. For example, homeowners at the 25th percentile pay approximately $2,474, while those at the 75th percentile pay around $6,707. At the 90th percentile, the tax bill can reach up to $10,011. These variations are influenced by factors such as property location, market conditions, and any applicable exemptions or abatements. Understanding how these elements interact is crucial for homeowners in managing and anticipating their property tax obligations.
Average District of Columbia Tax Bill
$4,081
Average United States Tax Bill
$2,690
Property Tax Bills Across District of Columbia
| County | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| District of Columbia | $1,461 | $2,474 | $4,081 | $6,707 | $10,011 |
Source: Ownwell