District Of Columbia County, District of Columbia Property Taxes
The median property tax rate in District of Columbia is 0.77%, which is lower than the national median of 0.99% and matches the state median rate. With the median home value in District of Columbia at $593,750, the typical annual property tax bill reaches $4,081, surpassing the national median of $2,690. Property taxes in District of Columbia are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding District of Columbia's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in the city or another part of District of Columbia, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
District Of Columbia County, 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 District of Columbia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in the District of Columbia with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in the District of Columbia to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a 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 County, District of Columbia
Property taxes in the District of Columbia play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in the District of Columbia is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within the District of Columbia set these rates annually, and they can vary significantly between different areas within the district. Each year, the District of Columbia estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares the District of Columbia's effective property tax rate with the national median. For comparison, the city of Washington has a median property tax rate of 0.77%, which aligns with the district's rate. Analyzing how the District of Columbia's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Property Tax Rates Across District Of Columbia County, District of Columbia
Source: Ownwell
0.67%
0.76%
0.85%
Average District Of Columbia County Tax Rate
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, District of Columbia
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Washington | 0.35% | 0.66% | 0.77% | 0.82% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across District Of Columbia County, District of Columbia
In District of Columbia, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the District of Columbia Appraisal District. The assessed value, however, 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. Assessment notices in District of Columbia are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in District of Columbia will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across District Of Columbia County, District of Columbia
Source: Ownwell
$242,640
$740,165
$1,237,690
Average District Of Columbia County Assessed Value
$593,750
Average District of Columbia Assessed Value
$593,750
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across District Of Columbia County, District of Columbia
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Washington | $281,020 | $394,130 | $593,750 | $878,730 | $1,253,462 |
Source: Ownwell
Property Tax Bills Across District Of Columbia County, District of Columbia
In the District of Columbia, property tax bills are calculated based on the assessed value of a home, which is determined by the Office of Tax and Revenue. The tax rate is applied to this assessed value to arrive at the annual tax bill. For instance, with a median home price of $593,750, homeowners can expect varying tax bills depending on their property's assessed value and the applicable tax rate. Several factors influence the final tax bill, including property location, improvements, and market conditions. Homeowners in the 25th percentile typically see tax bills around $2,474, while those in the 75th percentile might pay as much as $6,707. For properties in the 90th percentile, tax bills can reach up to $10,011. Compared to the national median property tax rate of 0.99%, homeowners in Washington, DC, experience a unique range of tax bills. This variability significantly impacts homeowners, influencing their overall cost of living and financial planning.
Property Tax Bills Across District Of Columbia County, District of Columbia
Source: Ownwell
$1,817
$6,373
$10,929
Average District Of Columbia County Tax Bill
$4,081
Average District of Columbia Tax Bill
$4,081
Average United States Tax Bill
$2,690
Property Tax Bills Across District Of Columbia County, District of Columbia
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Washington | $1,461 | $2,474 | $4,081 | $6,707 | $10,011 |
Source: Ownwell