Fort Belvoir, Virginia Property Taxes
The median property tax rate in Fort Belvoir, VA is 1.14%, considerably higher than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Fort Belvoir at $629,390, the typical annual property tax bill reaches $7,201, significantly exceeding the national median of $2,690. Property taxes in Fort Belvoir 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 Fort Belvoir'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 Fort Belvoir 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
Fort Belvoir, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.14%
Estimate Property Tax Bill
$7,175
Ownwell’s Fort Belvoir Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fort Belvoir with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fort Belvoir 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 Fort Belvoir, Virginia
Property taxes in Fort Belvoir, Virginia, are essential in funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Fort Belvoir is 1.14%, which is significantly higher than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Fort Belvoir set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fort Belvoir 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 Fort Belvoir's effective property tax rate to other areas in Fairfax County and the national median. For comparison, the zip code 22060 has the highest median property tax rate of 1.14%, while the same zip code also has the lowest median tax rate of 1.14%. Understanding how these areas compare with Fort Belvoir 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 Fort Belvoir 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 Fort Belvoir, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22060 | 1.14% | 1.14% | 1.14% | 1.14% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Fort Belvoir, Virginia
In Fort Belvoir, 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 Fort Belvoir, 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 Fort Belvoir helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Fort Belvoir are both $7,201, found in the 22060 zip code.
Property Tax Assessment Values Across Fort Belvoir, Virginia
Source: Ownwell
$26,110
$12,068,795
$24,111,480
Average Fort Belvoir Assessed Value
$629,390
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 Fort Belvoir, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22060 | $561,770 | $578,235 | $629,390 | $670,530 | $678,270 |
Source: Ownwell
Property Tax Bills Across Fort Belvoir, Virginia
In Fort Belvoir, Fairfax County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the county's tax assessor. The tax rate, applied to this assessed value, plays a significant role in determining the final tax bill. Fairfax County employs a competitive tax rate compared to the national median property tax rate of 0.99%. For instance, with a median home price of $629,390, the tax bills in Fort Belvoir range significantly, reflecting the property’s assessed value and the applied tax rate. Homeowners in Fort Belvoir can expect tax bills around the 25th percentile at $6,633, while those at the 75th percentile see bills of approximately $7,672. The 90th percentile tax bill reaches up to $7,757. These figures highlight the variability in tax obligations based on property values and assessment accuracy. Homeowners should be aware that higher property values lead to higher tax bills, which can impact their annual financial planning and overall housing affordability.
Average Fort Belvoir Tax Bill
$7,201
Average Fairfax County Tax Bill
$7,154
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Fort Belvoir, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22060 | $6,441 | $6,633 | $7,201 | $7,672 | $7,757 |
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. | |