Mc Lean, Fairfax County, Virginia Property Taxes
The median property tax rate in McLean, VA is 1.17%, considerably higher than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in McLean at $1,031,420, the typical annual property tax bill reaches $12,179, far exceeding the national median of $2,690. Property taxes in McLean 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 McLean'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 McLean or another part of Fairfax County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mc Lean, Fairfax County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$12,068
$11,198
Ownwell’s MC LEAN Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MC LEAN with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MC LEAN 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 Mc Lean, Fairfax County, Virginia
Property taxes in MC LEAN, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in MC LEAN is 1.17%, higher than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within MC LEAN set these rates annually, and they can vary significantly across different neighborhoods. Each year, MC LEAN 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 MC LEAN's effective property tax rate to other areas in Virginia and the national median. For comparison, the 22102 zip code has the highest median property tax rate of 1.19%, while the 22101 zip code has the lowest median tax rate of 1.17%. Understanding how these areas compare with MC LEAN 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 Mc Lean Tax Rate
1.17%
Average Fairfax County Tax Rate
1.14%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mc Lean, Fairfax County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22101 | 1.17% | 1.17% | 1.17% | 1.19% | 1.22% |
| 22102 | 1.17% | 1.17% | 1.19% | 1.19% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Mc Lean, Fairfax County, Virginia
In McLean, 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 Assessor 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 McLean, 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. For instance, the median home price in McLean is $1,031,420. The highest median tax bill is $13,507 in the 22101 zip code, while the lowest is $7,767 in the 22102 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 Mc Lean, Fairfax County, Virginia
Source: Ownwell
$362,520
$775,333
$1,188,145
Average Mc Lean Assessed Value
$1,031,420
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 Mc Lean, Fairfax County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22101 | $814,710 | $910,895 | $1,140,560 | $1,539,730 | $2,130,990 |
| 22102 | $278,383 | $343,070 | $641,810 | $1,286,585 | $1,948,687 |
Source: Ownwell
Property Tax Bills Across Mc Lean, Fairfax County, Virginia
Property tax bills in McLean, Fairfax County, VA, are calculated based on the assessed value of a property, which is determined by local tax assessors. The assessed value is then multiplied by the local property tax rate to generate the annual tax bill. For homeowners in McLean, the median home price is $1,031,420, which significantly influences their tax obligations. The tax bill varies widely depending on the property's value. For instance, the tax bill at the 25th percentile is $8,011, while at the 75th percentile, it rises to $16,909. Those at the 90th percentile can expect to pay around $24,323. The highest median tax bill in the region is $13,507 in the zip code 22101, whereas the lowest median tax bill is $7,767 in the zip code 22102. These property tax bills can have a substantial impact on homeowners, affecting their monthly budgets and long-term financial planning. Compared to the national median property tax rate of 0.99%, McLean's property taxes are relatively high, reflecting the area's higher property values.
Average Mc Lean Tax Bill
$12,179
Average Fairfax County Tax Bill
$7,154
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Mc Lean, Fairfax County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22101 | $9,426 | $10,759 | $13,507 | $18,070 | $24,945 |
| 22102 | $3,312 | $4,095 | $7,767 | $15,086 | $22,927 |
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. | |