Falls Church, Virginia Property Taxes
The median property tax rate in Falls Church, VA is 1.23%, considerably higher than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Falls Church at $919,850, the typical annual property tax bill reaches $11,348, far exceeding the national median of $2,690. Property taxes in Falls Church 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 Falls Church'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 Falls Church 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
Falls Church, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$11,314
$10,499
Ownwell’s Falls Church Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Falls Church with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Falls Church 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 Falls Church, Virginia
Property taxes in Falls Church, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Falls Church is 1.23%, significantly higher than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Falls Church set these rates annually, and they can vary considerably across different neighborhoods. Each year, Falls Church 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 Falls Church's effective property tax rate to other counties in Virginia and the national median. For comparison, the ZIP code 22042 has the highest median property tax rate of 1.23%, while the same ZIP code also has the lowest median tax rate of 1.23%. Understanding how these areas compare with Falls Church provides valuable insights into the varying tax landscape across Falls Church, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Falls Church Tax Rate
1.23%
Average Falls Church County Tax Rate
1.23%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Falls Church, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22042 | 1.23% | 1.23% | 1.23% | 1.23% | 1.23% |
| 22043 | 1.23% | 1.23% | 1.23% | 1.23% | 1.23% |
| 22044 | 1.23% | 1.23% | 1.23% | 1.23% | 1.23% |
| 22046 | 1.23% | 1.23% | 1.23% | 1.23% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Falls Church, Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Falls Church, VA. 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 local 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. Assessment notices in Falls Church 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. For instance, the median home price in Falls Church is $919,850, with tax bills varying significantly. The highest median tax bill is $11,542 in zip code 22046, while the lowest is $2,332 in zip code 22044. By understanding 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Falls Church Assessed Value
$919,850
Average Falls Church County Assessed Value
$919,600
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Falls Church, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22042 | $702,000 | $878,700 | $927,100 | $1,047,200 | $1,210,260 |
| 22043 | $67,960 | $225,200 | $539,300 | $624,100 | $749,800 |
| 22044 | $189,200 | $189,200 | $189,600 | $221,600 | $223,600 |
| 22046 | $419,200 | $651,075 | $934,900 | $1,181,175 | $1,566,950 |
Source: Ownwell
Property Tax Bills Across Falls Church, Virginia
Property tax bills in Falls Church, VA are calculated based on the assessed value of a property, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Falls Church has a higher median property tax rate compared to the national median of 0.99%, reflecting the area's higher property values. For instance, the median home price in Falls Church is $919,850, leading to substantial tax bills. Homeowners in Falls Church can expect their property tax bills to vary significantly. The 25th percentile tax bill is around $7,368, while the 75th percentile reaches approximately $14,325. At the 90th percentile, homeowners may face tax bills as high as $19,135. The highest median tax bill in the area is $11,542 in zip code 22046, while the lowest is $2,332 in zip code 22044. These variations highlight the significant impact of property assessments and tax rates on homeowners' financial obligations in Falls Church.
Average Falls Church Tax Bill
$11,348
Average Falls Church County Tax Bill
$11,348
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Falls Church, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22042 | $8,635 | $10,808 | $11,403 | $12,881 | $14,886 |
| 22043 | $1,240 | $4,597 | $6,772 | $8,063 | $9,223 |
| 22044 | $2,327 | $2,327 | $2,332 | $2,726 | $2,750 |
| 22046 | $5,280 | $8,184 | $11,542 | $14,567 | $19,288 |
Source: Ownwell