Greenbelt, Virginia Property Taxes
The median property tax rate in Greenbelt, 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 Greenbelt at $388,200, the typical annual property tax bill reaches $4,775, exceeding the national median of $2,690. Property taxes in Greenbelt 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 Greenbelt'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 Greenbelt or another part of Falls Church County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Greenbelt, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.23%
Estimate Property Tax Bill
$4,775
Ownwell’s Greenbelt Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Greenbelt with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Greenbelt 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 Greenbelt, Virginia
Property taxes in Greenbelt, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Greenbelt is 1.23%, significantly higher than the U.S. national median of 0.99%. Local government entities within Greenbelt set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greenbelt 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 Greenbelt's effective property tax rate to other counties in Virginia and the national median. For comparison, the 20770 zip code 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 cities compare with Greenbelt 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 Greenbelt 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 Greenbelt, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20770 | 1.23% | 1.23% | 1.23% | 1.23% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Greenbelt, Virginia
In Greenbelt, 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 Falls Church 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 Greenbelt, 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. For example, the highest median tax bill in Greenbelt is $4,775 in the 20770 zip code, which is also the lowest median tax bill. This is significantly higher than the national median property tax rate of 0.99%. 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 Greenbelt helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Greenbelt Assessed Value
$388,200
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 Greenbelt, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20770 | $388,200 | $388,200 | $388,200 | $388,200 | $388,200 |
Source: Ownwell
Property Tax Bills Across Greenbelt, Virginia
Property tax bills in Greenbelt, Falls Church, VA, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by local government assessors who evaluate various factors, including the property's size, age, location, and market conditions. In Greenbelt, the median home price stands at $388,200. Homeowners in this area typically see a property tax bill around $4,775, which is consistent across the 25th, 75th, and 90th percentiles. This tax bill is significantly higher than the national median property tax rate of 0.99%, reflecting the higher property values and local tax rates in Falls Church County. For homeowners, this means a considerable portion of their annual budget must be allocated to property taxes, which can impact decisions on home improvements, sales, and overall financial planning. Understanding these factors helps homeowners anticipate their annual expenses and plan accordingly.
Average Greenbelt Tax Bill
$4,775
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 Greenbelt, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20770 | $4,775 | $4,775 | $4,775 | $4,775 | $4,775 |
Source: Ownwell