Great Falls, Loudoun County, Virginia Property Taxes
Median Great Falls, VA effective property tax rate: 0.88%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Great Falls, VA home value: $663,190
Median annual Great Falls, VA tax bill: $5,803, $3,403 higher than the national median property tax bill of $2,400.
How are property taxes in Loudoun calculated?
Property taxes in Great Falls, VA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Great Falls’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Great Falls, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Great Falls, Loudoun County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.88%
Estimate Property Tax Bill
$5,836
$5,416
Property Tax Rates Across Great Falls, Loudoun County, Virginia
Local government entities set property tax rates, which can vary significantly within a state. Each county, including Loudoun County, estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
In Great Falls, the effective property tax rate is 0.88%, which is below the national median of 1.02%. This rate is consistent across Loudoun County, as seen in the zip code 22066. When compared to the national median property tax bill of $2400, residents in Great Falls benefit from relatively lower property taxes. Understanding these rates can help property owners in Great Falls make informed decisions about appealing their property taxes or seeking exemptions. By staying informed, property owners can ensure they are not overpaying and can potentially save money.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Great Falls Tax Rate
0.88%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Loudoun County Tax Rate
0.88%
Median Effective Virginia Tax Rate
0.89%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Great Falls, Loudoun County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22066 | 0.87% | 0.87% | 0.88% | 0.88% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Great Falls, Loudoun County, Virginia
When examining property taxes in Great Falls, VA, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Loudoun County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Loudoun County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Great Falls. For example, the median home price in Great Falls is $663,190, with tax bills ranging significantly across the county. Zip code 22066 has the highest median home price at $663,190.
Property Tax Assessment Values Across Great Falls, Loudoun County, Virginia
Source: Ownwell
$490,010
$1,049,260
$1,608,510
Median Great Falls Market Value
$663,190
Median Loudoun County Market Value
$662,650
Median Virginia Market Value
$298,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Great Falls, Loudoun County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22066 | $589,298 | $639,990 | $663,190 | $695,460 | $732,934 |
Source: Ownwell
Property Tax Bills Across Great Falls, Loudoun County, Virginia
Median Great Falls Tax Bill
$5,803
Median Loudoun County Tax Bill
$5,811
Median Virginia Tax Bill
$2,608
Median United States Tax Bill
$2,400
Property Tax Bills Across Great Falls, Loudoun County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22066 | $5,156 | $5,600 | $5,803 | $6,085 | $6,413 |
Source: Ownwell