Markham, Fauquier County, Virginia Property Taxes
Median Markham, VA effective property tax rate: 0.90%, slightly lower than the national median of 1.02%, but higher than the Virginia state median of 0.89%.
Median Markham, VA home value: $529,750
Median annual Markham, VA tax bill: $3,712, $1,312 higher than the national median property tax bill of $2,400.
How are property taxes in Fauquier County calculated?
Property taxes in Markham, 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 Markham’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Markham, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Markham, Fauquier County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.94%
Estimate Property Tax Bill
$6,725
$6,240
Property Tax Rates Across Markham, Fauquier County, Virginia
Local government entities are responsible for setting tax rates, which can vary significantly within a state. Each county, like 51061 in Virginia, estimates its required budget annually to provide essential services. They divide this budget by the total value of all taxable property within their jurisdiction, resulting in the property tax rate. This process, though influenced by votes and laws, essentially determines how much property owners will pay in taxes each year.
In Markham, located in Fauquier County, the effective property tax rate offers a unique perspective when compared to other cities in Virginia. Interestingly, Markham's rate aligns with the highest and lowest median tax rates within the state, both recorded at 0.90%. This rate is notably lower than the national median property tax rate of 1.02%, offering potential savings for property owners in the area. Additionally, the national median property tax bill is $2400, providing a benchmark for comparison.
Understanding these rates can be crucial for property owners looking to optimize their tax obligations. By comparing local rates to state and national figures, property owners can make informed decisions about their property investments and potential tax liabilities.
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 Markham Tax Rate
0.94%
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 Fauquier County Tax Rate
0.95%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Markham, Fauquier County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22643 | 0.35% | 0.67% | 0.94% | 0.95% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Markham, Fauquier County, Virginia
When examining property taxes in Markham, Virginia, 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 Fauquier 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 Fauquier 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 Markham. For example, the median home price in Markham is $529,750, with tax bills ranging significantly across the county. 22643 has the highest median home price at $529,750.
Property Tax Assessment Values Across Markham, Fauquier County, Virginia
Source: Ownwell
$321,100
$560,700
$800,300
Median Markham Market Value
$715,400
Median Fauquier County Market Value
$476,600
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Markham, Fauquier County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22643 | $334,400 | $504,350 | $715,400 | $1,006,400 | $1,480,360 |
Source: Ownwell
Property Tax Bills Across Markham, Fauquier County, Virginia
Median Markham Tax Bill
$5,767
Median Fauquier County Tax Bill
$4,438
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Markham, Fauquier County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22643 | $2,133 | $3,773 | $5,767 | $7,567 | $10,117 |
Source: Ownwell