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Posted about 1 month ago

How Property Taxes Work in DC, Maryland, and Virginia

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Property taxes are one of the most overlooked homeownership costs — yet they directly impact your monthly mortgage payment. Here’s how they work in the DMV:

Washington, DC

  • Property tax rate: ~0.85%

  • Lower rate, but higher home prices

  • First-time buyers may qualify for the Homestead Deduction (reduces assessed value by $78,700)

Maryland

  • State rate + county rate (varies by jurisdiction)

  • Prince George’s County: ~1.29%

  • Montgomery County: ~1.00%
    Maryland also offers credits for seniors, veterans, and energy efficiency upgrades.

Virginia

  • Generally lower rates (average ~0.80%)

  • Arlington and Fairfax counties have slightly higher values, offsetting lower rates

How It Affects Your Mortgage
Most lenders escrow property taxes — meaning they divide your annual bill into 12 parts and add it to your monthly payment.
A home in DC and a similar one in PG County could have a $300/month difference in taxes!

Final Tip:
Ask your lender and agent for a full tax estimate on any home you’re serious about — don’t rely on Zillow.



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