Stevensburg, Virginia Property Taxes
The median property tax rate in Stevensburg, VA is 0.46%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Stevensburg at $358,100, the typical annual property tax bill is $1,460, well below the national median of $2,690. Property taxes in Stevensburg are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Stevensburg'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 Stevensburg 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
Stevensburg, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.46%
Estimate Property Tax Bill
$1,647
Ownwell’s Stevensburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stevensburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stevensburg 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 Stevensburg, Virginia
Property taxes in Stevensburg, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stevensburg is 0.46%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Stevensburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stevensburg 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 Stevensburg's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 22741 has the highest median property tax rate of 0.46%, while the same zip code also has the lowest median tax rate of 0.46%. Understanding how these cities compare with Stevensburg provides valuable insights into the varying tax landscape across Culpeper County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stevensburg Tax Rate
0.46%
Average Culpeper County Tax Rate
0.46%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stevensburg, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22741 | 0.35% | 0.42% | 0.46% | 0.46% | 0.46% |
Source: Ownwell
Property Tax Assessment Values Across Stevensburg, Virginia
In Stevensburg, 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 Culpeper 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 Stevensburg, 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. 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 Stevensburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 22741, with a value of $1,460, which is notably below the national median property tax rate of 0.99%.
Average Stevensburg Assessed Value
$358,100
Average Culpeper County Assessed Value
$394,900
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stevensburg, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22741 | $138,500 | $215,900 | $358,100 | $508,600 | $725,700 |
Source: Ownwell
Property Tax Bills Across Stevensburg, Virginia
In Stevensburg, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $358,100, homeowners can expect their property tax bill to vary significantly. At the 25th percentile, the tax bill is around $934, while at the 75th percentile, it rises to approximately $2,170. The 90th percentile sees tax bills reaching up to $2,749. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. Homeowners in Stevensburg should be aware that the highest median tax bill in the area is $1,460, specific to the zip code 22741, which can be used as a benchmark for understanding potential tax liabilities. Comparing this to the national median property tax rate of 0.99%, Stevensburg's property tax rates can significantly impact household budgets and overall financial planning.
Average Stevensburg Tax Bill
$1,460
Average Culpeper County Tax Bill
$1,772
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Stevensburg, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22741 | $516 | $934 | $1,460 | $2,170 | $2,749 |
Source: Ownwell