Remington, Virginia Property Taxes
The median property tax rate in Remington, VA is 0.91%, slightly lower than the national median of 0.99% but higher than the Virginia state median of 0.89%. With the median home value in Remington at $282,450, the typical annual property tax bill reaches $2,555, which is below the national median of $2,690. Property taxes in Remington are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Remington'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 Remington 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
Remington, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$2,570
Ownwell’s Remington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Remington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Remington 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 Remington, Virginia
Property taxes in Remington, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Remington is 0.91%, slightly lower than the U.S. national median of 0.99%. Local government entities within Remington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Remington 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 Remington's effective property tax rate to other counties in Virginia and the national median. For comparison, the 22734 zip code has the highest median property tax rate of 0.91%, while the same zip code also has the lowest median tax rate of 0.91%. Understanding how these areas compare with Remington provides valuable insights into the varying tax landscape across Fauquier County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Remington Tax Rate
0.91%
Average Fauquier County Tax Rate
0.91%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Remington, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22734 | 0.90% | 0.90% | 0.91% | 0.91% | 0.92% |
Source: Ownwell
Property Tax Assessment Values Across Remington, Virginia
In Remington, 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 Fauquier 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 Remington, 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 Remington 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 22734, with a value of $2,555, while the lowest median tax bill is also in the same zip code at $2,555.
Average Remington Assessed Value
$282,450
Average Fauquier County Assessed Value
$435,300
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Remington, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22734 | $4,900 | $146,475 | $282,450 | $378,425 | $459,990 |
Source: Ownwell
Property Tax Bills Across Remington, Virginia
Property tax bills in Remington, VA, are calculated based on the assessed value of a homeowner's property, which is determined by the Fauquier County assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. In Remington, the median home price is $282,450, which serves as a benchmark for calculating property taxes. Homeowners in Remington can expect tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $1,457, while at the 75th percentile, it rises to $3,383, and at the 90th percentile, it reaches $4,003. These variations reflect differences in property values and individual assessments. The highest and lowest median tax bills in Remington are both $2,555, indicating a consistent median tax rate within the zip code 22734. Compared to the national median property tax rate of 0.99%, Remington's property tax rates are competitive, impacting homeowners by influencing their annual financial obligations and overall cost of homeownership.
Average Remington Tax Bill
$2,555
Average Fauquier County Tax Bill
$3,881
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Remington, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22734 | $58 | $1,457 | $2,555 | $3,383 | $4,003 |
Source: Ownwell