Charlottesville, Virginia Property Taxes
The median property tax rate in Charlottesville, VA is 0.84%, which is lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Charlottesville being $245,150, the typical annual property tax bill is $2,069, falling below the national median of $2,690. Property taxes in Charlottesville are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Charlottesville'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 Charlottesville or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Charlottesville, Virginia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$1,780
Ownwell’s Charlottesville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Charlottesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Charlottesville 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 Charlottesville, Virginia
Property taxes in Charlottesville, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Charlottesville is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Charlottesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Charlottesville 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 Charlottesville's effective property tax rate to other counties in Virginia and the national median. For comparison, the 22963 zip code has the highest median property tax rate of 0.84%, while the 22902 zip code has the lowest median tax rate of 0.84%. Understanding how these cities compare with Charlottesville provides valuable insights into the varying tax landscape across Fluvanna County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Charlottesville Tax Rate
0.84%
Average Fluvanna County Tax Rate
0.84%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Charlottesville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22902 | 0.84% | 0.84% | 0.84% | 0.84% | 0.84% |
| 22963 | 0.84% | 0.84% | 0.84% | 0.84% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Charlottesville, Virginia
In Charlottesville, 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 local appraisal authorities 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 Charlottesville, 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. For instance, the zip code with the highest median tax bill is 22902 at $2,210, while the lowest is 22963 at $415. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Charlottesville, Virginia
Source: Ownwell
$49,200
$225,750
$402,300
Average Charlottesville Assessed Value
$245,150
Average Fluvanna County Assessed Value
$247,650
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Charlottesville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22902 | $121,050 | $157,400 | $261,800 | $321,050 | $358,200 |
| 22963 | $49,200 | $49,200 | $49,200 | $49,200 | $49,200 |
Source: Ownwell
Property Tax Bills Across Charlottesville, Virginia
Property tax bills in Charlottesville, located in Fluvanna County, VA, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is an estimate of the property's market value, which is periodically updated to reflect changes in the real estate market. Several factors influence this assessed value, including the property's location, size, and condition. Homeowners in Charlottesville can expect varying tax bills depending on their property’s assessed value. For instance, the median home price in the area is $245,150. Tax bills can range significantly, with the 25th percentile paying around $1,168, while those in the 75th percentile face bills of approximately $2,690. Notably, the highest median tax bill in the region is $2,210 in the 22902 zip code, whereas the lowest is $415 in the 22963 zip code. These variations highlight how location within the same county can impact property tax obligations, influencing homeowners' annual financial planning.
Average Charlottesville Tax Bill
$2,069
Average Fluvanna County Tax Bill
$2,092
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Charlottesville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22902 | $1,022 | $1,328 | $2,210 | $2,710 | $3,146 |
| 22963 | $415 | $415 | $415 | $415 | $415 |
Source: Ownwell