Aroda, Virginia Property Taxes
The median property tax rate in Aroda, VA is 0.74%, which is notably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Aroda at $211,650, the typical annual property tax bill is $1,551, significantly below the national median of $2,690. Property taxes in Aroda are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Aroda'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 Aroda 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
Aroda, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$1,566
Ownwell’s ARODA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in ARODA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ARODA 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 Aroda, Virginia
Property taxes in Aroda, Virginia, are crucial for funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Aroda is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Aroda set these rates annually, and they can vary significantly across different neighborhoods. Each year, Aroda 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 Aroda's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 22709 has both the highest and lowest median property tax rate of 0.74%. Understanding how these cities compare with Aroda provides valuable insights into the varying tax landscape across Madison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Aroda Tax Rate
0.74%
Average Madison County Tax Rate
0.74%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Aroda, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22709 | 0.74% | 0.74% | 0.74% | 0.74% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Aroda, Virginia
In Aroda, 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 Madison County Assessment Office 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 Aroda, 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 Aroda helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 22709 in Aroda has the highest median tax bill at $1,551, which is significantly lower than the national median property tax rate of 0.99%.
Average Aroda Assessed Value
$211,650
Average Madison County Assessed Value
$210,150
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Aroda, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22709 | $127,410 | $163,050 | $211,650 | $293,725 | $385,170 |
Source: Ownwell
Property Tax Bills Across Aroda, Virginia
Property tax bills in Aroda, Madison County, VA are calculated based on the assessed value of a property, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Aroda, the median home price is $211,650. The tax bills can vary significantly, with the 25th percentile at $1,200, the 75th percentile at $2,116, and the 90th percentile reaching up to $2,739. Compared to the national median property tax rate of 0.99%, the tax rates in Aroda reflect the local government's need to fund public services such as schools, infrastructure, and emergency services. For homeowners, this means that property taxes can represent a substantial portion of their annual expenses, affecting their overall cost of living and potentially influencing their decision to buy or sell property in the area. The highest and lowest median tax bills in the region are both $1,551, indicating a consistent tax environment within the zip code 22709.
Average Aroda Tax Bill
$1,551
Average Madison County Tax Bill
$1,531
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Aroda, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22709 | $909 | $1,200 | $1,551 | $2,116 | $2,739 |
Source: Ownwell