Culpeper, Virginia Property Taxes
The median property tax rate in Culpeper, VA is 0.76%, which is lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $237,500 in Culpeper, the typical annual property tax bill amounts to $1,829, falling below the national median of $2,690. Property taxes in Culpeper are calculated based on the assessed value, which often remains below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Culpeper'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 Culpeper 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
Culpeper, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$1,805
Ownwell’s Culpeper Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Culpeper with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Culpeper 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 Culpeper, Virginia
Property taxes in Culpeper, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Culpeper is 0.72%, lower than both the Virginia state median of 0.82% and the U.S. national median of 0.99%. Local government entities within Culpeper set these rates annually, and they can vary significantly across different neighborhoods. Each year, Culpeper 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 Culpeper's effective property tax rate to other counties in Virginia and the national median. For comparison, the 22701 zip code has the highest median property tax rate of 0.72%, while the same zip code also has the lowest median tax rate of 0.72%. Understanding how these cities compare with Culpeper 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 Culpeper Tax Rate
0.76%
Average Orange County Tax Rate
0.76%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Culpeper, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22701 | 0.75% | 0.75% | 0.76% | 0.79% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Culpeper, Virginia
In Culpeper, 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 county's 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 Culpeper, 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 Culpeper helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill in Culpeper is 22701, with a median tax bill of $1,829, which is significantly below the national median property tax rate of 0.99%.
Average Culpeper Assessed Value
$237,500
Average Orange County Assessed Value
$231,900
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Culpeper, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22701 | $143,570 | $176,575 | $237,500 | $340,275 | $513,230 |
Source: Ownwell
Property Tax Bills Across Culpeper, Virginia
In Culpeper, VA, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors. The assessed value is then multiplied by the local tax rate to determine the tax bill. The median home price in Culpeper is $237,500, and the property tax rate is applied to this value to calculate the tax owed. Factors such as property location, size, and improvements can influence the assessed value. Homeowners in Culpeper can expect a range of tax bills, with the 25th percentile at $1,410 and the 75th percentile at $2,644, reflecting the variations in property values and assessments. The highest median tax bill in the area is $1,829, which aligns with the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their annual property tax obligations and manage their finances accordingly.
Average Culpeper Tax Bill
$1,829
Average Orange County Tax Bill
$1,781
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Culpeper, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22701 | $1,096 | $1,410 | $1,829 | $2,644 | $4,115 |
Source: Ownwell