Gordonsville, Virginia Property Taxes
The median property tax rate in Gordonsville, 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 $183,600 in Gordonsville, the typical annual property tax bill reaches $1,417, significantly below the national median of $2,690. Property taxes in Gordonsville are calculated based on the tax assessed value, often lower than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Gordonsville'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 Gordonsville 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
Gordonsville, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$1,395
Ownwell’s Gordonsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gordonsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gordonsville 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 Gordonsville, Virginia
Property taxes in Gordonsville, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gordonsville is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Gordonsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gordonsville 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. Understanding how Gordonsville's effective property tax rate compares to other areas provides valuable insights into the varying tax landscape across Orange County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gordonsville 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 Gordonsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22942 | 0.75% | 0.75% | 0.76% | 0.78% | 0.82% |
Source: Ownwell
Property Tax Assessment Values Across Gordonsville, Virginia
In Gordonsville, 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 Orange 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 Gordonsville, 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. The median home price in Gordonsville is $183,600, with tax bills ranging from $986 at the 25th percentile to $2,096 at the 75th percentile. The highest and lowest median tax bills are both $1,417 in the 22942 zip code. Being aware of these valuation processes in Gordonsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Gordonsville Assessed Value
$183,600
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 Gordonsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22942 | $55,960 | $128,850 | $183,600 | $265,700 | $374,280 |
Source: Ownwell
Property Tax Bills Across Gordonsville, Virginia
In Gordonsville, located in Orange County, VA, property tax bills are determined based on the assessed value of a home and the local tax rate. The median home price in Gordonsville is $183,600. To calculate the tax bill, the assessed value of the property is multiplied by the local tax rate set by the county. For example, homes in the 25th percentile have tax bills around $986, while those in the 75th percentile face bills closer to $2,096. At the 90th percentile, homeowners can expect a tax bill of approximately $3,015. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Gordonsville pay property taxes that help fund local services like schools, infrastructure, and emergency services. Compared to the national median property tax rate of 0.99%, the specific rates in Gordonsville can vary, impacting the overall affordability and financial planning for homeowners. Understanding these factors is crucial for homeowners to manage their expenses effectively.
Average Gordonsville Tax Bill
$1,417
Average Orange County Tax Bill
$1,781
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Gordonsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22942 | $422 | $986 | $1,417 | $2,096 | $3,015 |
Source: Ownwell