Rhoadesville, Virginia Property Taxes
The median property tax rate in Rhoadesville, VA is 0.76%, notably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Rhoadesville at $230,900, the typical annual property tax bill reaches $1,772, which is below the national median of $2,690. Property taxes in Rhoadesville are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Rhoadesville'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 Rhoadesville 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
Rhoadesville, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$1,755
Ownwell’s Rhoadesville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rhoadesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rhoadesville 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 Rhoadesville, Virginia
Property taxes in Rhoadesville, Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rhoadesville is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Rhoadesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rhoadesville 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 Rhoadesville's effective property tax rate to other areas and the national median. For comparison, the zip code 22542 has the same median property tax rate of 0.76%. Understanding how these rates compare with Rhoadesville 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 Rhoadesville 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 Rhoadesville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22542 | 0.75% | 0.75% | 0.76% | 0.80% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Rhoadesville, Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Rhoadesville, Virginia. 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 Rhoadesville, 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Rhoadesville is $1772 in the 22542 zip code, while the lowest median tax bill is also $1772 in the same zip code.
Average Rhoadesville Assessed Value
$230,900
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 Rhoadesville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22542 | $127,820 | $174,200 | $230,900 | $299,300 | $379,120 |
Source: Ownwell
Property Tax Bills Across Rhoadesville, Virginia
In Rhoadesville, VA, property tax bills are determined based on the assessed value of a homeowner's property. The assessment is conducted annually and reflects the market value of the property. The tax rate, set by local authorities, is then applied to this assessed value to calculate the tax bill. For homeowners in Rhoadesville, the median home price is $230,900. Property tax bills can vary significantly, with the 25th percentile at $1,357 and the 75th percentile reaching $2,341. At the 90th percentile, homeowners can expect to pay up to $2,956. These figures highlight the range of property tax burdens that residents may face, depending on their property's assessed value and the corresponding tax rate. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for understanding local tax rates. Homeowners in Rhoadesville should be aware of these factors as they significantly impact their annual financial planning and overall cost of homeownership.
Average Rhoadesville Tax Bill
$1,772
Average Orange County Tax Bill
$1,781
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Rhoadesville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22542 | $983 | $1,357 | $1,772 | $2,341 | $2,956 |
Source: Ownwell