Mitchells, Virginia Property Taxes
The median property tax rate in Mitchells, VA is 0.46%, considerably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Mitchells at $281,200, the typical annual property tax bill reaches $1,315, significantly below the national median of $2,690. Property taxes in Mitchells are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Mitchells' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Mitchells 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
Mitchells, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.46%
Estimate Property Tax Bill
$1,294
Ownwell’s Mitchells Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Mitchells with just two simple data points. By inputting your property's estimated assessed value, the calculator uses the median tax rate in Mitchells to provide an accurate property tax estimate. This tool offers a clear understanding of potential tax liabilities, making it easier to plan your finances. For those interested in more localized data, additional trends and insights are available below. Your property’s assessed value is determined by the county and includes any applicable exemptions, ensuring you get the most accurate estimate possible.
Property Tax Rates Across Mitchells, Virginia
Property taxes in Mitchells, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mitchells is 0.46%, lower than both the Virginia state median of 0.80% and the U.S. national median of 0.99%. Local government entities within Mitchells set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mitchells 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 Mitchells' effective property tax rate to other counties in Virginia and the national median. For comparison, the 22729 zip code has the highest median property tax rate of 0.46%, while the same 22729 zip code also has the lowest median tax rate of 0.46%. Understanding how these cities compare with Mitchells 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 Mitchells Tax Rate
0.46%
Average Culpeper County Tax Rate
0.46%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mitchells, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22729 | 0.34% | 0.44% | 0.46% | 0.46% | 0.46% |
Source: Ownwell
Property Tax Assessment Values Across Mitchells, Virginia
In Mitchells, 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 Culpeper County Assessor's 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 Mitchells, 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 Mitchells helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Mitchells is $1,315 in the 22729 zip code, while the lowest median tax bill is also $1,315 in the same zip code.
Average Mitchells Assessed Value
$281,200
Average Culpeper County Assessed Value
$394,900
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mitchells, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22729 | $150,660 | $225,200 | $281,200 | $407,600 | $560,740 |
Source: Ownwell
Property Tax Bills Across Mitchells, Virginia
In Mitchells, VA, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor, who evaluates the property's market value. The tax rate, set by the local government, is then applied to this assessed value to calculate the annual tax bill. For example, with a median home price of $281,200, homeowners can expect their tax bills to vary significantly. The 25th percentile tax bill is $1,064, while the 75th percentile reaches $1,841, and the 90th percentile goes up to $2,318. These figures highlight the range of property tax burdens within the area. Compared to the national median property tax rate of 0.99%, Mitchells offers a relatively moderate tax environment. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly. The highest and lowest median tax bills in the region are both $1,315, providing a consistent benchmark for comparison.
Average Mitchells Tax Bill
$1,315
Average Culpeper County Tax Bill
$1,772
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Mitchells, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22729 | $529 | $1,064 | $1,315 | $1,841 | $2,318 |
Source: Ownwell