Centreville, Virginia Property Taxes
The median property tax rate in Centreville, VA is 1.14%, considerably higher than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Centreville at $480,770, the typical annual property tax bill reaches $5,493, exceeding the national median of $2,690. Property taxes in Centreville 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 Centreville'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 Centreville 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
Centreville, Virginia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$1,780
Ownwell’s Centreville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Centreville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Centreville 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 Centreville, Virginia
Property taxes in Centreville, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Centreville is 1.14%, higher than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Centreville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Centreville 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 Centreville's effective property tax rate to other counties in Virginia and the national median. For comparison, the 20121 zip code has the highest median property tax rate of 1.14%, while the 23242 zip code has the lowest median tax rate of 1.14%. Understanding how these areas compare with Centreville provides valuable insights into the varying tax landscape across Fairfax County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Centreville Tax Rate
1.14%
Average Fairfax County Tax Rate
1.14%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Centreville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20120 | 1.14% | 1.14% | 1.14% | 1.14% | 1.14% |
| 20121 | 1.14% | 1.14% | 1.14% | 1.14% | 1.14% |
| 23242 | 1.14% | 1.14% | 1.14% | 1.14% | 1.14% |
Source: Ownwell
Property Tax Assessment Values Across Centreville, Virginia
In Centreville, 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 Fairfax 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. Assessment notices in Centreville 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 Centreville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Centreville, the highest median tax bill is $6,105 in zip code 20120, while the lowest is $4,437 in zip code 23242.
Property Tax Assessment Values Across Centreville, Virginia
Source: Ownwell
$26,110
$12,068,795
$24,111,480
Average Centreville Assessed Value
$480,770
Average Fairfax County Assessed Value
$616,950
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Centreville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20120 | $348,040 | $416,010 | $533,990 | $694,480 | $829,241 |
| 20121 | $252,790 | $383,730 | $437,420 | $500,905 | $692,210 |
| 23242 | $312,800 | $341,000 | $388,000 | $483,000 | $540,000 |
Source: Ownwell
Property Tax Bills Across Centreville, Virginia
Property tax bills in Centreville, situated in Fairfax County, VA, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is an estimate of the property's market value, which is periodically updated by the county assessor. Fairfax County's property tax rate is applied to this assessed value to calculate the annual tax bill. For instance, with a median home price of $480,770 in Centreville, homeowners can expect varying tax bills based on their property's specific assessed value and any applicable exemptions. Several factors influence the tax bill, including the property's location within different zip codes, which can lead to variations in median tax bills. For example, the highest median tax bill in the area is $6,105 in the 20120 zip code, while the lowest is $4,437 in the 23242 zip code. This variability affects homeowners by potentially increasing their financial obligations, especially if their property's assessed value is on the higher end of the spectrum.
Average Centreville Tax Bill
$5,493
Average Fairfax County Tax Bill
$7,154
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Centreville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20120 | $3,969 | $4,744 | $6,105 | $7,942 | $9,475 |
| 20121 | $2,891 | $4,389 | $5,002 | $5,725 | $7,916 |
| 23242 | $3,577 | $3,899 | $4,437 | $5,523 | $6,175 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | June 6 |
| Due Date #2 | December 5 |
Links | |
|---|---|
| Fairfax Tax Assessor | |
| realestateoffice@fairfaxva.gov. | |