Casanova, Virginia Property Taxes
The median property tax rate in Casanova, VA is 0.91%, slightly lower than the national median of 0.99% but higher than the Virginia state median of 0.89%. With the median home value in Casanova at $591,900, the typical annual property tax bill reaches $5,358, significantly surpassing the national median of $2,690. Property taxes in Casanova are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Casanova'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 Casanova 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
Casanova, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$5,386
Ownwell’s Casanova Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Casanova with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Casanova 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 Casanova, Virginia
Property taxes in Casanova, Virginia, play a critical role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Casanova is 0.91%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Casanova set these rates annually, and they can vary significantly across different neighborhoods. Each year, Casanova 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 Casanova's effective property tax rate to other areas in Virginia and the national median. For comparison, the zip code 20139 has the highest median property tax rate of 0.91%, while the same zip code also has the lowest median tax rate of 0.91%. Understanding how these cities compare with Casanova provides valuable insights into the varying tax landscape across Fauquier County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Casanova Tax Rate
0.91%
Average Fauquier County Tax Rate
0.91%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Casanova, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20139 | 0.84% | 0.88% | 0.91% | 0.91% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Casanova, Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Casanova, 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 Fauquier 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 Casanova, 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. Casanova's median home price stands at $591,900, with tax bills ranging from $4,565 at the 25th percentile to $6,294 at the 75th percentile. Notably, the zip code 20139 has both the highest and lowest median tax bill at $5,358. 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 Casanova helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Casanova Assessed Value
$591,900
Average Fauquier County Assessed Value
$435,300
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Casanova, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20139 | $464,290 | $504,025 | $591,900 | $717,175 | $824,230 |
Source: Ownwell
Property Tax Bills Across Casanova, Virginia
In Casanova, located in Fauquier County, VA, property tax bills are calculated based on the assessed value of a home and the applicable tax rate. The median home price in Casanova is $591,900. Homeowners' tax bills are determined by multiplying the assessed value of their property by the local tax rate. Several factors influence the assessed value, including the property's size, location, and condition. For example, homeowners in the 25th percentile can expect a tax bill around $4,565, while those in the 75th percentile might see a bill closer to $6,294. At the 90th percentile, tax bills can reach approximately $6,908. These variations depend on the specific characteristics and location of the property within Casanova. Comparatively, the national median property tax rate is 0.99%, highlighting how local rates and property values significantly impact tax bills. For homeowners, understanding these factors is crucial for financial planning and managing annual expenses.
Average Casanova Tax Bill
$5,358
Average Fauquier County Tax Bill
$3,881
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Casanova, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20139 | $4,206 | $4,565 | $5,358 | $6,294 | $6,908 |
Source: Ownwell