Stafford, Virginia Property Taxes
The median property tax rate in Stafford, VA is 0.91%, slightly below the national median of 0.99% but higher than the Virginia state median of 0.89%. With a median home value of $449,950 in Stafford, the typical annual property tax bill reaches $4,025, significantly exceeding the national median of $2,690. Property taxes in Stafford 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 Stafford'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 Stafford 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
Stafford, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$4,095
Ownwell’s Stafford Property Tax Bill Calculator assists homeowners, real estate investors, and prospective buyers in estimating their annual property taxes in Stafford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stafford to estimate your property tax bill. This valuable 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 Stafford, Virginia
Property taxes in Stafford, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stafford is 0.91%, slightly below the U.S. national median of 0.99%. Local government entities within Stafford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stafford 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 Stafford's effective property tax rate to other counties in Virginia and the national median. For comparison, the 22556 zip code 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 areas compare with Stafford 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 Stafford 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 Stafford, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22556 | 0.90% | 0.91% | 0.91% | 0.91% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Stafford, Virginia
In Stafford, 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 local appraisal authorities 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 Stafford, 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 Stafford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Stafford is $449,950. The zip code with the highest median tax bill is 22556, with a median tax bill of $4,025. Similarly, the zip code with the lowest median tax bill is also 22556, with a median tax bill of $4,025. Understanding these figures can help homeowners in Stafford better anticipate and manage their property tax obligations.
Average Stafford Assessed Value
$449,950
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 Stafford, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22556 | $356,250 | $388,900 | $449,950 | $510,075 | $552,130 |
Source: Ownwell
Property Tax Bills Across Stafford, Virginia
In Stafford, VA, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Stafford, the median home price is $449,950. The property tax rate in Stafford results in a median tax bill of $4,025, which is higher than the national median property tax rate of 0.99%. Homeowners in Stafford can expect their tax bills to vary depending on the value of their property. For example, the 25th percentile tax bill is $3,474, while the 75th percentile reaches $4,620. At the 90th percentile, the tax bill can go up to $4,999. These variations are due to differences in property values and any applicable exemptions or assessments. Higher property taxes can impact homeowners by increasing the overall cost of homeownership, affecting affordability and financial planning.
Average Stafford Tax Bill
$4,025
Average Fauquier County Tax Bill
$3,881
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Stafford, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22556 | $2,299 | $3,474 | $4,025 | $4,620 | $4,999 |
Source: Ownwell