Hillsboro, Virginia Property Taxes
The median property tax rate in Hillsboro, VA is 0.88%, slightly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $804,280 in Hillsboro, the typical annual property tax bill reaches $6,604, significantly exceeding the national median of $2,690. Property taxes in Hillsboro are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Hillsboro's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Hillsboro or another part of Loudoun County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hillsboro, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$7,078
Ownwell’s Hillsboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hillsboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hillsboro 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 Hillsboro, Virginia
Property taxes in Hillsboro, Virginia, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Hillsboro is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities in Hillsboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hillsboro 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 Hillsboro's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 20132 in Loudoun County has the highest median property tax rate of 0.88%, while the same zip code also has the lowest median tax rate of 0.88%. Understanding how these cities compare with Hillsboro provides valuable insights into the varying tax landscape across Loudoun County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hillsboro Tax Rate
0.88%
Average Loudoun County Tax Rate
0.88%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hillsboro, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20132 | 0.69% | 0.84% | 0.88% | 0.88% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Hillsboro, Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hillsboro, 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 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 Hillsboro, 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. The median home price in Hillsboro is $804,280, with tax bills ranging from $4,983 at the 25th percentile to $9,751 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Hillsboro, Virginia
Source: Ownwell
$444,410
$1,026,460
$1,608,510
Average Hillsboro Assessed Value
$804,280
Average Loudoun County Assessed Value
$662,650
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hillsboro, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20132 | $459,456 | $610,840 | $804,280 | $978,495 | $1,228,630 |
Source: Ownwell
Property Tax Bills Across Hillsboro, Virginia
In Hillsboro, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the property tax rate set by Loudoun County. Homeowners in Hillsboro experience a range of property tax bills. For instance, the tax bill at the 25th percentile is around $4,983, while at the 75th percentile, it rises to approximately $8,137. At the 90th percentile, homeowners can expect a tax bill nearing $9,751. These figures highlight the variability in property tax obligations, influenced by factors such as property size, location, and market conditions. For comparison, the national median property tax rate is 0.99%, making Hillsboro's property taxes relatively significant. Homeowners must account for these taxes in their annual budgets, impacting their overall financial planning and property affordability. Understanding these factors can help residents better anticipate their fiscal responsibilities.
Average Hillsboro Tax Bill
$6,604
Average Loudoun County Tax Bill
$5,811
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Hillsboro, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20132 | $3,785 | $4,983 | $6,604 | $8,137 | $9,751 |
Source: Ownwell