Triangle, Virginia Property Taxes
The median property tax rate in Triangle, VA is 1.04%, notably higher than both the national median of 0.99% and Virginia's state median of 0.89%. With the median home value in Triangle at $425,100, the typical annual property tax bill reaches $4,234, significantly exceeding the national median of $2,690. Property taxes in Triangle 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 Triangle'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 Triangle or another part of Prince William County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Triangle, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$4,421
Ownwell’s Triangle Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Triangle with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Triangle 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 Triangle, Virginia
Property taxes in Triangle, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Triangle is 1.04%, higher than the U.S. national median of 0.99%. Local government entities within Triangle set these rates annually, and they can vary significantly across different neighborhoods. Each year, Triangle 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 Triangle's effective property tax rate to other areas and the national median. For comparison, the 22172 zip code has the highest median property tax rate of 1.04%, while the same zip code also has the lowest median tax rate of 1.04%. Understanding how these cities compare with Triangle provides valuable insights into the varying tax landscape across Prince William County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Triangle Tax Rate
1.04%
Average Prince William County Tax Rate
1.04%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Triangle, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22172 | 1.04% | 1.04% | 1.04% | 1.04% | 1.04% |
Source: Ownwell
Property Tax Assessment Values Across Triangle, Virginia
In Triangle, 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 Prince William 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 Triangle, 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 Triangle helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Triangle are both $4,234, with the zip code 22172 holding this value.
Average Triangle Assessed Value
$425,100
Average Prince William County Assessed Value
$464,800
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Triangle, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22172 | $236,040 | $303,050 | $425,100 | $585,650 | $664,320 |
Source: Ownwell
Property Tax Bills Across Triangle, Virginia
In Triangle, located in Prince William County, VA, property tax bills are calculated based on the assessed value of a home. The tax bill is determined by multiplying the assessed value by the local property tax rate. For homeowners in this area, the median home price is $425,100. The tax bill can vary significantly; for instance, the 25th percentile tax bill is $3,090, while the 75th percentile reaches $6,033, and the 90th percentile goes up to $6,826. These figures highlight the range of property tax burdens homeowners might face. Factors such as property size, location, and market conditions are considered in the assessment process. The highest and lowest median tax bills in the area are both $4,234, which is considerably higher than the national median property tax rate of 0.99%. This higher tax rate can impact homeowners by increasing their annual expenses, making it crucial for them to understand how their tax bill is calculated and what factors influence it.
Average Triangle Tax Bill
$4,234
Average Prince William County Tax Bill
$4,796
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Triangle, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22172 | $2,320 | $3,090 | $4,234 | $6,033 | $6,826 |
Source: Ownwell