Gordonsville, Virginia Property Taxes
The median property tax rate in Gordonsville, VA is 0.85%, which is lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Gordonsville at $397,400, the typical annual property tax bill reaches $3,055, surpassing the national median of $2,690. Property taxes in Gordonsville are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Gordonsville'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 Gordonsville 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
Gordonsville, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$3,378
Ownwell’s Gordonsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gordonsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gordonsville 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 Gordonsville, Virginia
Property taxes in Gordonsville, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gordonsville is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Gordonsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gordonsville 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 Gordonsville's effective property tax rate to other areas in Virginia and the national median. For comparison, the 22942 zip code has the highest median property tax rate of 0.85%, while the same zip code also has the lowest median tax rate of 0.85%. Understanding how these areas compare with Gordonsville provides valuable insights into the varying tax landscape across Albemarle County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gordonsville Tax Rate
0.85%
Average Albemarle County Tax Rate
0.85%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gordonsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22942 | 0.43% | 0.69% | 0.85% | 0.85% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Gordonsville, Virginia
In Gordonsville, 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 Albemarle 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 Gordonsville, 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 Gordonsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 22942 has the highest and lowest median tax bill at $3,055.
Average Gordonsville Assessed Value
$397,400
Average Albemarle County Assessed Value
$433,600
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gordonsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22942 | $158,700 | $227,300 | $397,400 | $876,650 | $1,723,260 |
Source: Ownwell
Property Tax Bills Across Gordonsville, Virginia
In Gordonsville, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is influenced by various factors, including the property's market value, location, and any improvements made to the home. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $397,400 in Gordonsville, homeowners can expect their tax bills to vary significantly. The tax bill at the 25th percentile is around $1,818, while at the 75th percentile, it rises to approximately $5,818. For those at the 90th percentile, the tax bill can reach $11,730. These figures highlight the wide range of property tax obligations homeowners may face, depending on their property's assessed value and specific circumstances. Compared to the national median property tax rate of 0.99%, Gordonsville's tax rates can result in varying financial impacts on homeowners, making it essential for them to understand their specific tax obligations and plan accordingly.
Average Gordonsville Tax Bill
$3,055
Average Albemarle County Tax Bill
$3,602
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Gordonsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22942 | $1,195 | $1,818 | $3,055 | $5,818 | $11,730 |
Source: Ownwell