Arrington, Virginia Property Taxes
The median property tax rate in Arrington, VA is 0.61%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $78,900 in Arrington, the typical annual property tax bill is $419, well below the national median of $2,690. Property taxes in Arrington 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 Arrington'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 Arrington 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
Arrington, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$481
$447
Ownwell’s Arrington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Arrington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Arrington 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 Arrington, Virginia
Property taxes in Arrington, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Arrington is 0.61%, which is lower than the U.S. national median of 0.99%. Local government entities within Arrington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Arrington 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 Arrington's effective property tax rate to other areas in Virginia and the national median. For comparison, the zip code 22922 has the highest median property tax rate of 0.61%, while the same zip code also has the lowest median tax rate of 0.61%. Understanding how these cities compare with Arrington provides valuable insights into the varying tax landscape across Amherst County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Arrington Tax Rate
0.61%
Average Amherst County Tax Rate
0.61%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Arrington, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22922 | 0.39% | 0.61% | 0.61% | 0.61% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Arrington, Virginia
In Arrington, 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 Amherst 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 Arrington, 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 Arrington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Arrington is $78,900, with tax bills ranging from $237 at the 25th percentile to $1,140 at the 90th percentile. The highest and lowest median tax bills are both $419 in zip code 22922.
Average Arrington Assessed Value
$78,900
Average Amherst County Assessed Value
$130,550
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Arrington, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22922 | $26,120 | $40,700 | $78,900 | $144,550 | $186,870 |
Source: Ownwell
Property Tax Bills Across Arrington, Virginia
In Arrington, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For instance, with a median home price of $78,900, homeowners can expect varying tax bills depending on their property's specific assessed value and the applicable tax rate. Several factors influence the assessed value, including the property's location, size, and condition. The tax bill can range significantly, with the 25th percentile at around $237 and the 75th percentile reaching up to $882. At the 90th percentile, homeowners might see bills as high as $1,140. These property taxes fund essential local services such as schools, public safety, and infrastructure. For homeowners, understanding these factors is crucial as they directly impact annual expenses and the overall cost of homeownership in Arrington. Compared to the national median property tax rate of 0.99%, Arrington's rates offer a point of comparison for prospective homeowners evaluating their financial commitments.
Average Arrington Tax Bill
$419
Average Amherst County Tax Bill
$778
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Arrington, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22922 | $146 | $237 | $419 | $882 | $1,140 |
Source: Ownwell