Waynesboro, Virginia Property Taxes
The median property tax rate in Waynesboro, VA is 0.63%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Waynesboro at $217,550, the typical annual property tax bill amounts to $1,340, which is well below the national median of $2,690. Property taxes in Waynesboro are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Waynesboro'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 Waynesboro 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
Waynesboro, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$1,371
$1,272
Ownwell’s Waynesboro Property Tax Bill Calculator is an essential tool for any homeowner, real estate investor, or potential property buyer aiming to estimate their annual property taxes in Waynesboro. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Waynesboro to provide an accurate estimate of your property tax bill. This valuable tool helps you anticipate potential tax liabilities, offering peace of mind and financial clarity. For those interested in more detailed trends at a neighborhood level, additional localized information is available below. Your property’s assessed value is determined by Augusta County and reflects any applicable exemptions, ensuring a precise calculation for your property tax obligations.
Property Tax Rates Across Waynesboro, Virginia
Property taxes in Waynesboro, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waynesboro is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Waynesboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waynesboro 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 Waynesboro's effective property tax rate to other regions in Virginia and the national median. For comparison, the zip code 22980 has both the highest and lowest median property tax rate of 0.63%. Understanding how Waynesboro compares with other areas provides valuable insights into the varying tax landscape across Augusta County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Waynesboro Tax Rate
0.63%
Average Augusta County Tax Rate
0.63%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waynesboro, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22980 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Waynesboro, Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Waynesboro, VA. 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 Augusta 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 Waynesboro, 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. For instance, the median home price in Waynesboro is $217,550, with tax bills ranging from $973 at the 25th percentile to $2,402 at the 90th percentile. The zip code 22980 has both the highest and lowest median tax bills at $1,340. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Waynesboro Assessed Value
$217,550
Average Augusta County Assessed Value
$204,500
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Waynesboro, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22980 | $111,675 | $156,700 | $217,550 | $296,483 | $399,660 |
Source: Ownwell
Property Tax Bills Across Waynesboro, Virginia
In Waynesboro, VA, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. This assessed value is then multiplied by the local tax rate to produce the annual tax bill. For example, with a median home price of $217,550, homeowners can expect a tax bill that varies significantly. The 25th percentile tax bill is around $973, while the 75th percentile reaches $1,816, and the 90th percentile can be as high as $2,402. These figures illustrate the range homeowners might face, depending on the assessed value of their property and any applicable exemptions or deductions. Factors such as property size, location, and improvements can influence the assessed value, thereby impacting the tax bill. With the national median property tax rate at 0.99%, Waynesboro's rates offer a comparative perspective for homeowners. Understanding these factors helps homeowners anticipate their financial obligations and manage their budgets effectively.
Average Waynesboro Tax Bill
$1,340
Average Augusta County Tax Bill
$1,250
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Waynesboro, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22980 | $674 | $973 | $1,340 | $1,816 | $2,402 |
Source: Ownwell