Caroline County, Virginia Property Taxes
The median property tax rate in Caroline County is 0.77%, which is lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $198,200 in Caroline County, the typical annual property tax bill is around $1,559, significantly below the national median of $2,690. Property taxes in Caroline County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Caroline County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Bowling Green or another part of Caroline County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Caroline County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$1,526
$1,416
Ownwell’s Caroline Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Caroline with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Caroline to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Caroline County, Virginia
Property taxes in Caroline County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Caroline County is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Caroline County set these rates annually, and they can vary significantly between different areas within the county. Each year, Caroline County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Caroline County's effective property tax rate with other counties in Virginia and the national median. For comparison, the city of Beaverdam has one of the higher property tax rates in Virginia at 0.77%, while the city of Beaverdam also boasts one of the lowest at 0.77%. Analyzing how Caroline County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Caroline County Tax Rate
0.77%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Caroline County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Beaverdam | 0.77% | 0.77% | 0.77% | 0.77% | 0.77% |
| Bowling Green | 0.77% | 0.77% | 0.77% | 0.77% | 0.77% |
| Caret | N/A | N/A | N/A | N/A | N/A |
| Champlain | 0.77% | 0.77% | 0.77% | 0.77% | 0.77% |
| Corbin | N/A | N/A | N/A | N/A | N/A |
| Doswell | 0.77% | 0.77% | 0.77% | 0.77% | 0.77% |
| Fort Walker | N/A | N/A | N/A | N/A | N/A |
| Fredericksburg | 0.77% | 0.77% | 0.77% | 0.77% | 0.77% |
| Hanover | 0.77% | 0.77% | 0.77% | 0.77% | 0.77% |
| Milford | 0.77% | 0.77% | 0.77% | 0.77% | 0.77% |
| Port Royal | 0.77% | 0.77% | 0.77% | 0.77% | 0.77% |
| Rappahannock Academy | 0.77% | 0.77% | 0.77% | 0.77% | 0.77% |
| Ruther Glen | 0.77% | 0.77% | 0.77% | 0.77% | 0.77% |
| Woodford | 0.77% | 0.77% | 0.77% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Caroline County, Virginia
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Caroline. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Caroline Appraisal District. The assessed value, however, 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. Assessment notices in Caroline are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For example, Corbin has the highest median tax bill at $5,874, while Caret has the lowest at $1,317. Being aware of these valuation processes in Caroline will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Caroline County, Virginia
Source: Ownwell
$174,850
$213,300
$251,750
Average Caroline County Assessed Value
$198,200
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Caroline County, Virginia
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Beaverdam | $107,950 | $153,300 | $209,500 | $279,050 | $405,260 |
| Bowling Green | $101,380 | $143,050 | $216,600 | $290,500 | $359,200 |
| Caret | N/A | N/A | N/A | N/A | N/A |
| Champlain | $57,100 | $107,100 | $185,200 | $218,700 | $275,800 |
| Corbin | N/A | N/A | N/A | N/A | N/A |
| Doswell | $94,910 | $125,575 | $177,600 | $267,825 | $342,250 |
| Fort Walker | N/A | N/A | N/A | N/A | N/A |
| Fredericksburg | $117,350 | $170,275 | $251,750 | $332,725 | $529,800 |
| Hanover | $96,120 | $130,850 | $188,200 | $250,550 | $317,620 |
| Milford | $90,040 | $126,500 | $182,150 | $259,000 | $376,180 |
| Port Royal | $106,400 | $157,500 | $229,500 | $370,500 | $587,500 |
| Rappahannock Academy | $52,350 | $113,225 | $174,850 | $276,775 | $437,700 |
| Ruther Glen | $94,200 | $150,425 | $198,650 | $261,875 | $331,800 |
| Woodford | $99,020 | $137,000 | $191,100 | $271,300 | $368,700 |
Source: Ownwell
Property Tax Bills Across Caroline County, Virginia
In Caroline County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Various factors influence the assessed value, including the home's market value, location, size, and condition. For homeowners in Caroline County, the median home price is $198,200. Property tax bills can vary significantly, with the 25th percentile tax bill at $1,169, the 75th percentile at $2,106, and the 90th percentile reaching $2,714. These figures indicate that while some homeowners pay relatively low taxes, others face higher bills depending on their property's assessed value and specific circumstances. Comparatively, the median property tax rate in Caroline County is lower than the national median of 0.99%, making it a more affordable area for property taxes. However, homeowners should be aware of the potential variability in their tax bills and plan accordingly.
Average Caroline County Tax Bill
$1,559
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Caroline County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Beaverdam | $831 | $1,180 | $1,613 | $2,149 | $3,121 |
| Bowling Green | $830 | $1,126 | $1,700 | $2,246 | $2,773 |
| Caret | N/A | N/A | N/A | N/A | N/A |
| Champlain | $440 | $825 | $1,426 | $1,684 | $2,124 |
| Corbin | N/A | N/A | N/A | N/A | N/A |
| Doswell | $731 | $967 | $1,368 | $2,062 | $2,635 |
| Fort Walker | N/A | N/A | N/A | N/A | N/A |
| Fredericksburg | $936 | $1,313 | $1,940 | $2,567 | $4,162 |
| Hanover | $739 | $1,006 | $1,449 | $1,926 | $2,422 |
| Milford | $693 | $974 | $1,403 | $1,994 | $2,897 |
| Port Royal | $848 | $1,216 | $1,779 | $2,915 | $4,542 |
| Rappahannock Academy | $495 | $909 | $1,466 | $2,149 | $3,393 |
| Ruther Glen | $979 | $1,232 | $1,582 | $2,062 | $2,580 |
| Woodford | $762 | $1,055 | $1,471 | $2,086 | $2,835 |
Source: Ownwell