Fries, Carroll County, Virginia Property Taxes
The median property tax rate in Fries, VA is 0.59%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value in Fries of $62,200, the typical annual property tax bill is around $367, well below the national median of $2,690. Property taxes in Fries are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Fries' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Fries or another part of Carroll County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fries, Carroll County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$367
$341
Ownwell’s Fries Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fries with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fries 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 Fries, Carroll County, Virginia
Property taxes in Fries, Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fries is 0.59%, significantly lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Fries set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fries 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 Fries' effective property tax rate to other counties in Virginia and the national median. For comparison, the 24330 zip code has the highest median property tax rate of 0.59%, while the 24330 zip code also has the lowest median tax rate of 0.59%. Understanding how these cities compare with Fries provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fries Tax Rate
0.59%
Average Carroll County Tax Rate
0.59%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fries, Carroll County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24330 | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Fries, Carroll County, Virginia
In Fries, 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 Carroll 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 Fries, 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 Fries helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Fries are both $367.00, found in the 24330 zip code.
Property Tax Assessment Values Across Fries, Carroll County, Virginia
Source: Ownwell
$51,750
$101,350
$150,950
Average Fries Assessed Value
$62,200
Average Carroll County Assessed Value
$88,700
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fries, Carroll County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24330 | $16,500 | $36,900 | $62,200 | $94,950 | $140,520 |
Source: Ownwell
Property Tax Bills Across Fries, Carroll County, Virginia
In Fries, Carroll County, VA, property tax bills are calculated based on the assessed value of a home, which differs from the market value. The local tax rate is applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $62,200, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is around $216, while at the 75th percentile, it rises to approximately $555. The highest tax bills, at the 90th percentile, reach up to $829. These figures show a range of what homeowners might pay, influenced by the assessed value of their property and the local tax rate. Compared to the national median property tax rate of 0.99%, Fries offers relatively moderate property tax bills, affecting homeowners by providing a predictable yet manageable annual expense. This system ensures that property taxes are fairly distributed based on property values, supporting local services and infrastructure.
Average Fries Tax Bill
$367
Average Carroll County Tax Bill
$526
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Fries, Carroll County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24330 | $95 | $216 | $367 | $555 | $829 |
Source: Ownwell