Berryville, Virginia Property Taxes
The median property tax rate in Berryville, VA is 0.60%, considerably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Berryville at $352,200, the typical annual property tax bill reaches $2,042, which is below the national median of $2,690. Property taxes in Berryville are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Berryville'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 Berryville or another part of Clarke County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Berryville, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$2,113
Ownwell’s Berryville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Berryville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Berryville 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 Berryville, Virginia
Property taxes in Berryville, Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Berryville is 0.60%, significantly lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Berryville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Berryville 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 Berryville's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 22611 has both the highest and lowest median property tax rate of 0.60%. Understanding how these cities compare with Berryville provides valuable insights into the varying tax landscape across Clarke County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Berryville Tax Rate
0.60%
Average Clarke County Tax Rate
0.60%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Berryville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22611 | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Berryville, Virginia
In Berryville, 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 Clarke County 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 Berryville, 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 Berryville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Berryville's median home price is $352,200, with median tax bills ranging from $1,361 to $3,267. The zip code with both the highest and lowest median tax bill is 22611, at $2,042.
Average Berryville Assessed Value
$352,200
Average Clarke County Assessed Value
$342,200
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Berryville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22611 | $160,550 | $227,925 | $352,200 | $459,475 | $582,600 |
Source: Ownwell
Property Tax Bills Across Berryville, Virginia
In Berryville, located in Clarke County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Berryville is $352,200. Property taxes are then derived by applying the local tax rate to this assessed value. For instance, the tax bill at the 25th percentile is $1,361, while at the 75th percentile, it rises to $2,651. The tax bill at the 90th percentile reaches up to $3,267. Several factors influence these tax bills, including property size, location, and market conditions. The highest and lowest median tax bills in Berryville are both recorded at $2,042 in the zip code 22611, indicating a relatively uniform tax rate across the area. Homeowners in Berryville should be aware that these property taxes fund essential public services such as schools, emergency services, and infrastructure. Understanding how these taxes are calculated can help homeowners anticipate their annual financial obligations and plan accordingly.
Average Berryville Tax Bill
$2,042
Average Clarke County Tax Bill
$2,002
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Berryville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22611 | $959 | $1,361 | $2,042 | $2,651 | $3,267 |
Source: Ownwell