Fredericksburg, Culpeper County, Virginia Property Taxes
The median property tax rate in Fredericksburg, VA is 0.46%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Fredericksburg at $550,700, the typical annual property tax bill reaches $2,515, which is below the national median of $2,690. Property taxes in Fredericksburg 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 Fredericksburg'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 Fredericksburg 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
Fredericksburg, Culpeper County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.46%
Estimate Property Tax Bill
$2,533
$2,351
Ownwell’s Fredericksburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fredericksburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fredericksburg 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 Fredericksburg, Culpeper County, Virginia
Property taxes in Fredericksburg, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fredericksburg is 0.46%, which is significantly lower than both the Virginia state median of 0.80% and the U.S. national median of 0.99%. Local government entities within Fredericksburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fredericksburg 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 Fredericksburg's effective property tax rate to other counties in Virginia and the national median. For comparison, the 22407 zip code has the highest median property tax rate of 0.46%, while the 22407 zip code also has the lowest median tax rate of 0.46%. Understanding how these cities compare with Fredericksburg provides valuable insights into the varying tax landscape across Culpeper County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fredericksburg Tax Rate
0.46%
Average Culpeper County Tax Rate
0.46%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fredericksburg, Culpeper County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22407 | 0.46% | 0.46% | 0.46% | 0.46% | 0.46% |
Source: Ownwell
Property Tax Assessment Values Across Fredericksburg, Culpeper County, Virginia
In Fredericksburg, 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 Culpeper 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 Fredericksburg, 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 Fredericksburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 22407, with a median bill of $2,515.
Property Tax Assessment Values Across Fredericksburg, Culpeper County, Virginia
Source: Ownwell
$281,200
$417,350
$553,500
Average Fredericksburg Assessed Value
$550,700
Average Culpeper County Assessed Value
$394,900
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fredericksburg, Culpeper County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22407 | $318,460 | $357,275 | $550,700 | $823,225 | $941,700 |
Source: Ownwell
Property Tax Bills Across Fredericksburg, Culpeper County, Virginia
In Fredericksburg, VA, property tax bills are calculated based on the assessed value of the property, which is determined by local assessors. 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 $550,700, homeowners can expect tax bills to vary significantly. In Fredericksburg, the tax bill at the 25th percentile is around $1,467, while at the 75th percentile, it rises to approximately $3,793. The highest tax bills, at the 90th percentile, can reach up to $4,363. Several factors influence these amounts, including property size, location, and market conditions. Homes in zip code 22407, for instance, consistently show a median tax bill of $2,515. This variability in tax bills can significantly impact homeowners, affecting their overall housing costs and financial planning. Compared to the national median property tax rate of 0.99%, Fredericksburg's rates reflect the region's unique real estate market and valuation methods.
Property Tax Bills Across Fredericksburg, Culpeper County, Virginia
Source: Ownwell
$1,315
$2,041
$2,767
Average Fredericksburg Tax Bill
$2,515
Average Culpeper County Tax Bill
$1,772
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Fredericksburg, Culpeper County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22407 | $1,403 | $1,467 | $2,515 | $3,793 | $4,363 |
Source: Ownwell