Remington, Virginia Property Taxes
The median property tax rate in Remington, 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 Remington at $483,300, the typical annual property tax bill amounts to $2,111, which is below the national median of $2,690. Property taxes in Remington are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Remington's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Remington or another part of Culpeper County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Remington, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.46%
Estimate Property Tax Bill
$2,223
$2,063
Ownwell’s Remington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Remington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Remington 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 Remington, Virginia
Property taxes in Remington, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Remington is 0.46%, lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Remington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Remington 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 Remington's effective property tax rate to other counties in Virginia and the national median. For comparison, the 22734 zip code has both the highest and lowest median property tax rate of 0.46%. Understanding how these cities compare with Remington 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 Remington 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 Remington, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22734 | 0.29% | 0.42% | 0.46% | 0.46% | 0.46% |
Source: Ownwell
Property Tax Assessment Values Across Remington, Virginia
In Remington, 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 Remington, 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 Remington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 22734, with a median tax bill of $2111.
Average Remington Assessed Value
$483,300
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 Remington, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22734 | $258,880 | $361,400 | $483,300 | $654,550 | $1,037,480 |
Source: Ownwell
Property Tax Bills Across Remington, Virginia
In Remington, VA, property tax bills are calculated based on the assessed value of a home. The assessed value is a percentage of the home's market value, determined by local tax assessors. Once the assessed value is established, the tax rate set by Culpeper County is applied. For example, with a median home price of $483,300, homeowners can expect varying tax bills. The 25th percentile tax bill is around $1,610, while the 75th percentile reaches up to $2,547. At the 90th percentile, tax bills can climb to $3,559. These tax bills impact homeowners significantly, as they represent a recurring annual expense. Compared to the national median property tax rate of 0.99%, Remington's tax rates reflect the local government's funding needs for public services, schools, and infrastructure. Understanding these factors helps homeowners anticipate their financial obligations and manage their budgets more effectively.
Average Remington Tax Bill
$2,111
Average Culpeper County Tax Bill
$1,772
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Remington, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22734 | $1,149 | $1,610 | $2,111 | $2,547 | $3,559 |
Source: Ownwell