Sperryville, Virginia Property Taxes
The median property tax rate in Sperryville, VA is 0.38%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Sperryville at $482,200, the typical annual property tax bill is $1,864, which is below the national median of $2,690. Property taxes in Sperryville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Sperryville'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 Sperryville 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
Sperryville, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.38%
Estimate Property Tax Bill
$1,832
Ownwell’s Sperryville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Sperryville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sperryville 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 Sperryville, Virginia
Property taxes in Sperryville, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sperryville is 0.38%, significantly lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Sperryville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sperryville 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 Sperryville's effective property tax rate to other counties in Virginia and the national median. For comparison, the highest median property tax rate in the state is found in 20121 with a rate of 1.17%, while the lowest median tax rate is in 20119 at 0.36%. Understanding how these cities compare with Sperryville 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 Sperryville Tax Rate
0.38%
Average Culpeper County Tax Rate
0.46%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sperryville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22740 | 0.18% | 0.30% | 0.38% | 0.46% | 0.46% |
Source: Ownwell
Property Tax Assessment Values Across Sperryville, Virginia
In Sperryville, 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 Sperryville, 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 Sperryville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Sperryville is $1,864, found in zip code 22740. The lowest median tax bill is also $1,864, indicating a uniform tax bill across the area.
Average Sperryville Assessed Value
$482,200
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 Sperryville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22740 | $274,240 | $401,475 | $482,200 | $726,525 | $868,170 |
Source: Ownwell
Property Tax Bills Across Sperryville, Virginia
In Sperryville, VA, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the home's market value, which is periodically evaluated by local authorities. For instance, with a median home price of $482,200, homeowners can expect their property tax bills to vary significantly based on their property's assessed value and the specific tax rate applied by Culpeper County. Factors such as property size, location, and any improvements made to the home can influence the assessed value. In Sperryville, property tax bills range from $1,380 at the 25th percentile to $2,952 at the 90th percentile, reflecting the diversity in property values and assessments. The median property tax bill in the 22740 zip code is $1,864, which can be compared to the national median property tax rate of 0.99%. Understanding these factors helps homeowners anticipate their annual tax obligations and budget accordingly, ensuring they are prepared for the financial responsibilities of homeownership in Sperryville.
Average Sperryville Tax Bill
$1,864
Average Culpeper County Tax Bill
$1,772
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Sperryville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22740 | $1,143 | $1,380 | $1,864 | $2,306 | $2,952 |
Source: Ownwell