Renton, Virginia Property Taxes
The median property tax rate in Renton, VA is 1.19%, considerably higher than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Renton, the typical annual property tax bill reaches $2,940, exceeding the national median of $2,690. Property taxes in Renton are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Renton'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 Renton 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
Renton, Virginia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$1,780
Ownwell’s Renton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Renton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Renton 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 Renton, Virginia
Property taxes in Renton, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Renton is 1.19%, higher than both the Virginia state median of 0.80% and the U.S. national median of 0.99%. Local government entities within Renton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Renton 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 Renton's effective property tax rate to other counties in Virginia and the national median. For comparison, the 98059 zip code has the highest median property tax rate of 1.19%, while the same zip code also has the lowest median tax rate of 1.19%. Understanding how these cities compare with Renton provides valuable insights into the varying tax landscape across Fairfax County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Renton Tax Rate
1.19%
Average Fairfax County Tax Rate
1.14%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Renton, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98059 | 1.19% | 1.19% | 1.19% | 1.19% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Renton, Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Renton, Virginia. 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 Fairfax 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 Renton, 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. For instance, the median home price in Renton stands at $246,920, with the highest and lowest median tax bills both at $2,940 in the 98059 zip code. 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 Renton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Renton Assessed Value
$246,920
Average Fairfax County Assessed Value
$616,950
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Renton, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98059 | $246,920 | $246,920 | $246,920 | $246,920 | $246,920 |
Source: Ownwell
Property Tax Bills Across Renton, Virginia
In Renton, Fairfax County, VA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property’s market value. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual property tax bill. For homeowners in Renton, the median home price is $246,920, and the property tax rate is applied uniformly. The typical tax bill in this region is $2,940, which aligns with the 25th, 75th, and 90th percentiles, indicating a consistent tax burden across different property values. This amount is significantly higher than the national median property tax rate of 0.99%, reflecting the region's higher property values and tax rate. For homeowners, this means that property taxes represent a considerable portion of annual expenses, potentially impacting decisions on home purchases and financial planning. The uniformity in tax bills also suggests a stable and predictable tax environment for residents.
Average Renton Tax Bill
$2,940
Average Fairfax County Tax Bill
$7,154
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Renton, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98059 | $2,940 | $2,940 | $2,940 | $2,940 | $2,940 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Tax Bill | |
| Issued | October 1 |
| Due Date #1 | June 6 |
| Due Date #2 | December 5 |
Links | |
|---|---|
| Fairfax Tax Assessor | |
| realestateoffice@fairfaxva.gov. | |