Marshall, Virginia Property Taxes
The median property tax rate in Marshall, VA is 0.91%, slightly lower than the national median of 0.99% but higher than the Virginia state median of 0.89%. With the median home value in Marshall at $430,100, the typical annual property tax bill reaches $3,718, surpassing the national median of $2,690. Property taxes in Marshall 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 Marshall'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 Marshall or another part of Fauquier County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Marshall, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$3,914
Ownwell’s Marshall Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Marshall with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Marshall 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 Marshall, Virginia
Property taxes in Marshall, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Marshall is 0.91%, lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Marshall set these rates annually, and they can vary significantly across different neighborhoods. Each year, Marshall 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 Marshall's effective property tax rate to other counties in Virginia and the national median. For comparison, the 20115 zip code has the highest median property tax rate of 0.91%, while the lowest median tax rate is also 0.91%. Understanding how these cities compare with Marshall provides valuable insights into the varying tax landscape across Fauquier County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Marshall Tax Rate
0.91%
Average Fauquier County Tax Rate
0.91%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Marshall, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20115 | 0.62% | 0.90% | 0.91% | 0.93% | 0.94% |
Source: Ownwell
Property Tax Assessment Values Across Marshall, Virginia
In Marshall, 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 Fauquier 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 Marshall, 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. The zip code 20115 has the highest median tax bill at $3,718, while the lowest median tax bill is also in zip code 20115 at $3,718. Being aware of these valuation processes in Marshall helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Marshall Assessed Value
$430,100
Average Fauquier County Assessed Value
$435,300
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Marshall, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20115 | $16,080 | $208,900 | $430,100 | $632,900 | $897,800 |
Source: Ownwell
Property Tax Bills Across Marshall, Virginia
In Marshall, located in Fauquier County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the county's tax assessor. This assessed value is then multiplied by the local property tax rate to calculate the annual tax bill. For homeowners in Marshall, the median home price stands at $430,100. The property tax rate in Marshall can significantly impact the annual tax bill. For instance, the tax bill at the 25th percentile is $1,819, while at the 75th percentile, it rises to $5,548. At the 90th percentile, homeowners can expect to pay up to $7,432. These figures highlight the range of property tax burdens that residents might face. Compared to the national median property tax rate of 0.99%, the tax bills in Marshall reflect the local economic conditions and property values, impacting homeowners' financial planning and overall cost of living.
Average Marshall Tax Bill
$3,718
Average Fauquier County Tax Bill
$3,881
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Marshall, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20115 | $60 | $1,819 | $3,718 | $5,548 | $7,432 |
Source: Ownwell