Middleburg, Virginia Property Taxes
The median property tax rate in Middleburg, VA is 0.90%, slightly below the national median of 0.99% but just above Virginia's state median of 0.89%. With the median home value in Middleburg at $664,000, the typical annual property tax bill reaches $5,657, significantly higher than the national median of $2,690. Property taxes in Middleburg are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Middleburg'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 Middleburg 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
Middleburg, 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 Middleburg Property Tax Bill Calculator helps homeowners, real estate investors, and potential buyers estimate their annual property taxes in Middleburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Middleburg to estimate your property tax bill. This insightful tool aids in understanding potential tax liabilities. For those interested in more granular insights, additional localized information is available further down the page. 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 Middleburg, Virginia
Property taxes in Middleburg, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Middleburg is 0.90%, which is lower than the U.S. national median of 0.99%. Local government entities within Middleburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Middleburg 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 Middleburg's effective property tax rate to other areas in Virginia and the national median. For comparison, the zip code 20117 has the highest median property tax rate of 0.90%, while the same zip code also has the lowest median tax rate of 0.90%. Understanding how these areas compare with Middleburg 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 Middleburg Tax Rate
0.90%
Average Fauquier County Tax Rate
0.91%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Middleburg, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20117 | 0.62% | 0.90% | 0.90% | 0.91% | 0.93% |
Source: Ownwell
Property Tax Assessment Values Across Middleburg, Virginia
In Middleburg, 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 Assessor 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 Middleburg, 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 Middleburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both found in the 20117 zip code, with a value of $5,657.
Average Middleburg Assessed Value
$664,000
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 Middleburg, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20117 | $18,000 | $393,500 | $664,000 | $1,261,350 | $2,528,000 |
Source: Ownwell
Property Tax Bills Across Middleburg, Virginia
In Middleburg, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is a percentage of the property's market value and is used to calculate the annual tax bill. Homeowners in Middleburg can expect a median home price of $664,000. Factors such as the property's location, size, and condition play a role in determining its assessed value. Tax bills in Middleburg vary significantly, with the 25th percentile at $3,255 and the 75th percentile reaching $10,235. For those in the 90th percentile, tax bills can soar to $18,464. The highest and lowest median tax bills in the area both stand at $5,657, highlighting some consistency in certain neighborhoods. Compared to the national median property tax rate of 0.99%, homeowners in Middleburg may see higher or lower tax bills depending on their property’s assessed value and specific local tax rates. This variability can significantly impact homeowners' annual financial planning and budgeting.
Average Middleburg Tax Bill
$5,657
Average Fauquier County Tax Bill
$3,881
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Middleburg, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20117 | $75 | $3,255 | $5,657 | $10,235 | $18,464 |
Source: Ownwell