Nokesville, Virginia Property Taxes
The median property tax rate in Nokesville, VA is 0.91%, slightly below the national median of 0.99% but higher than the Virginia state median of 0.89%. With a median home value of $476,300 in Nokesville, the typical annual property tax bill is $4,224, significantly surpassing the national median of $2,690. Property taxes here 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 Nokesville'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 Nokesville 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
Nokesville, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$4,334
$4,022
Ownwell’s Nokesville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Nokesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nokesville 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 Nokesville, Virginia
Property taxes in Nokesville, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nokesville is 0.91%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Nokesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nokesville 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 Nokesville's effective property tax rate to other counties in Virginia and the national median. For comparison, the 20181 zip code has both the highest and lowest median property tax rate of 0.91%. Understanding how these cities compare with Nokesville 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 Nokesville 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 Nokesville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20181 | 0.90% | 0.91% | 0.91% | 0.91% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Nokesville, Virginia
In Nokesville, 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 Nokesville, 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 Nokesville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $4,224, found in the zip code 20181.
Average Nokesville Assessed Value
$476,300
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 Nokesville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20181 | $87,310 | $357,550 | $476,300 | $613,425 | $761,790 |
Source: Ownwell
Property Tax Bills Across Nokesville, Virginia
In Nokesville, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. The median home price in Nokesville is $476,300, which plays a significant role in calculating the property tax. Several factors influence the tax bill, including property size, location, and any improvements made to the property. For instance, homes in the 25th percentile have tax bills around $2,965, while those in the 75th percentile face bills up to $5,445. The 90th percentile sees tax bills as high as $6,854. These property taxes can significantly impact homeowners, affecting their monthly mortgage payments and overall cost of living. With the national median property tax rate at 0.99%, understanding local tax calculations helps homeowners budget more effectively and anticipate their financial obligations.
Average Nokesville Tax Bill
$4,224
Average Fauquier County Tax Bill
$3,881
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Nokesville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20181 | $608 | $2,965 | $4,224 | $5,445 | $6,854 |
Source: Ownwell