Paris, Virginia Property Taxes
The median property tax rate in Paris, VA is 0.91%, slightly lower than the national median of 0.99% but higher than the Virginia state median of 0.89%. With a median home value of $393,450 in Paris, the typical annual property tax bill reaches $3,435, surpassing the national median of $2,690. Property taxes in Paris 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 Paris'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 Paris 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
Paris, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$3,580
$3,323
Ownwell’s Paris Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Paris with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Paris 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 Paris, Virginia
Property taxes in Paris, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Paris is 0.91%, which is slightly below the U.S. national median of 0.99%. Local government entities within Paris set these rates annually, and they can vary significantly across different neighborhoods. Each year, Paris 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 Paris's effective property tax rate to other counties in Virginia and the national median. For comparison, the 20130 zip code has the highest median property tax rate of 0.91%, while the same zip code also has the lowest median tax rate of 0.91%. Understanding how these cities compare with Paris 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 Paris 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 Paris, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20130 | 0.45% | 0.90% | 0.91% | 0.91% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Paris, Virginia
In Paris, 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 Paris, 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 Paris helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Paris, the highest median tax bill is found in zip code 20130, amounting to $3,435.
Average Paris Assessed Value
$393,450
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 Paris, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20130 | $3,580 | $202,925 | $393,450 | $481,725 | $640,380 |
Source: Ownwell
Property Tax Bills Across Paris, Virginia
In Paris, located in Fauquier County, VA, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by local tax authorities and is typically a percentage of the market value of the property. Homeowners in Paris face a property tax rate that contributes to their annual tax bill, which can vary significantly depending on the value of their home. For instance, the median home price in Paris is $393,450. Property tax bills in this area range widely, with the 25th percentile at $700 and the 75th percentile reaching $4,339. At the higher end, the 90th percentile tax bill can be as much as $5,650. These figures illustrate how property taxes can impact homeowners differently, depending on their property's assessed value. Compared to the national median property tax rate of 0.99%, the tax rates in Paris can result in substantial annual costs for homeowners, particularly those with higher-valued properties. This variability underscores the importance of understanding local tax assessments and how they influence overall tax liabilities.
Average Paris Tax Bill
$3,435
Average Fauquier County Tax Bill
$3,881
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Paris, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20130 | $24 | $700 | $3,435 | $4,339 | $5,650 |
Source: Ownwell