Sumerduck, Virginia Property Taxes
The median property tax rate in Sumerduck, VA is 0.91%, slightly below the national median of 0.99% but above the Virginia state median of 0.89%. With the median home value in Sumerduck at $374,500, the typical annual property tax bill reaches $3,274, significantly higher than the national median of $2,690. Property taxes in Sumerduck are calculated based on the tax assessed value, which often falls below the market value thanks to various exemptions such as primary residence and agricultural exemptions. Understanding Sumerduck'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 Sumerduck or another part of Fauquier County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sumerduck, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$3,408
Ownwell’s Sumerduck Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sumerduck with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sumerduck 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 Sumerduck, Virginia
Property taxes in Sumerduck, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sumerduck is 0.91%, which is slightly below the U.S. national median of 0.99%. Local government entities within Sumerduck set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sumerduck 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 Sumerduck's effective property tax rate to other areas in Fauquier County and the national median. For comparison, the zip code 22742 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 areas compare with Sumerduck 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 Sumerduck 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 Sumerduck, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22742 | 0.69% | 0.91% | 0.91% | 0.91% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Sumerduck, Virginia
In Sumerduck, 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 Sumerduck, 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 Sumerduck helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 22742, with a median tax bill of $3,274.
Average Sumerduck Assessed Value
$374,500
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 Sumerduck, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22742 | $125,030 | $288,475 | $374,500 | $487,575 | $643,870 |
Source: Ownwell
Property Tax Bills Across Sumerduck, Virginia
In Sumerduck, Fauquier County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value typically reflects a percentage of the home's market value. Homeowners in Sumerduck experience a range of property tax bills. For example, the tax bill at the 25th percentile is $2,501, while at the 75th percentile, it reaches $4,236. At the 90th percentile, homeowners might pay up to $5,331. Several factors influence the final tax bill, including the property's assessed value, the local tax rate, and any applicable exemptions or deductions. In Fauquier County, the highest median tax bill recorded is $3,274 in the 22742 zip code, which aligns with the national median property tax rate of 0.99%. Understanding these factors can help homeowners anticipate their property tax obligations and manage their finances accordingly. Thus, property taxes in Sumerduck significantly impact homeowners, influencing their annual budgeting and long-term financial planning.
Average Sumerduck Tax Bill
$3,274
Average Fauquier County Tax Bill
$3,881
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Sumerduck, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22742 | $821 | $2,501 | $3,274 | $4,236 | $5,331 |
Source: Ownwell