The Plains, Virginia Property Taxes
The median property tax rate in The Plains, VA is 0.90%, slightly below the national median of 0.99% but just above the Virginia state median of 0.89%. With a median home value of $523,150 in The Plains, the typical annual property tax bill reaches $4,593, significantly exceeding the national median of $2,690. Property taxes in The Plains are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding The Plains' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of The Plains 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
The Plains, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.9%
Estimate Property Tax Bill
$4,708
$4,369
Ownwell’s The Plains Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in The Plains with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in The Plains 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 The Plains, Virginia
Property taxes in The Plains, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in The Plains is 0.90%, lower than the U.S. national median of 0.99%. Local government entities within The Plains set these rates annually, and they can vary significantly across different neighborhoods. Each year, The Plains 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 The Plains' effective property tax rate to other areas in Virginia and the national median. For comparison, the 20198 zip code has both the highest and lowest median property tax rate of 0.90%. Understanding how these areas compare with The Plains 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 The Plains 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 The Plains, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20198 | 0.54% | 0.90% | 0.90% | 0.91% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across The Plains, Virginia
In The Plains, 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 The Plains, 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. The median home price in The Plains is $523,150, with tax bills ranging from $2,630 at the 25th percentile to $14,364 at the 90th percentile. The highest and lowest median tax bills are both $4,593, found in zip code 20198. 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 The Plains helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average The Plains Assessed Value
$523,150
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 The Plains, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20198 | $39,980 | $324,300 | $523,150 | $936,875 | $1,895,910 |
Source: Ownwell
Property Tax Bills Across The Plains, Virginia
In The Plains, Fauquier County, VA, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the market value, reflecting the property's worth as determined by the county assessor. Homeowners in The Plains can expect their tax bills to vary significantly based on their property's assessed value and the local tax rate. For instance, the median home price in The Plains is $523,150. Property tax bills in this area range widely, with the 25th percentile at $2,630 and the 75th percentile at $7,624. At the 90th percentile, tax bills can reach up to $14,364. The highest and lowest median tax bills in the area both stand at $4,593, indicating a relatively stable tax rate across different properties. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners. Understanding these factors helps residents anticipate their financial obligations and the benefits derived from their contributions.
Average The Plains Tax Bill
$4,593
Average Fauquier County Tax Bill
$3,881
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across The Plains, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20198 | $75 | $2,630 | $4,593 | $7,624 | $14,364 |
Source: Ownwell