Troy, Fluvanna County, Virginia Property Taxes
Median Troy, VA effective property tax rate: 0.84%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Troy, VA home value: $269,100
Median annual Troy, VA tax bill: $2,271, $129 lower than the national median property tax bill of $2,400.
How are property taxes in Fluvanna calculated?
Property taxes in Troy, VA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Troy’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Troy, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Troy, Fluvanna County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.84%
Estimate Property Tax Bill
$2,260
$2,098
Ownwell’s Troy Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Troy with just two data points.
By entering your property's estimated assessed value, our calculator applies Troy’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.
This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Fluvanna County.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Troy, Fluvanna County, Virginia
Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget annually to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Troy’s effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S.
Troy, located in Fluvanna County, has a median property tax rate of 0.84%. This rate is notably lower than the national median property tax rate of 1.02%. Residents of Troy benefit from paying less in property taxes compared to the national average, which can result in significant savings. The median property tax bill in Troy is also lower than the national median property tax bill of $2400. For potential homeowners and investors, this makes Troy an attractive location due to its favorable tax climate compared to other regions in the country.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Troy Tax Rate
0.84%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Fluvanna County Tax Rate
0.84%
Median Effective Virginia Tax Rate
0.89%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Troy, Fluvanna County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22974 | 0.84% | 0.84% | 0.84% | 0.84% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Troy, Fluvanna County, Virginia
When examining property taxes in Troy, VA, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Fluvanna County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Fluvanna County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Troy. For example, the median home price in Troy is $269,100, with tax bills ranging significantly across the county. 22974 has the highest median home price at $269,100.
Property Tax Assessment Values Across Troy, Fluvanna County, Virginia
Source: Ownwell
$129,900
$266,100
$402,300
Median Troy Market Value
$269,100
Median Fluvanna County Market Value
$247,650
Median Virginia Market Value
$298,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Troy, Fluvanna County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22974 | $122,510 | $180,600 | $269,100 | $380,875 | $535,990 |
Source: Ownwell
Property Tax Bills Across Troy, Fluvanna County, Virginia
Median Troy Tax Bill
$2,271
Median Fluvanna County Tax Bill
$2,092
Median Virginia Tax Bill
$2,608
Median United States Tax Bill
$2,400
Property Tax Bills Across Troy, Fluvanna County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22974 | $1,028 | $1,524 | $2,271 | $3,229 | $4,524 |
Source: Ownwell