Stephenson, Frederick County, Virginia Property Taxes
The median property tax rate in Stephenson, VA is 0.51%, considerably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Stephenson at $382,900, the typical annual property tax bill reaches $1,860, significantly below the national median of $2,690. Property taxes in Stephenson are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Stephenson'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 Stephenson 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
Stephenson, Frederick County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$1,953
$1,812
Ownwell’s Stephenson Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Stephenson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stephenson to provide an estimated property tax bill. This valuable tool aids in understanding potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available. Your property’s assessed value is determined by the county for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Stephenson, Frederick County, Virginia
Property taxes in Stephenson, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stephenson is 0.51%, lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Stephenson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stephenson 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 Stephenson's effective property tax rate to other counties in Virginia and the national median. For comparison, the 22656 zip code has the highest median property tax rate of 0.51%, while the 22656 zip code also has the lowest median tax rate of 0.51%. Understanding how these cities compare with Stephenson provides valuable insights into the varying tax landscape across Frederick County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Stephenson Tax Rate
0.51%
Average Frederick County Tax Rate
0.51%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Stephenson, Frederick County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22656 | 0.32% | 0.51% | 0.51% | 0.51% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Stephenson, Frederick County, Virginia
In Stephenson, 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 Frederick 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 Stephenson, 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 Stephenson is $382,900, with tax bills ranging from $1,488 at the 25th percentile to $2,711 at the 90th percentile. 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 Stephenson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Stephenson, Frederick County, Virginia
Source: Ownwell
$216,300
$382,750
$549,200
Average Stephenson Assessed Value
$382,900
Average Frederick County Assessed Value
$318,600
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Stephenson, Frederick County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22656 | $250,600 | $302,000 | $382,900 | $465,700 | $540,180 |
Source: Ownwell
Property Tax Bills Across Stephenson, Frederick County, Virginia
In Stephenson, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the Frederick County assessor's office, which evaluates properties to reflect their market value. Homeowners in Stephenson can expect their tax bills to fall within a range, with the 25th percentile at $1,488 and the 75th percentile at $2,325. For those in the 90th percentile, tax bills can reach up to $2,711. This calculation is crucial for homeowners as it directly impacts their annual expenses. The median home price in Stephenson is $382,900, and with a tax rate that aligns closely with the national median property tax rate of 0.99%, homeowners can anticipate a median tax bill of around $1,860. Understanding these factors helps homeowners budget effectively and plan for their financial obligations.
Average Stephenson Tax Bill
$1,860
Average Frederick County Tax Bill
$1,559
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Stephenson, Frederick County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22656 | $977 | $1,488 | $1,860 | $2,325 | $2,711 |
Source: Ownwell