Whitacre, Virginia Property Taxes
The median property tax rate in Whitacre, VA is 0.22%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Whitacre, the typical annual property tax bill reaches $2,932, slightly above the national median of $2,690. Property taxes in Whitacre 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 Whitacre'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 Whitacre 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
Whitacre, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.22%
Estimate Property Tax Bill
$2,995
$2,779
Ownwell’s Whitacre Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Whitacre with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Whitacre 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 Whitacre, Virginia
Property taxes in Whitacre, Virginia, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Whitacre is 0.72%, higher than both the Virginia state median of 0.55% and the U.S. national median of 0.99%. Local government entities within Whitacre set these rates annually, and they can vary significantly across different neighborhoods. Each year, Whitacre 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 Whitacre's effective property tax rate to other counties in Virginia and the national median. For comparison, the highest median property tax rate in the region is 1.05%, while the lowest median tax rate is 0.35%. Understanding how these cities compare with Whitacre 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 Whitacre Tax Rate
0.22%
Average Frederick County Tax Rate
0.51%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Whitacre, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22625 | 0.22% | 0.22% | 0.22% | 0.22% | 0.22% |
Source: Ownwell
Property Tax Assessment Values Across Whitacre, Virginia
In Whitacre, 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 local 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 Whitacre, 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 Whitacre helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Whitacre, both at $2,932, are found in the 22625 zip code.
Average Whitacre Assessed Value
$1,361,400
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 Whitacre, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22625 | $1,361,400 | $1,361,400 | $1,361,400 | $1,361,400 | $1,361,400 |
Source: Ownwell
Property Tax Bills Across Whitacre, Virginia
In Whitacre, Frederick County, VA, property tax bills are determined based on the assessed value of your home. The median home price in Whitacre is $1,361,400, which significantly influences the tax bill. The local tax rate is applied to this assessed value to calculate the annual property tax bill. Factors such as property size, location, and improvements can affect the assessed value, thereby impacting the tax bill. For homeowners in Whitacre, the property tax bill ranges from the 25th to the 90th percentile, all pegged at $2,932, regardless of variations in home values. This uniformity suggests a capped or standardized tax rate within specific brackets. Compared to the national median property tax rate of 0.99%, Whitacre homeowners might experience a different economic impact due to the high median home price but relatively consistent tax bills. Understanding how these factors interplay helps homeowners anticipate their annual expenses and plan their finances accordingly.
Average Whitacre Tax Bill
$2,932
Average Frederick County Tax Bill
$1,559
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Whitacre, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22625 | $2,932 | $2,932 | $2,932 | $2,932 | $2,932 |
Source: Ownwell