Winchester, Frederick County, Virginia Property Taxes
The median property tax rate in Winchester, VA is 0.51%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Winchester at $300,400, the typical annual property tax bill amounts to $1,490, which is well below the national median of $2,690. Property taxes in Winchester are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Winchester'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 Winchester 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
Winchester, Frederick County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$1,532
$1,422
Ownwell’s Winchester Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Winchester with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Winchester 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 Winchester, Frederick County, Virginia
Property taxes in Winchester, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Winchester is 0.51%, lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Winchester set these rates annually, and they can vary significantly across different neighborhoods. Each year, Winchester 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 Winchester's effective property tax rate to other counties in Virginia and the national median. For comparison, the 22601 zip code has the highest median property tax rate of 0.51%, while the 22601 zip code also has the lowest median tax rate of 0.51%. Understanding how these cities compare with Winchester 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 Winchester 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 Winchester, Frederick County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22601 | 0.26% | 0.51% | 0.51% | 0.51% | 0.51% |
| 22602 | 0.26% | 0.51% | 0.51% | 0.51% | 0.52% |
| 22603 | 0.25% | 0.51% | 0.51% | 0.51% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Winchester, Frederick County, Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Winchester, VA. 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 Assessor 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 Winchester, 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. The highest median tax bill in Winchester is $1539 in the 22602 zip code, while the lowest median tax bill is $1054 in the 22601 zip code. With the national median property tax rate at 0.99%, being aware of these valuation processes in Winchester helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Winchester, Frederick County, Virginia
Source: Ownwell
$216,300
$382,750
$549,200
Average Winchester Assessed Value
$300,400
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 Winchester, Frederick County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22601 | $165,200 | $182,400 | $216,300 | $315,650 | $481,740 |
| 22602 | $166,500 | $227,200 | $303,200 | $422,875 | $575,820 |
| 22603 | $169,360 | $221,100 | $304,500 | $440,900 | $610,580 |
Source: Ownwell
Property Tax Bills Across Winchester, Frederick County, Virginia
In Winchester, located in Frederick County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the home's market value, its location, and any improvements or additions made to the property. For instance, the median home price in Winchester is $300,400, and depending on the assessed value, homeowners can expect their tax bills to vary. The 25th percentile tax bill is $1,048, while the 75th percentile tax bill reaches $2,071, and the 90th percentile tax bill can go up to $2,805. These property taxes significantly impact homeowners, as they must budget for these annual expenses. Comparing this to the national median property tax rate of 0.99%, Winchester's property taxes can be seen as relatively moderate. This ensures that homeowners contribute to essential public services while maintaining a manageable tax burden.
Average Winchester Tax Bill
$1,490
Average Frederick County Tax Bill
$1,559
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Winchester, Frederick County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22601 | $725 | $894 | $1,054 | $1,491 | $2,287 |
| 22602 | $776 | $1,113 | $1,539 | $2,085 | $2,806 |
| 22603 | $652 | $971 | $1,410 | $2,078 | $2,873 |
Source: Ownwell