Fredericksburg County, Virginia Property Taxes
The median property tax rate in Fredericksburg is 0.86%, which is slightly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Fredericksburg, the typical annual property tax bill amounts to $2,772, which is close to the national median of $2,690. Property taxes in Fredericksburg are calculated based on the tax assessed value, which is often lower than the actual market value due to various property tax exemptions, such as those for primary residences and agricultural properties. Understanding Fredericksburg's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Fredericksburg or another part of the county, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fredericksburg County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$2,770
$2,570
Ownwell’s Fredericksburg Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Fredericksburg with just two data points. By entering your property's estimated assessed value, our calculator applies the median tax rate in Fredericksburg to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities, ensuring you are well-prepared for any financial obligations. If you’re interested in more localized trends, scroll down to explore city-level information. Your property's assessed value is determined by the county and factors in any exemptions you may have, making it a crucial component for accurate property tax calculations.
Property Tax Rates Across Fredericksburg County, Virginia
Property taxes in Fredericksburg play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Fredericksburg is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Fredericksburg set these rates annually, and they can vary significantly between different areas within the county. Each year, Fredericksburg estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Fredericksburg's effective property tax rate with the national median. For comparison, the city of Fredericksburg has one of the higher property tax rates in Virginia at 0.86%. Analyzing how Fredericksburg's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Fredericksburg County Tax Rate
0.86%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fredericksburg County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Fredericksburg | 0.86% | 0.86% | 0.86% | 0.86% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Fredericksburg County, Virginia
In Fredericksburg, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Fredericksburg Appraisal District. The assessed value, however, 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. Assessment notices in Fredericksburg are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Fredericksburg will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. In Fredericksburg, the median home price stands at $322,050. The highest median tax bill is $2,772, while the lowest is also $2,772. The 25th percentile tax bill is $1,958, the 75th percentile tax bill is $3,548, and the 90th percentile tax bill is $4,500. These figures highlight the range of property tax bills homeowners can expect in this region.
Property Tax Assessment Values Across Fredericksburg County, Virginia
Source: Ownwell
$294,300
$308,900
$323,500
Average Fredericksburg County Assessed Value
$322,050
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fredericksburg County, Virginia
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Fredericksburg | $145,400 | $227,375 | $322,050 | $412,500 | $523,200 |
Source: Ownwell
Property Tax Bills Across Fredericksburg County, Virginia
In Fredericksburg, VA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and is intended to reflect the market value of the property. Homeowners in Fredericksburg can expect tax bills that vary significantly depending on several factors, including the property's location, size, and condition. For example, the median home price in the county is $322,050, which can result in different tax bills across various percentiles. At the 25th percentile, homeowners might pay around $1,958, while those at the 75th percentile could see bills closer to $3,548. The tax bill for properties in the 90th percentile can reach up to $4,500. These figures highlight how property taxes can impact homeowners differently based on their property's assessed value. Compared to the national median property tax rate of 0.99%, Fredericksburg's rates can be seen as either a burden or a benefit, depending on individual circumstances and property values.
Average Fredericksburg County Tax Bill
$2,772
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Fredericksburg County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Fredericksburg | $1,252 | $1,958 | $2,772 | $3,548 | $4,500 |
Source: Ownwell