Centreville, Virginia Property Taxes
The median property tax rate in Centreville, VA is 0.88%, slightly below the Virginia state median of 0.89% and the national median of 0.99%. With a median home value of $1,302,050 in Centreville, the typical annual property tax bill reaches $11,120, significantly surpassing the national median of $2,690. Property taxes in Centreville are calculated based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Centreville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Centreville 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
Centreville, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$11,458
Ownwell’s Centreville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Centreville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Centreville 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 Centreville, Virginia
Property taxes in Centreville, Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Centreville is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Centreville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Centreville 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 Centreville's effective property tax rate to other counties in Virginia and the national median. For comparison, the 20120 zip code has the highest median property tax rate of 0.88%, while the same zip code also has the lowest median tax rate of 0.88%. Understanding how these areas compare with Centreville provides valuable insights into the varying tax landscape across Loudoun County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Centreville Tax Rate
0.88%
Average Loudoun County Tax Rate
0.88%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Centreville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20120 | 0.83% | 0.87% | 0.88% | 0.88% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Centreville, Virginia
In Centreville, 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 Loudoun 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 Centreville, 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 Centreville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bills is 20120, with a median tax bill of $11,120.
Property Tax Assessment Values Across Centreville, Virginia
Source: Ownwell
$444,410
$1,026,460
$1,608,510
Average Centreville Assessed Value
$1,302,050
Average Loudoun County Assessed Value
$662,650
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Centreville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20120 | $1,116,992 | $1,223,475 | $1,302,050 | $1,392,620 | $1,470,684 |
Source: Ownwell
Property Tax Bills Across Centreville, Virginia
In Centreville, located in Loudoun County, VA, property tax bills are calculated based on the assessed value of a home. The assessment is conducted annually by the county's tax assessor to determine the property's market value. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. Factors such as property size, location, and market conditions are considered during the assessment process. For homeowners in Centreville, the median home price stands at $1,302,050, resulting in a median tax bill of around $11,120. This is significantly higher than the national median property tax rate of 0.99%, reflecting the area's higher property values. Homeowners in this region can expect their tax bills to vary, with the 25th percentile tax bill at $10,526 and the 75th percentile at $12,092. The highest median tax bill in the area is also $11,120, indicating a relatively consistent tax rate across the region. These property taxes fund essential local services, impacting the overall cost of homeownership in Centreville.
Average Centreville Tax Bill
$11,120
Average Loudoun County Tax Bill
$5,811
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Centreville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20120 | $5,417 | $10,526 | $11,120 | $12,092 | $12,698 |
Source: Ownwell