Round Hill, Virginia Property Taxes
The median property tax rate in Round Hill, VA is 0.88%, slightly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Round Hill at $684,330, the typical annual property tax bill reaches $5,923, significantly exceeding the national median of $2,690. Property taxes in Round Hill 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 Round Hill'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 Round Hill 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
Round Hill, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$6,022
Ownwell’s Round Hill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Round Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Round Hill 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 Round Hill, Virginia
Property taxes in Round Hill, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Round Hill is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Round Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Round Hill 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 Round Hill's effective property tax rate to other counties in Virginia and the national median. For comparison, the 20141 zip code has the highest median property tax rate of 0.88%, while the 20141 zip code also has the lowest median tax rate of 0.88%. Understanding how these cities compare with Round Hill 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 Round Hill 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 Round Hill, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20141 | 0.87% | 0.87% | 0.88% | 0.88% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Round Hill, Virginia
In Round Hill, 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 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 Round Hill, 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 Round Hill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both $5,923 in the 20141 zip code.
Property Tax Assessment Values Across Round Hill, Virginia
Source: Ownwell
$444,410
$1,026,460
$1,608,510
Average Round Hill Assessed Value
$684,330
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 Round Hill, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20141 | $486,940 | $588,900 | $684,330 | $931,620 | $1,130,110 |
Source: Ownwell
Property Tax Bills Across Round Hill, Virginia
In Round Hill, located in Loudoun County, VA, 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 county assessor and reflects the market value of the property. Loudoun County's property tax rate is applied to this assessed value to calculate the annual tax bill. For example, with a median home price of $684,330, homeowners can expect varying tax bills. The 25th percentile tax bill stands at $5,133, while the 75th percentile reaches $8,078, and the 90th percentile climbs to $9,606. These figures highlight how property tax bills can significantly impact household budgets. Compared to the national median property tax rate of 0.99%, the tax burden in Round Hill is relatively high, reflecting the area's higher property values. Homeowners must consider these taxes when budgeting for their annual expenses, as they can influence overall affordability and financial planning.
Average Round Hill Tax Bill
$5,923
Average Loudoun County Tax Bill
$5,811
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Round Hill, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20141 | $4,235 | $5,133 | $5,923 | $8,078 | $9,606 |
Source: Ownwell