Gordonsville, Virginia Property Taxes
The median property tax rate in Gordonsville, VA is 0.40%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Gordonsville at $256,550, the typical annual property tax bill is $891, well below the national median of $2,690. Property taxes in Gordonsville 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 Gordonsville'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 Gordonsville 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
Gordonsville, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$1,026
$952
Ownwell’s Gordonsville Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Gordonsville with just two inputs. By entering your property's estimated assessed value, the calculator uses the median tax rate in Gordonsville to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Gordonsville, Virginia
Property taxes in Gordonsville, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gordonsville is 0.40%, significantly lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Gordonsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gordonsville 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 Gordonsville'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 1.20%, while the lowest median tax rate is 0.30%. Understanding how these cities compare with Gordonsville provides valuable insights into the varying tax landscape across Louisa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gordonsville Tax Rate
0.40%
Average Louisa County Tax Rate
0.40%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gordonsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22942 | 0.15% | 0.35% | 0.40% | 0.44% | 0.54% |
Source: Ownwell
Property Tax Assessment Values Across Gordonsville, Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Gordonsville, Virginia. 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 Louisa 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 Gordonsville, 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 Gordonsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 22942 has the highest median tax bill of $891.00, while the lowest median tax bill is also $891.00, highlighting a uniformity in tax bills across the area.
Average Gordonsville Assessed Value
$256,550
Average Louisa County Assessed Value
$299,800
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gordonsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22942 | $101,810 | $183,575 | $256,550 | $343,150 | $477,320 |
Source: Ownwell
Property Tax Bills Across Gordonsville, Virginia
In Gordonsville, Louisa County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the property's market value. Homeowners in Gordonsville typically see a range of tax bills depending on their property values. For instance, the tax bill at the 25th percentile is $604, while those at the 75th percentile pay around $1256. The 90th percentile tax bill can go up to $1704. The median home price in Gordonsville is $256,550, and with a property tax rate slightly below the national median of 0.99%, the property tax bill is relatively moderate. Factors such as property size, location, and any applicable exemptions play a crucial role in determining the final tax amount. For homeowners, understanding these factors is essential as property taxes directly impact annual housing costs and overall affordability.
Average Gordonsville Tax Bill
$891
Average Louisa County Tax Bill
$1,027
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Gordonsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22942 | $271 | $604 | $891 | $1,256 | $1,704 |
Source: Ownwell