Trevilians, Virginia Property Taxes
The median property tax rate in Trevilians, VA is 0.33%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Trevilians at $292,600, the typical annual property tax bill amounts to $972, well below the national median of $2,690. Property taxes in Trevilians are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Trevilians' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Trevilians 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
Trevilians, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.33%
Estimate Property Tax Bill
$966
Ownwell’s TREVILIANS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in TREVILIANS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in TREVILIANS 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 Trevilians, Virginia
Property taxes in Trevilians, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Trevilians is 0.33%, which is significantly lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Trevilians set these rates annually, and they can vary significantly across different neighborhoods. Each year, Trevilians 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 Trevilians' effective property tax rate to other counties in Virginia and the national median. For comparison, the highest median property tax rate in Virginia is found in 22311, at 1.03%, while 23117 has the lowest median tax rate of 0.33%. Understanding how these cities compare with Trevilians 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 Trevilians Tax Rate
0.33%
Average Louisa County Tax Rate
0.40%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Trevilians, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23170 | 0.33% | 0.33% | 0.33% | 0.33% | 0.33% |
Source: Ownwell
Property Tax Assessment Values Across Trevilians, Virginia
In Trevilians, 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 Louisa 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 Trevilians, 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 Trevilians helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Trevilians are both $972, found in the 23170 zip code.
Average Trevilians Assessed Value
$292,600
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 Trevilians, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23170 | $292,600 | $292,600 | $292,600 | $292,600 | $292,600 |
Source: Ownwell
Property Tax Bills Across Trevilians, Virginia
In TREVILIANS, located in Louisa County, VA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local government assessors who evaluate various factors, including the property's size, location, and condition. Once the assessed value is established, it is multiplied by the local property tax rate to determine the annual tax bill. For instance, with a median home price of $292,600, property taxes in TREVILIANS can be significant for homeowners. Interestingly, the median property tax bill in TREVILIANS is $972, which is below the national median property tax rate of 0.99%. This relatively lower tax burden can provide some financial relief to homeowners, making it an attractive area for potential buyers. However, it’s important to note that property taxes can still vary within the region, with the 25th, 75th, and 90th percentiles all reporting the same tax bill of $972. Understanding these factors helps homeowners anticipate their annual expenses and manage their finances effectively.
Average Trevilians Tax Bill
$972
Average Louisa County Tax Bill
$1,027
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Trevilians, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23170 | $972 | $972 | $972 | $972 | $972 |
Source: Ownwell