Rochelle, Virginia Property Taxes
The median property tax rate in Rochelle, VA is 0.74%, which is lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Rochelle at $219,950, the typical annual property tax bill amounts to $1,605, also below the national median of $2,690. Property taxes in Rochelle are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Rochelle'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 Rochelle or another part of Madison County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rochelle, Virginia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$1,780
Ownwell’s Rochelle Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rochelle with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rochelle 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 Rochelle, Virginia
Property taxes in Rochelle, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rochelle is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Rochelle set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rochelle 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 Rochelle's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 22738 has both the highest and lowest median property tax rate in Madison County at 0.74%. Understanding how these cities compare with Rochelle provides valuable insights into the varying tax landscape across Madison County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rochelle Tax Rate
0.74%
Average Madison County Tax Rate
0.74%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rochelle, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22738 | 0.74% | 0.74% | 0.74% | 0.74% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Rochelle, Virginia
In Rochelle, 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 Madison County Assessor's Office 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 Rochelle, 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. For instance, the highest median tax bill in the area is found in zip code 22738, amounting to $1,605. Being aware of these valuation processes in Rochelle helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Rochelle Assessed Value
$219,950
Average Madison County Assessed Value
$210,150
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rochelle, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22738 | $112,600 | $158,100 | $219,950 | $287,400 | $382,650 |
Source: Ownwell
Property Tax Bills Across Rochelle, Virginia
In Rochelle, VA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Rochelle is $219,950, and the property tax rate is determined by the county. Homeowners in Rochelle can expect their property tax bill to vary significantly. For example, the 25th percentile tax bill is around $1,170, while the 75th percentile rises to approximately $2,095. At the 90th percentile, the tax bill can reach up to $2,773. Several factors influence these tax bills, including the property's assessed value, any applicable exemptions, and the specific tax rate set by Madison County. These elements collectively determine the final amount a homeowner will pay. Compared to the national median property tax rate of 0.99%, the tax rates in Rochelle can be considered moderate. Homeowners must budget for these taxes as they can significantly impact annual expenses, influencing decisions on property investments and financial planning.
Average Rochelle Tax Bill
$1,605
Average Madison County Tax Bill
$1,531
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Rochelle, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22738 | $833 | $1,170 | $1,605 | $2,095 | $2,773 |
Source: Ownwell