Manassas Park, Virginia Property Taxes
The median property tax rate in Manassas Park, VA is 1.41%, considerably higher than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Manassas Park at $364,650, the typical annual property tax bill reaches $5,099, exceeding the national median of $2,690. Property taxes in Manassas Park 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 Manassas Park'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 Manassas Park 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
Manassas Park, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.41%
Estimate Property Tax Bill
$5,142
Ownwell’s Manassas Park Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Manassas Park with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Manassas Park 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 Manassas Park, Virginia
Property taxes in Manassas Park, Virginia, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Manassas Park is 1.41%, significantly higher than the U.S. national median of 0.99%. Local government entities within Manassas Park set these rates annually, and they can vary significantly across different neighborhoods. Each year, Manassas Park 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 Manassas Park's effective property tax rate to other counties in Virginia and the national median. For comparison, the 20111 zip code has the highest median property tax rate of 1.41%, while the same zip code also has the lowest median tax rate of 1.41%. Understanding how these figures compare with Manassas Park provides valuable insights into the varying tax landscape across the county, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Manassas Park Tax Rate
1.41%
Average Manassas Park County Tax Rate
1.42%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Manassas Park, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20111 | 1.33% | 1.35% | 1.41% | 1.45% | 1.46% |
Source: Ownwell
Property Tax Assessment Values Across Manassas Park, Virginia
In Manassas Park, 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 local 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 Manassas Park, 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 Manassas Park helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $5,099 in zip code 20111.
Property Tax Assessment Values Across Manassas Park, Virginia
Source: Ownwell
$364,650
$364,650
$364,650
Average Manassas Park Assessed Value
$364,650
Average Manassas Park County Assessed Value
$364,600
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Manassas Park, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20111 | $268,270 | $300,800 | $364,650 | $451,900 | $551,810 |
Source: Ownwell
Property Tax Bills Across Manassas Park, Virginia
In Manassas Park, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Manassas Park, the median home price is $364,650. The tax bills can vary significantly; at the 25th percentile, homeowners might pay around $4,271, while those at the 75th percentile could see bills as high as $6,296. The top 10% of tax bills in the area reach up to $7,692. These tax rates are crucial for homeowners as they directly impact the affordability and overall cost of owning property in the region. Compared to the national median property tax rate of 0.99%, Manassas Park's tax bills reflect a higher burden for many residents, highlighting the importance of understanding local property tax policies and potential exemptions to manage financial obligations effectively.
Average Manassas Park Tax Bill
$5,099
Average Manassas Park County Tax Bill
$5,097
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Manassas Park, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20111 | $3,576 | $4,271 | $5,099 | $6,296 | $7,692 |
Source: Ownwell