Burr Hill, Virginia Property Taxes
The median property tax rate in Burr Hill, VA is 0.78%, 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 Burr Hill at $214,250, the typical annual property tax bill is $1,664, significantly below the national median of $2,690. Property taxes in Burr Hill are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Burr 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 Burr 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
Burr Hill, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$1,671
Ownwell’s Burr Hill Property Tax Bill Calculator offers homeowners, real estate investors, and potential buyers a simple way to estimate their annual property taxes in Burr Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Burr Hill to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in seeing trends at a more granular level, you can scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any exemptions that may apply.
Property Tax Rates Across Burr Hill, Virginia
Property taxes in Burr Hill, Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burr Hill is 0.78%, lower than the U.S. national median of 0.99%. Local government entities within Burr Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burr 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 Burr Hill's effective property tax rate to other counties in Virginia and the national median. For comparison, the 22433 zip code has the highest median property tax rate of 0.78%, while the same zip code also has the lowest median tax rate of 0.78%. Understanding how these cities compare with Burr Hill provides valuable insights into the varying tax landscape across Orange County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burr Hill Tax Rate
0.78%
Average Orange County Tax Rate
0.76%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burr Hill, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22433 | 0.75% | 0.76% | 0.78% | 0.82% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Burr Hill, Virginia
In Burr 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 Orange 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 Burr 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 Burr Hill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 22433 has the highest and lowest median tax bill, both at $1,664, highlighting the uniformity in tax assessments in this area.
Average Burr Hill Assessed Value
$214,250
Average Orange County Assessed Value
$231,900
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burr Hill, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22433 | $116,070 | $163,775 | $214,250 | $282,475 | $390,870 |
Source: Ownwell
Property Tax Bills Across Burr Hill, Virginia
In Burr Hill, 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 then multiplied by the local tax rate to determine the annual property tax bill. For example, in Orange County, where Burr Hill is located, the median home price is $214,250. Homeowners in the 25th percentile can expect a tax bill of around $1,301, while those in the 75th percentile might see a bill closer to $2,329. At the 90th percentile, the tax bill can reach up to $3,085. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life in the community. Compared to the national median property tax rate of 0.99%, Burr Hill's tax rates are relatively moderate, providing a balance between necessary public funding and affordability for homeowners. This system ensures that property taxes are equitably distributed based on property values, making it fair for all residents.
Average Burr Hill Tax Bill
$1,664
Average Orange County Tax Bill
$1,781
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Burr Hill, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22433 | $876 | $1,301 | $1,664 | $2,329 | $3,085 |
Source: Ownwell