Spotsylvania, Orange County, Virginia Property Taxes
The median property tax rate in Spotsylvania, VA is 0.77%, which is notably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $272,000 in Spotsylvania, the typical annual property tax bill amounts to $2,127, falling below the national median of $2,690. Property taxes in Spotsylvania are determined based on the assessed value, which is often less than the market value due to various exemptions such as those for primary residences and agricultural land. By understanding Spotsylvania's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve significant annual savings. Whether residing in the heart of Spotsylvania or another part of the county, a thorough grasp of the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Spotsylvania, Orange County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$2,094
$1,944
Ownwell’s Spotsylvania Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Spotsylvania with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Spotsylvania 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 Spotsylvania, Orange County, Virginia
Property taxes in Spotsylvania, Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Spotsylvania is 0.77%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Spotsylvania set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spotsylvania 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 Spotsylvania's effective property tax rate to other counties in Virginia and the national median. For comparison, the 22551 zip code has the highest median property tax rate of 0.77%, while the same zip code also has the lowest median tax rate of 0.77%. Understanding how these cities compare with Spotsylvania 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 Spotsylvania Tax Rate
0.77%
Average Orange County Tax Rate
0.76%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Spotsylvania, Orange County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22551 | 0.75% | 0.76% | 0.77% | 0.80% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Spotsylvania, Orange County, Virginia
In Spotsylvania, 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 assessment authority 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 Spotsylvania, 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 Spotsylvania helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $2,127 in the 22551 zip code, while the lowest median tax bill is also $2,127 in the same zip code.
Property Tax Assessment Values Across Spotsylvania, Orange County, Virginia
Source: Ownwell
$183,600
$266,950
$350,300
Average Spotsylvania Assessed Value
$272,000
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 Spotsylvania, Orange County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22551 | $132,280 | $182,000 | $272,000 | $323,600 | $367,890 |
Source: Ownwell
Property Tax Bills Across Spotsylvania, Orange County, Virginia
In Spotsylvania, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. For instance, with a median home price of $272,000, homeowners typically face varying tax bills depending on their property's assessed value and applicable exemptions. Several factors influence property tax bills, including the property's location, size, and condition. In Spotsylvania, tax bills range widely: the 25th percentile tax bill is $1,442, while the 75th percentile reaches $2,523. The highest median tax bill recorded is $2,127 in the 22551 zip code. Compared to the national median property tax rate of 0.99%, Spotsylvania's rates can be both higher and lower depending on specific circumstances. These property tax bills significantly impact homeowners, affecting monthly mortgage payments and overall housing affordability. Understanding how these factors interplay helps homeowners better anticipate their financial responsibilities.
Average Spotsylvania Tax Bill
$2,127
Average Orange County Tax Bill
$1,781
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Spotsylvania, Orange County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22551 | $1,016 | $1,442 | $2,127 | $2,523 | $2,950 |
Source: Ownwell