Rileyville, Virginia Property Taxes
The median property tax rate in Rileyville, VA is 0.73%, 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 $167,200 in Rileyville, the typical annual property tax bill amounts to $1,189, falling below the national median of $2,690. Property taxes in Rileyville are determined based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Rileyville'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 Rileyville or another part of Page County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rileyville, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$1,221
Ownwell’s Rileyville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Rileyville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rileyville 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 Rileyville, Virginia
Property taxes in Rileyville, Virginia, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Rileyville is 0.73%, which is lower than the U.S. national median of 0.99%. Local government entities within Rileyville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rileyville 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 Rileyville's effective property tax rate to other areas in Virginia and the national median. For comparison, the zip code 22650 has the highest median property tax rate of 0.73%, while the same zip code also has the lowest median tax rate of 0.73%. Understanding how these cities compare with Rileyville provides valuable insights into the varying tax landscape across Page County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Rileyville Tax Rate
0.73%
Average Page County Tax Rate
0.73%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rileyville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22650 | 0.51% | 0.73% | 0.73% | 0.73% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Rileyville, Virginia
In Rileyville, 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 Page 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 Rileyville, 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 Rileyville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is $1,189 in the 22650 zip code, while the lowest median tax bill is also $1,189 in the same zip code.
Average Rileyville Assessed Value
$167,200
Average Page County Assessed Value
$161,600
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Rileyville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22650 | $59,360 | $106,100 | $167,200 | $245,600 | $350,440 |
Source: Ownwell
Property Tax Bills Across Rileyville, Virginia
In Rileyville, located in Page County, VA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor, who estimates the market value of the property. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For example, with a median home price of $167,200, homeowners in Rileyville can expect varying tax bills. The tax bill at the 25th percentile is $697, while at the 75th percentile, it rises to $1,749. At the 90th percentile, the tax bill can reach up to $2,348. These figures illustrate how property tax bills can significantly impact homeowners, depending on the value of their property. Compared to the national median property tax rate of 0.99%, Rileyville's rates reflect the local economic conditions and funding needs for public services. Understanding these factors helps homeowners anticipate their annual financial obligations and plan accordingly.
Average Rileyville Tax Bill
$1,189
Average Page County Tax Bill
$1,133
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Rileyville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22650 | $255 | $697 | $1,189 | $1,749 | $2,348 |
Source: Ownwell