Manassas Park, Virginia Property Taxes
The median property tax rate in Manassas Park, VA is 1.04%, which is higher than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $603,050 in Manassas Park, the typical annual property tax bill reaches $6,310, significantly exceeding the national median of $2,690. Property taxes in Manassas Park are calculated based on the assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Manassas Park's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Manassas Park or another part of the city, gaining insight into 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
$2,500,000
$5,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$1,780
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 essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Manassas Park is 1.04%, which is 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 areas in Virginia and the national median. For comparison, the zip code 20111 has the highest median property tax rate of 1.04%, while the same zip code also has the lowest median tax rate of 1.04%. Understanding how these areas compare with Manassas Park provides valuable insights into the varying tax landscape across Prince William County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Manassas Park Tax Rate
1.04%
Average Prince William County Tax Rate
1.04%
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 | 1.04% | 1.04% | 1.04% | 1.04% | 1.04% |
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 Prince William 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 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. Notably, the zip code 20111 has the highest and lowest median tax bill, both at $6,310.
Property Tax Assessment Values Across Manassas Park, Virginia
Source: Ownwell
$231,600
$547,950
$864,300
Average Manassas Park Assessed Value
$603,050
Average Prince William County Assessed Value
$464,800
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 | $307,440 | $379,975 | $603,050 | $622,800 | $659,370 |
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 local government assessors. 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 $603,050, the tax bill can vary significantly. Homeowners in the 25th percentile can expect to pay around $3,956, while those in the 75th percentile might see bills closer to $6,474. The highest tax bills, in the 90th percentile, can reach up to $6,857 annually. These figures are influenced by the specific property characteristics, such as location within the city, property size, and any improvements made to the home. Compared to the national median property tax rate of 0.99%, property taxes in Manassas Park can have a substantial impact on homeowners' annual expenses, making it crucial for residents to understand how their tax bills are determined and what factors might influence them.
Average Manassas Park Tax Bill
$6,310
Average Prince William County Tax Bill
$4,796
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 | $3,174 | $3,956 | $6,310 | $6,474 | $6,857 |
Source: Ownwell