Washington, Virginia Property Taxes
The median property tax rate in Washington, VA is 0.61%, 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 $376,100 in Washington, the typical annual property tax bill amounts to $2,106, falling below the national median of $2,690. Property taxes in Washington are calculated based on the tax assessed value, which often comes in lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Gaining a thorough understanding of Washington's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you reside in the heart of Washington or another area within Rappahannock County, a deep understanding of the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Washington, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$2,294
Ownwell’s Washington Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Washington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Washington 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 Washington, Virginia
Property taxes in Washington, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Washington is 0.61%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Washington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Washington 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 Washington's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 22747 in Rappahannock County has the highest median property tax rate of 0.61%, while the same zip code also has the lowest median tax rate of 0.61%. Understanding how these cities compare with Washington provides valuable insights into the varying tax landscape across Rappahannock County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Washington Tax Rate
0.61%
Average Rappahannock County Tax Rate
0.61%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Washington, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22747 | 0.33% | 0.51% | 0.61% | 0.61% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Washington, Virginia
In Washington, 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 Rappahannock 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 Washington, 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 Washington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 22747, with a median tax bill of $2,106.
Average Washington Assessed Value
$376,100
Average Rappahannock County Assessed Value
$307,100
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Washington, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22747 | $78,980 | $178,300 | $376,100 | $648,750 | $1,007,100 |
Source: Ownwell
Property Tax Bills Across Washington, Virginia
In Washington, Rappahannock County, VA, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in this area experience varying tax bills depending on their property's assessed value. For instance, the tax bill for the 25th percentile is $973, while the 75th percentile reaches $3,420, and the 90th percentile can go as high as $5,188. The median home price in Washington is $376,100, and the property tax rate is influenced by local budgetary needs and public services funding. Compared to the national median property tax rate of 0.99%, homeowners in Washington may find their tax bills to be relatively moderate or higher, depending on their specific property assessments. These tax bills significantly impact homeowners, as they contribute to the overall cost of owning property and influence decisions related to buying, selling, and maintaining homes in the area.
Average Washington Tax Bill
$2,106
Average Rappahannock County Tax Bill
$1,730
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Washington, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22747 | $217 | $973 | $2,106 | $3,420 | $5,188 |
Source: Ownwell