Fort Valley, Virginia Property Taxes
The median property tax rate in Fort Valley, VA is 0.60%, considerably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Fort Valley, the typical annual property tax bill reaches $1,366, well below the national median of $2,690. Property taxes in Fort Valley 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 Fort Valley'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 Fort Valley 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
Fort Valley, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$1,385
$1,286
Ownwell’s FORT VALLEY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in FORT VALLEY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in FORT VALLEY 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 Fort Valley, Virginia
Property taxes in Fort Valley, Virginia, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Fort Valley is 0.60%, lower than the U.S. national median of 0.99%. Local government entities within Fort Valley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fort Valley 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 Fort Valley's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 22652 has the highest median property tax rate of 0.60%, while the same zip code also has the lowest median tax rate of 0.60%. Understanding how these areas compare with Fort Valley provides valuable insights into the varying tax landscape across Shenandoah County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fort Valley Tax Rate
0.60%
Average Shenandoah County Tax Rate
0.60%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fort Valley, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22652 | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Fort Valley, Virginia
In Fort Valley, 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 Shenandoah 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 Fort Valley, 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. The median home price in Fort Valley is $230,900, with the 25th percentile tax bill at $826 and the 75th percentile tax bill at $1,868. The highest median tax bill in the area is $1,366 in the 22652 zip code, which also has the lowest median tax bill at $1,366. 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 Fort Valley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fort Valley Assessed Value
$230,900
Average Shenandoah County Assessed Value
$221,200
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fort Valley, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22652 | $46,470 | $139,950 | $230,900 | $314,950 | $394,430 |
Source: Ownwell
Property Tax Bills Across Fort Valley, Virginia
In Fort Valley, VA, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the Shenandoah County assessor's office, which evaluates your property's market value. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. For homeowners in Fort Valley, the median home price is $230,900. Property tax bills can vary significantly, with the 25th percentile at $826 and the 75th percentile reaching $1,868. At the higher end, the 90th percentile tax bill is $2,337. This variation is influenced by factors such as property size, location, and any applicable exemptions or deductions. Comparatively, the national median property tax rate is 0.99%, making Fort Valley's property tax rates relatively moderate. Homeowners should be aware of these factors as they directly impact their annual financial obligations and overall cost of homeownership.
Average Fort Valley Tax Bill
$1,366
Average Shenandoah County Tax Bill
$1,318
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Fort Valley, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22652 | $269 | $826 | $1,366 | $1,868 | $2,337 |
Source: Ownwell