Orange, Virginia Property Taxes
The median property tax rate in Orange, VA is 0.77%, which is lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Orange at $342,450, the typical annual property tax bill amounts to $2,589, slightly below the national median of $2,690. Property taxes in Orange are calculated 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 land. Understanding Orange'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 Orange or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Orange, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$2,637
$2,447
Ownwell’s Orange Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Orange with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Orange to provide an estimate of your property tax bill. This invaluable tool helps you grasp potential tax liabilities. For those interested in neighborhood-level trends, additional localized information is available further down the page. The assessed value of your property is determined by the county for tax calculation purposes, taking into account any applicable exemptions.
Property Tax Rates Across Orange, Virginia
Property taxes in Orange, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Orange is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Orange set these rates annually, and they can vary significantly across different neighborhoods. Each year, Orange 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 Orange's effective property tax rate to other areas in Virginia and the national median. For comparison, the zip code 22960 has both the highest and lowest median property tax rate in the region, standing at 0.77%. Understanding how these areas compare with Orange provides valuable insights into the varying tax landscape across Spotsylvania County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Orange Tax Rate
0.77%
Average Spotsylvania County Tax Rate
0.77%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Orange, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22960 | 0.77% | 0.77% | 0.77% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Orange, Virginia
In Orange, 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 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 Orange, 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 Orange helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill in Orange is 22960, with a median tax bill of $2,589.
Average Orange Assessed Value
$342,450
Average Spotsylvania County Assessed Value
$279,200
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Orange, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22960 | $39,020 | $194,975 | $342,450 | $622,500 | $894,720 |
Source: Ownwell
Property Tax Bills Across Orange, Virginia
Property tax bills in Orange, VA, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. This value is then multiplied by the local property tax rate to calculate the annual tax bill. For instance, with a median home price of $342,450, homeowners might expect varying tax bills depending on their property's assessed value and the applicable tax rate. Factors such as property location, improvements, and market conditions influence the assessed value. In Orange, tax bills can range significantly. The 25th percentile tax bill is approximately $1,461, while the 75th percentile reaches about $4,755, and the 90th percentile can be as high as $6,905. Comparatively, the national median property tax rate is 0.99%, and Orange's tax rates can vary within this context. These tax bills directly impact homeowners' annual expenses, making it crucial to understand how assessments and rates are determined.
Average Orange Tax Bill
$2,589
Average Spotsylvania County Tax Bill
$2,149
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Orange, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22960 | $289 | $1,461 | $2,589 | $4,755 | $6,905 |
Source: Ownwell