Partlow, Virginia Property Taxes
The median property tax rate in Partlow, VA is 0.77%, 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 $202,200 in Partlow, the typical annual property tax bill amounts to $1,562, falling below the national median of $2,690. Property taxes in Partlow are determined based on the tax assessed value, often less than the market value due to exemptions like primary residence and agricultural exemptions. By understanding Partlow's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve substantial annual savings. Whether you're in the heart of Partlow or another part of Spotsylvania County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Partlow, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$1,557
$1,445
Ownwell’s Partlow Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Partlow with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Partlow 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 Partlow, Virginia
Property taxes in Partlow, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Partlow is 0.77%, lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Partlow set these rates annually, and they can vary significantly across different neighborhoods. Each year, Partlow 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 Partlow's effective property tax rate to other counties in Virginia and the national median. For comparison, the 22534 zip code has the highest median property tax rate of 0.77%, while the same zip code has the lowest median tax rate of 0.77%. Understanding how these cities compare with Partlow 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 Partlow 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 Partlow, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22534 | 0.77% | 0.77% | 0.77% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Partlow, Virginia
In Partlow, 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 Spotsylvania 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 Partlow, 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. For instance, the median home price in Partlow is $202,200, with the 25th percentile tax bill at $1,031 and the 75th percentile tax bill at $2,222. 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 Partlow helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Partlow Assessed Value
$202,200
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 Partlow, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22534 | $84,380 | $139,800 | $202,200 | $286,100 | $391,480 |
Source: Ownwell
Property Tax Bills Across Partlow, Virginia
In Partlow, Spotsylvania County, VA, property tax bills are primarily 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 tax rate to calculate the annual tax bill. For example, with a median home price of $202,200, the tax bill can vary significantly. Homeowners in the 25th percentile can expect an annual tax bill of around $1,031, while those in the 75th percentile may pay approximately $2,222. At the 90th percentile, the tax bill can reach up to $3,043. Several factors influence the assessed value, including the property's market value, location, and physical characteristics. For homeowners, these property taxes are a significant expense that can impact their overall financial planning. Compared to the national median property tax rate of 0.99%, the tax rates in Spotsylvania County reflect the local economic conditions and public service funding needs. Understanding these factors helps homeowners better anticipate their annual property tax obligations.
Average Partlow Tax Bill
$1,562
Average Spotsylvania County Tax Bill
$2,149
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Partlow, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22534 | $536 | $1,031 | $1,562 | $2,222 | $3,043 |
Source: Ownwell