Spotsylvania, Virginia Property Taxes
The median property tax rate in Spotsylvania, VA is 0.77%, which is lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $243,700 in Spotsylvania, the typical annual property tax bill amounts to $1,872, significantly below the national median of $2,690. Property taxes in Spotsylvania are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Gaining a thorough understanding of Spotsylvania's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you reside in the heart of Spotsylvania or another area within the county, being knowledgeable about the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Spotsylvania, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$1,876
$1,741
Ownwell’s Spotsylvania Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Spotsylvania with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Spotsylvania 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 Spotsylvania, Virginia
Property taxes in Spotsylvania, Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Spotsylvania is 0.77%, lower than the U.S. national median of 0.99%. Local government entities within Spotsylvania set these rates annually, and they can vary significantly across different neighborhoods. Each year, Spotsylvania 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 Spotsylvania's effective property tax rate to other counties in Virginia and the national median. For comparison, the 22551 zip code has the highest median property tax rate of 0.77%, while the 22553 zip code has the lowest median tax rate of 0.77%. Understanding how these areas compare with Spotsylvania provides valuable insights into the varying tax landscape across the county, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Spotsylvania 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 Spotsylvania, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22551 | 0.77% | 0.77% | 0.77% | 0.77% | 0.77% |
| 22553 | 0.77% | 0.77% | 0.77% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Spotsylvania, Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Spotsylvania, Virginia. 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 Spotsylvania, 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 the area is $243,700, with tax bills ranging from $954 at the 25th percentile to $4,159 at the 90th percentile. The highest median tax bill is $1,916 in the 22551 zip code, while the lowest is $1,827 in the 22553 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Spotsylvania Assessed Value
$243,700
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 Spotsylvania, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22551 | $114,700 | $169,600 | $249,050 | $392,175 | $588,370 |
| 22553 | $2,000 | $6,225 | $237,850 | $368,975 | $486,500 |
Source: Ownwell
Property Tax Bills Across Spotsylvania, Virginia
In Spotsylvania, VA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county’s property assessor, who evaluates the property’s market value and applies a percentage to determine its taxable value. This assessed value is then multiplied by the local property tax rate to calculate the annual tax bill. For homeowners in Spotsylvania, the median home price is $243,700. The tax bill can vary significantly, with the 25th percentile paying around $954 and the 75th percentile paying approximately $2,915. At the higher end, the 90th percentile sees tax bills reaching up to $4,159. These tax bills play a crucial role in a homeowner's annual expenses, impacting overall affordability and budgeting. For instance, in the zip code 22551, the highest median tax bill is $1,916, while in the zip code 22553, the lowest median tax bill is $1,827. These figures are essential for homeowners to consider as they reflect the financial commitment required to maintain property ownership in the area.
Average Spotsylvania Tax Bill
$1,872
Average Spotsylvania County Tax Bill
$2,149
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Spotsylvania, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22551 | $786 | $1,278 | $1,916 | $3,032 | $4,544 |
| 22553 | $15 | $47 | $1,827 | $2,845 | $3,750 |
Source: Ownwell