Staunton County Property Taxes
The median property tax rate in Staunton is 0.89%, which is slightly below the national median of 0.99% and aligns with the Virginia state median of 0.89%. With a median home value of $203,200 in Staunton, the typical annual property tax bill amounts to $1,812, significantly lower than the national median of $2,690. Property taxes in Staunton are calculated based on the tax assessed value, which is often less than the actual market value due to various property tax exemptions such as those for primary residences and agricultural properties. Understanding Staunton's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide substantial annual savings. Whether you reside in the city of Staunton or another part of the county, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Staunton County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$1,808
Ownwell’s Staunton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Staunton with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Staunton to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Staunton County, Virginia
Property taxes in Staunton play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Staunton is 0.89%, which is lower than the U.S. national median of 0.99%. Local government entities within Staunton set these rates annually, and they can vary significantly between different areas within the county. Each year, Staunton estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Staunton's effective property tax rate with the national median. For comparison, the city of Staunton has a property tax rate of 0.89%, which is consistent across the county. Analyzing how Staunton's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Staunton County Tax Rate
0.89%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Assessment Values Across Staunton County, Virginia
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Staunton. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Staunton Appraisal District. The assessed value, however, 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. Assessment notices in Staunton are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, homeowners in Verona face the highest median tax bill at $2,060, while those in Staunton experience the lowest at $1,812. Being aware of these valuation processes in Staunton will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Staunton County, Virginia
Source: Ownwell
$203,200
$217,350
$231,500
Average Staunton County Assessed Value
$203,200
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Bills Across Staunton County, Virginia
In Staunton, VA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the county's property tax rate to determine the annual tax bill. Homeowners in Staunton can expect a range of tax bills depending on their property's value, with the 25th percentile at $1,317 and the 75th percentile at $2,406. For those in the 90th percentile, tax bills can reach up to $3,249. Several factors influence these calculations, including the property's location, size, and market conditions. For instance, the median home price in Staunton is $203,200, which plays a significant role in determining the tax amount. Compared to the national median property tax rate of 0.99%, Staunton's tax bills reflect a localized approach to valuation and taxation. High property taxes can impact homeowners by increasing the overall cost of homeownership, while lower taxes can make the area more attractive for potential buyers. Staunton's highest median tax bill is found in Verona at $2,060, while the lowest is in Staunton city at $1,812.
Average Staunton County Tax Bill
$1,812
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690