Middletown, Warren County, Virginia Property Taxes
The median property tax rate in Middletown, VA is 0.49%, considerably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Middletown at $507,000, the typical annual property tax bill amounts to $2,523, which is below the national median of $2,690. Property taxes in Middletown 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 Middletown'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 Middletown 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
Middletown, Warren County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$2,484
$2,305
Ownwell’s Middletown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Middletown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Middletown 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 Middletown, Warren County, Virginia
Property taxes in Middletown, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Middletown is 0.49%, which is lower than the U.S. national median of 0.99%. Local government entities within Middletown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Middletown 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 Middletown's effective property tax rate to other areas in Warren County and the national median. For comparison, the 22649 zip code has the highest median property tax rate of 0.74%, while the 22645 zip code has the lowest median tax rate of 0.49%. Understanding how these areas compare with Middletown provides valuable insights into the varying tax landscape across Warren County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Middletown Tax Rate
0.49%
Average Warren County Tax Rate
0.49%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Middletown, Warren County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22645 | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% |
| 22649 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Middletown, Warren County, Virginia
In Middletown, 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 Warren County 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 Middletown, 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. For instance, the highest median tax bill in Middletown is $2,524 in the 22645 zip code, while the lowest is $2,316 in the 22649 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Middletown, Warren County, Virginia
Source: Ownwell
$300,600
$545,875
$791,150
Average Middletown Assessed Value
$507,000
Average Warren County Assessed Value
$306,900
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Middletown, Warren County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22645 | $169,580 | $274,050 | $507,100 | $656,100 | $796,000 |
| 22649 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Middletown, Warren County, Virginia
In Middletown, VA, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the local property tax rate set by Warren County. The median home price in Middletown is $507,000, and homeowners can expect their tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $1,333, while at the 75th percentile, it rises to $3,247. At the 90th percentile, homeowners might see tax bills as high as $3,970. Several factors influence the tax bill, including the property's market value, any applicable exemptions, and the specific tax rate for the area. Homeowners in Middletown face property tax bills that can significantly impact their annual expenses. Compared to the national median property tax rate of 0.99%, Warren County's rates create a range of tax burdens, with some zip codes like 22645 having the highest median tax bill at $2,524, while others like 22649 have a slightly lower median tax bill of $2,316.
Average Middletown Tax Bill
$2,523
Average Warren County Tax Bill
$1,507
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Middletown, Warren County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22645 | $818 | $1,328 | $2,524 | $3,252 | $3,970 |
| 22649 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell