Stephens City, Virginia Property Taxes
The median property tax rate in Stephens City, VA is 0.49%, considerably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $447,500 in Stephens City, the typical annual property tax bill reaches $2,180, which is below the national median of $2,690. Property taxes in Stephens City 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 Stephens City'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 Stephens City 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
Stephens City, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$2,193
$2,035
Ownwell’s Stephens City Property Tax Bill Calculator is designed to assist homeowners, real estate investors, and potential buyers in estimating their annual property taxes with ease. By simply entering your property's estimated assessed value, the calculator uses the median tax rate for Stephens City to provide an accurate estimate of your property tax bill. This valuable tool helps you gain a clearer understanding of potential tax liabilities. For those interested in more detailed insights, localized information on neighborhood trends is available further down the page. Your property’s assessed value is determined by the county for tax purposes and includes any applicable exemptions.
Property Tax Rates Across Stephens City, Virginia
Property taxes in Stephens City, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stephens City is 0.49%, which is significantly lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Stephens City set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stephens City 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 Stephens City's effective property tax rate to other counties in Virginia and the national median. For comparison, the 22655 zip code has the highest median property tax rate of 0.49%, while the 22655 zip code also has the lowest median tax rate of 0.49%. Understanding how these cities compare with Stephens City 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 Stephens City 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 Stephens City, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22655 | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% |
Source: Ownwell
Property Tax Assessment Values Across Stephens City, Virginia
In Stephens City, 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 Stephens City, 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 Stephens City helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 22655 has both the highest and lowest median tax bills at $2,180.
Property Tax Assessment Values Across Stephens City, Virginia
Source: Ownwell
$256,700
$523,925
$791,150
Average Stephens City Assessed Value
$447,500
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 Stephens City, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22655 | $122,150 | $215,075 | $447,500 | $644,975 | $780,100 |
Source: Ownwell
Property Tax Bills Across Stephens City, Virginia
In Stephens City, located in Warren County, VA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local assessors who evaluate the property’s market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Stephens City, the median home price stands at $447,500. The tax bills can vary significantly, with the 25th percentile tax bill being $1,054 and the 75th percentile reaching $3,160. At the 90th percentile, homeowners could see tax bills as high as $3,822. The highest and lowest median tax bills in the area are both $2,180, reflecting the uniformity within the zip code 22655. Compared to the national median property tax rate of 0.99%, homeowners in Stephens City may find their tax obligations influenced by the local rate and property values, affecting their overall financial planning and homeownership costs.
Average Stephens City Tax Bill
$2,180
Average Warren County Tax Bill
$1,507
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Stephens City, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22655 | $599 | $1,054 | $2,180 | $3,160 | $3,822 |
Source: Ownwell