Waynesboro, Virginia Property Taxes
The median property tax rate in Waynesboro, VA is 0.77%, which is lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Waynesboro at $219,000, the typical annual property tax bill amounts to $1,684, well below the national median of $2,690. Property taxes in Waynesboro are calculated based on the tax assessed value, which is typically lower than the market value due to various exemptions such as primary residence and agricultural exemptions. By understanding Waynesboro's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve significant annual savings. Whether you're in the heart of Waynesboro 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
Waynesboro, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$1,686
$1,565
Ownwell’s Waynesboro Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waynesboro with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waynesboro 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 Waynesboro, Virginia
Property taxes in Waynesboro, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waynesboro is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Waynesboro set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waynesboro 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 Waynesboro's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 22980 in Waynesboro has the highest median property tax rate of 0.77%, while the same zip code also has the lowest median tax rate of 0.77%. Understanding how these cities compare with Waynesboro provides valuable insights into the varying tax landscape across Waynesboro, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Waynesboro Tax Rate
0.77%
Average Waynesboro County Tax Rate
0.77%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waynesboro, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22980 | 0.77% | 0.77% | 0.77% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Waynesboro, Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Waynesboro, 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 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 Waynesboro, 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. The highest and lowest median tax bills in Waynesboro are both $1,684, found in the 22980 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Waynesboro Assessed Value
$219,000
Average Waynesboro County Assessed Value
$219,000
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Waynesboro, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22980 | $140,360 | $173,900 | $219,000 | $295,100 | $372,500 |
Source: Ownwell
Property Tax Bills Across Waynesboro, Virginia
In Waynesboro, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value typically reflects a percentage of the property's market value. For instance, a median home price in Waynesboro is $219,000. The local tax rate is then applied to this assessed value to calculate the annual property tax bill. Several factors influence the tax bill, including property size, location, and any improvements made to the property. Homeowners in Waynesboro can expect to pay within a range, with the 25th percentile tax bill at $1,338 and the 75th percentile at $2,271. At the higher end, the 90th percentile tax bill reaches $2,867. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark to understand local tax burdens. This variation in tax bills can significantly impact homeowners' finances, influencing decisions on property investments and budget planning.
Average Waynesboro Tax Bill
$1,684
Average Waynesboro County Tax Bill
$1,684
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Waynesboro, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22980 | $1,080 | $1,338 | $1,684 | $2,271 | $2,867 |
Source: Ownwell