Dyke, Albemarle County, Virginia Property Taxes
Median Dyke, VA effective property tax rate: 0.85%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Dyke, VA home value: $310,400
Median annual Dyke, VA tax bill: $2,266, $134 lower than the national median property tax bill of $2,400.
How are property taxes in Albemarle County calculated?
Property taxes in Dyke, VA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Dyke’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Dyke, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Dyke, Albemarle County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.85%
Estimate Property Tax Bill
$2,716
$2,520
Property Tax Rates Across Dyke, Albemarle County, Virginia
Local government entities determine tax rates, which can vary significantly within a state. This variation occurs because each county annually estimates its budget to provide services and then divides that by the total value of all taxable property within its jurisdiction. This process results in the property tax rate. Although votes and laws play a role in setting tax rates and budgets, this is essentially how it works each year.
In the city of Dyke, located in Albemarle County, Virginia, the effective property tax rate is a key point of comparison. Dyke's rate aligns with the county's median rate of 0.85%, which stands below the national median property tax rate of 1.02%. This means residents in Dyke benefit from a lower tax rate compared to the national average, potentially resulting in lower property tax bills than the national median of $2400. By understanding how these rates are set and comparing them to state and national figures, property owners in Dyke can better grasp their tax obligations and explore potential savings through appeals and exemptions.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Dyke Tax Rate
0.85%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Albemarle County Tax Rate
0.85%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Dyke, Albemarle County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22935 | 0.66% | 0.85% | 0.85% | 0.85% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Dyke, Albemarle County, Virginia
When examining property taxes in Dyke, Virginia, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Albemarle County Appraisal District estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Albemarle County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Dyke.
For example, the median home price in Dyke is $310,400, with tax bills ranging significantly across the county. Zip code 22935 has the highest median home price at $310,400.
Property Tax Assessment Values Across Dyke, Albemarle County, Virginia
Source: Ownwell
$207,500
$483,000
$758,500
Median Dyke Market Value
$319,500
Median Albemarle County Market Value
$451,350
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Dyke, Albemarle County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22935 | $132,760 | $194,800 | $319,500 | $596,925 | $892,320 |
Source: Ownwell
Property Tax Bills Across Dyke, Albemarle County, Virginia
Median Dyke Tax Bill
$2,709
Median Albemarle County Tax Bill
$3,925
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Dyke, Albemarle County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22935 | $1,298 | $1,751 | $2,709 | $5,098 | $7,238 |
Source: Ownwell