Faber, Albemarle County, Virginia Property Taxes

Name: Property Tax Bills Across Faber, Albemarle County, Virginia
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Faber, 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 Faber, VA home value: $279,950
Median annual Faber, VA tax bill: $2,171, $229 lower than the national median property tax bill of $2,400.

How are property taxes in Albemarle calculated?

Property taxes in Faber, 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 Faber’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Faber, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Faber, Albemarle County, Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.85%

Estimate Property Tax Bill

$2,355

$2,185

Ownwell’s Faber Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Faber with just two data points. By entering your property's estimated assessed value, our calculator applies Faber’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Albemarle County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Faber, Albemarle County, Virginia

As noted earlier, local government entities set tax rates, which can vary widely within a state. Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Faber’s effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S.

Property Tax Rates Across Faber, Albemarle County, Virginia

Source: Ownwell

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 Faber Tax Rate

0.85%

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 Faber, Albemarle County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
22938	0.64%	0.85%	0.85%	0.85%	0.91%

Source: Ownwell

Property Tax Assessment Values Across Faber, Albemarle County, Virginia

When examining property taxes in Faber, VA, 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 May. 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 Faber. For example, the median home price in Faber is $279,950, with tax bills ranging significantly across the county. Zip code 22938 has the highest median home price at $279,950.

Property Tax Assessment Values Across Faber, Albemarle County, Virginia

Source: Ownwell

$207,500

$483,000

$758,500

Median Faber Market Value

$277,000

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 Faber, Albemarle County, Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
22938	$114,500	$167,700	$277,000	$428,350	$621,620

Source: Ownwell

Property Tax Bills Across Faber, Albemarle County, Virginia

In Faber, located in Albemarle County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. The median home price in this area stands at $279,950. Homeowners typically see tax bills ranging from $981 at the 25th percentile to $4,632 at the 90th percentile, with a median tax bill of $2,171. This is slightly below the national median property tax bill of $2,400. Factors such as changes in property value and local government budgets can influence these amounts, impacting homeowners' finances. Ownwell offers valuable assistance to homeowners by identifying opportunities for property tax appeals and exemptions, potentially lowering their tax bills. By leveraging local market data and expertise, Ownwell ensures homeowners are not overpaying, providing peace of mind and potential savings in a region where tax bills can vary significantly.

Property Tax Bills Across Faber, Albemarle County, Virginia

Source: Ownwell

$1,974

$4,619

$7,264

Median Faber Tax Bill

$2,223

Median Albemarle County Tax Bill

$3,925

Median Virginia Tax Bill

$2,852

Median United States Tax Bill

$2,400

Property Tax Bills Across Faber, Albemarle County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
22938	$1,041	$1,145	$2,223	$3,338	$4,020

Source: Ownwell