Free Union, Albemarle County, Virginia Property Taxes
Median Free Union, 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 Free Union, VA home value: $581,100
Median annual Free Union, VA tax bill: $3,996, $1,596 higher than the national median property tax bill of $2,400.
How are property taxes in Albemarle calculated?
Property taxes in Free Union, 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 Free Union’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Free Union, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Free Union, 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
$4,978
$4,620
Property Tax Rates Across Free Union, Albemarle County, Virginia
Local government entities are responsible for setting property tax rates, which can vary significantly within a state. This is because each county annually calculates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in this process, this is essentially how it works each year.
In Free Union, located in Albemarle County, the effective property tax rate is a reflection of this process. Compared to other cities in Virginia, Free Union's rate provides a unique perspective on how property tax rates can differ even within the same state. The median property tax rate in Virginia is distinct from the national median, offering a point of comparison for property owners. Understanding these differences is crucial for property owners looking to manage their tax liabilities effectively. By comparing Free Union's tax rate with the median rates in Virginia and across the U.S., property owners can gain valuable insights into local tax policies and their potential impact on their financial planning.
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 Free Union 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 Free Union, Albemarle County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22940 | 0.39% | 0.63% | 0.85% | 0.85% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Free Union, Albemarle County, Virginia
When examining property taxes in Free Union, 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.
Assessment notices: In Albemarle County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 Free Union.
For example, the median home price in Free Union is $581,100, with tax bills ranging significantly across the county. Zip code 22940 has the highest median home price at $581,100.
Property Tax Assessment Values Across Free Union, Albemarle County, Virginia
Source: Ownwell
$207,500
$483,000
$758,500
Median Free Union Market Value
$585,700
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 Free Union, Albemarle County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22940 | $245,400 | $355,000 | $585,700 | $1,025,000 | $1,806,540 |
Source: Ownwell
Property Tax Bills Across Free Union, Albemarle County, Virginia
Median Free Union Tax Bill
$4,778
Median Albemarle County Tax Bill
$3,925
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Free Union, Albemarle County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22940 | $2,036 | $2,895 | $4,778 | $7,285 | $13,565 |
Source: Ownwell