Rappahannock Academy, Caroline County, Virginia Property Taxes
Median Rappahannock Academy, VA effective property tax rate: 0.77%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Rappahannock Academy, VA home value: $174,850
Median annual Rappahannock Academy, VA tax bill: $1,466, $934 lower than the national median property tax bill of $2,400.
How are property taxes in Caroline County calculated?
Property taxes in Rappahannock Academy, 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 Rappahannock Academy’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Rappahannock Academy, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Rappahannock Academy, Caroline County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.77%
Estimate Property Tax Bill
$1,467
$1,362
Property Tax Rates Across Rappahannock Academy, Caroline County, Virginia
Local government entities set property tax rates, which can vary widely within Virginia. Each year, counties like Caroline estimate their required budget to provide essential services and divide that by the total value of all taxable property within their jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is essentially the annual process.
In Rappahannock Academy, located in Caroline County, the effective property tax rate stands at 0.77%. This rate is consistent across the county, as both the highest and lowest median tax rates in the area are the same. When compared to the median property tax rate in Virginia and the national median rate of 1.02%, Rappahannock Academy's rate is notably lower. This lower rate translates to more manageable property tax bills for homeowners in the area, offering a financial advantage compared to other regions. Understanding these rates can help property owners make informed decisions about appealing their property taxes or seeking exemptions.
Property Tax Rates Across Rappahannock Academy, Caroline County, Virginia
Source: Ownwell
0.77%
0.77%
0.77%
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 Rappahannock Academy Tax Rate
0.77%
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 Caroline County Tax Rate
0.77%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Rappahannock Academy, Caroline County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22538 | 0.77% | 0.77% | 0.77% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Rappahannock Academy, Caroline County, Virginia
When examining property taxes in Rappahannock Academy, 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 Caroline 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 Caroline 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 Rappahannock Academy. For example, the median home price in Rappahannock Academy is $174,850, with tax bills ranging significantly across the county. Zip code 22538 has the highest median home price at $174,850.
Property Tax Assessment Values Across Rappahannock Academy, Caroline County, Virginia
Source: Ownwell
$176,100
$216,250
$256,400
Median Rappahannock Academy Market Value
$190,550
Median Caroline County Market Value
$199,900
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Rappahannock Academy, Caroline County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22538 | $54,090 | $114,675 | $190,550 | $278,775 | $451,210 |
Source: Ownwell
Property Tax Bills Across Rappahannock Academy, Caroline County, Virginia
Property Tax Bills Across Rappahannock Academy, Caroline County, Virginia
Source: Ownwell
$1,356
$1,670
$1,984
Median Rappahannock Academy Tax Bill
$1,491
Median Caroline County Tax Bill
$1,578
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Rappahannock Academy, Caroline County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22538 | $496 | $915 | $1,491 | $2,153 | $3,541 |
Source: Ownwell