Elkwood, Culpeper County, Virginia Property Taxes
Median Elkwood, VA effective property tax rate: 0.46%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Elkwood, VA home value: $360,700
Median annual Elkwood, VA tax bill: $1,544, $856 lower than the national median property tax bill of $2,400.
How are property taxes in Culpeper calculated?
Property taxes in Elkwood, 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 Elkwood’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Elkwood, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Elkwood, Culpeper County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.47%
Estimate Property Tax Bill
$1,721
$1,597
Property Tax Rates Across Elkwood, Culpeper County, Virginia
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 Elkwood Tax Rate
0.47%
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 Culpeper County Tax Rate
0.47%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Elkwood, Culpeper County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22718 | 0.30% | 0.42% | 0.47% | 0.47% | 0.47% |
Source: Ownwell
Property Tax Assessment Values Across Elkwood, Culpeper County, Virginia
When examining property taxes in Elkwood, 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 Culpeper 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 Culpeper 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 Elkwood. For example, the median home price in Elkwood is $360,700, with tax bills ranging significantly across the county. Zip code 22718 has the highest median home price at $360,700.
Property Tax Assessment Values Across Elkwood, Culpeper County, Virginia
Source: Ownwell
$281,200
$426,275
$571,350
Median Elkwood Market Value
$366,200
Median Culpeper County Market Value
$397,800
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Elkwood, Culpeper County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22718 | $222,300 | $279,050 | $366,200 | $472,275 | $685,400 |
Source: Ownwell
Property Tax Bills Across Elkwood, Culpeper County, Virginia
In Elkwood, Culpeper County, VA, property tax bills are calculated based on the assessed value of a home. The median home price in the area is $360,700, which serves as a benchmark for determining property taxes. Homeowners can expect their tax bills to vary, with the 25th percentile at $1,171 and the 75th percentile at $1,926. The highest median tax bill in the region is $1,544, which is significantly lower than the national median tax bill of $2,400. This discrepancy highlights the relatively lower property tax burden for Elkwood homeowners compared to the national average.
Factors influencing the tax bill include the home's assessed value and the local tax rate. For homeowners looking to reduce their property tax burden, Ownwell offers expert property tax appeal and exemption services. By analyzing individual property assessments and identifying potential discrepancies, Ownwell can help homeowners in Elkwood ensure they are not overpaying and maximize their savings on property tax bills.
Median Elkwood Tax Bill
$1,622
Median Culpeper County Tax Bill
$1,803
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Elkwood, Culpeper County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22718 | $975 | $1,273 | $1,622 | $2,006 | $2,671 |
Source: Ownwell