Oakpark, Madison County, Virginia Property Taxes

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

Median OAKPARK, VA effective property tax rate: 0.74%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median OAKPARK, VA home value: $201,100
Median annual OAKPARK, VA tax bill: $1,465, $935 lower than the national median property tax bill of $2,400.

How are property taxes in Madison calculated?

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

Last Updated March 1, 2025

Oakpark, Madison County, Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.74%

Estimate Property Tax Bill

$1,488

$1,381

Ownwell’s OAKPARK Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in OAKPARK with just two data points. By entering your property's estimated assessed value, our calculator applies OAKPARK’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 MADISON. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Oakpark, Madison County, Virginia

Local government entities set tax rates, which can vary widely within a state. This is 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 Oak Park’s effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S. Oak Park, located in Madison County, Virginia, stands out with a property tax rate of 0.74%, which is below the national median of 1.02%. This rate is consistent across Madison County, making it both the highest and lowest in the region. Comparing this to the national median property tax bill of $2400, residents of Oak Park benefit from relatively lower property tax obligations. This favorable tax rate can be an attractive factor for property owners considering an appeal or exemption, as it highlights the potential for savings.

Property Tax Rates Across Oakpark, Madison County, Virginia

Source: Ownwell

0.74%

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 Oakpark Tax Rate

0.74%

Median Effective Madison County Tax Rate

0.74%

Median Effective Virginia Tax Rate

0.90%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Oakpark, Madison County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
22730	0.66%	0.74%	0.74%	0.74%	0.74%

Source: Ownwell

Property Tax Assessment Values Across Oakpark, Madison County, Virginia

When examining property taxes in OAKPARK, 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 Madison 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 Madison 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 OAKPARK.

For example, the median home price in OAKPARK is $201,100, with tax bills ranging significantly across the county. 22730 has the highest median home price at $201,100.

Property Tax Assessment Values Across Oakpark, Madison County, Virginia

Source: Ownwell

$124,600

$194,925

$265,250

Median Oakpark Market Value

$201,100

Median Madison County Market Value

$212,100

Median Virginia Market Value

$323,500

Median United States Market Value

$235,294

Property Tax Assessment Values Across Oakpark, Madison County, Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
22730	$119,320	$153,500	$201,100	$285,900	$436,120

Source: Ownwell

Property Tax Bills Across Oakpark, Madison County, Virginia

In Oakpark, located in Madison County, VA, property tax bills are calculated based on the assessed value of a home. The local tax rate is applied to this assessed value to determine the tax bill. With a median home price of $201,100, homeowners can expect varying tax bills. The 25th percentile tax bill is $1,125, while the 75th percentile reaches $2,120, and the 90th percentile escalates to $3,248. These figures highlight the range of tax burdens homeowners may face, depending on the assessed value of their property and the local tax rate. Compared to the national median property tax bill of $2,400, Oakpark's tax bills can be relatively manageable, yet they still pose a significant financial responsibility for many homeowners. Ownwell offers valuable assistance by helping homeowners appeal their property assessments, potentially lowering tax bills. By leveraging expert knowledge and experience, Ownwell can identify discrepancies in property assessments and guide homeowners through the appeal process, ultimately saving them money on their property taxes.

Property Tax Bills Across Oakpark, Madison County, Virginia

Source: Ownwell

$922

$1,443

$1,963

Median Oakpark Tax Bill

$1,465

Median Madison County Tax Bill

$1,540

Median Virginia Tax Bill

$2,852

Median United States Tax Bill

$2,400

Property Tax Bills Across Oakpark, Madison County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
22730	$883	$1,124	$1,465	$2,103	$3,227

Source: Ownwell

Don't miss the deadline to appeal!

Dates
Appeal Deadline	March 5

Links
Madison Tax Assessor
Website	www.webgis.net