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Charlottesville Real Estate & Houses For Sale
Charlottesville Real Estate & Houses For Sale
Real Estate Taxes Charlottesville, Virginia - Albemarle County and Central VA
                Charlottesville VA Homes for Sale Real Estate Services Albemarle County Real Estate Taxes, City of Charlottesville VA Real Estate Taxes, Greene County VA Real Estate Taxes
The Assessed Values for Real Estate Taxes are determined by each jurisdictions assessors office using 100% of the fair market value determined for the property as of January the 1st of each year.   The real estate tax due as of that date is determined by dividing the Assessed Value of the property by $ 100 and then multiplying that number by the tax rate that follows for each of the jurisdictions that the property is sited.  Example:  a $ 350,000 assessed valued residence in Albemarle County would be divided by $ 100 for a total of 3,500 multiplied by the tax rate of $ 0.799 for $ 2,797 annual real estate tax for 2014.  The City of Charlottesville, located in Albemarle County has it's own tax jurisdiction and thus it's own specific tax rate and it is currently at $ 0.95, so a similar property with an assessed value of $ 350,000 would be $ 3,325 annual real estate tax for 2014.  This is a difference of $ 528 a year or if budgeting for your monthly home payments an additional $ 44 a month extra to live in the city versus the county jurisdiction.  Using a 30 year fixed mortgage at a 4.5% interest rate, this would equate to an estimated $ 8,678 additional available purchase power in pricing (with the principal and interest rate only estimated).
Basically, the real estate tax is calculated by the tax rate multiplied for each $ 100 of assessed value.       
                                                             2009                    2012               2014
                                                          Tax Year              Tax Year          Tax Year
                                                             Rate                    Rate                 Rate
City of Charlottesville    434.970.3136      $ 0.95                   0.95                 0.95
Albemarle County         434.296.5856      $ 0.742                 0.762               0.799
Greene County             434.985.5211      $ 0.69                   0.69                 0.69
Fluvanna County           434.591.1945      $ 0.50                  0.57                  0.795
Louisa County               540.967.3435      $ 0.62                  0.62                   0.65
Orange County             540.672.3313       $ 0.47                  0.72                  0.72
Nelson County              434.263.7070       $ 0.55                  0.55                     0.60
 Madison County                                                                                                                      0.67
All information is believed accurate, but not guaranteed.  To confirm this data, it is suggested that you contact the tax jurisdiction direct.  Real Estate Taxes
Charlottesville Real Estate
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Copyright ©2004-2009 Charlottesville Area Association of Realtors®. All rights reserved. Information deemed to be reliable but not guaranteed. The data relating to real estate for sale on this website comes in part from the IDX Program of Charlottesville Area Association of Realtors®. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. Any use of search facilities of data on this site other than by a consumer interested in the purchase of real estate, is prohibited. Information last updated on Wednesday, November 25, 2009.


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