Sperryville, Madison County, Virginia Property Taxes

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

Median Sperryville, 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 Sperryville, VA home value: $204,200
Median annual Sperryville, VA tax bill: $1,436, $964 lower than the national median property tax bill of $2,400.

How are property taxes in Madison calculated?

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

Last Updated March 1, 2025

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

Property Tax Rates Across Sperryville, Madison County, Virginia

Local government entities set tax rates, which can vary widely within a state. This variation is due to the fact that each county annually estimates the budget needed to provide essential services. They then divide this budget by the total value of all taxable property within their jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is the basic annual process.

In Sperryville, located in Madison County, Virginia, the effective property tax rate is a key factor for property owners to consider. It’s beneficial for property owners to compare Sperryville’s property tax rate to other cities in Virginia, as well as to the median tax rates in Virginia and the U.S. Understanding these differences can help property owners make informed decisions about their investments and financial planning. With the national median property tax rate at 1.02%, property owners can assess how Sperryville’s rate aligns with both state and national figures. This comparison can provide valuable insights into potential savings or additional costs associated with property ownership in this area.

Property Tax Rates Across Sperryville, 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 Sperryville 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 Sperryville, Madison County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
22740	0.56%	0.74%	0.74%	0.74%	0.74%

Source: Ownwell

Property Tax Assessment Values Across Sperryville, Madison County, Virginia

When examining property taxes in Sperryville, Virginia, 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 Sperryville. For example, the median home price in Sperryville is $204,200, with tax bills ranging significantly across the county. Zip code 22740 has the highest median home price at $204,200.

Property Tax Assessment Values Across Sperryville, Madison County, Virginia

Source: Ownwell

$124,600

$194,925

$265,250

Median Sperryville 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 Sperryville, Madison County, Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
22740	$111,990	$153,950	$201,100	$306,975	$391,390

Source: Ownwell

Property Tax Bills Across Sperryville, Madison County, Virginia

In Sperryville, located in Madison County, VA, property tax bills are calculated based on the assessed value of the home. The local tax rate is applied to this assessed value to determine the annual property tax bill. With a median home price of $204,200, homeowners in Sperryville can expect their property tax bill to vary significantly. The 25th percentile tax bill is approximately $1,117, while the 75th percentile reaches $2,099, and the 90th percentile can be as high as $2,708. Notably, the median tax bill in Sperryville is $1,436, which is below the national median of $2,400, offering a comparatively lower tax burden for residents. However, homeowners still seek ways to minimize their expenses. Ownwell provides expert property tax appeal and exemption services to help homeowners potentially reduce their tax bills. By leveraging local market data and their extensive expertise, Ownwell can identify opportunities for tax savings, ensuring homeowners only pay their fair share, ultimately easing the financial burden of property ownership.

Property Tax Bills Across Sperryville, Madison County, Virginia

Source: Ownwell

$922

$1,443

$1,963

Median Sperryville Tax Bill

$1,415

Median Madison County Tax Bill

$1,540

Median Virginia Tax Bill

$2,852

Median United States Tax Bill

$2,400

Property Tax Bills Across Sperryville, Madison County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
22740	$731	$1,119	$1,415	$2,063	$2,686

Source: Ownwell