Somerset, Orange County, Virginia Property Taxes

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

Median Somerset, VA effective property tax rate: 0.76%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Somerset, VA home value: $293,900
Median annual Somerset, VA tax bill: $2,246, $154 lower than the national median property tax bill of $2,400.

How are property taxes in Orange County calculated?

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

Last Updated March 1, 2025

Somerset, Orange County, Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.76%

Estimate Property Tax Bill

$2,234

$2,073

Ownwell’s Somerset Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Somerset with just two data points.

By entering your property's estimated assessed value, our calculator applies Somerset’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 Orange County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Somerset, Orange County, Virginia

Local government entities set tax rates, which can vary widely within a state. This is because each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting 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.

In Somerset, located in Orange County, VA, the effective property tax rate stands at 0.76%, which is lower than the national median property tax rate of 1.02%. This means homeowners in Somerset enjoy a more favorable tax environment compared to many other regions in the U.S. The median property tax bill in Somerset also tends to be more manageable, given the lower rate, compared to the national median property tax bill of $2400. This can be an attractive feature for potential homeowners looking to settle in a region with lower property tax liabilities. Comparing Somerset’s effective property tax rate to other cities in Virginia and the national median highlights the relative affordability of owning property in this area.

Property Tax Rates Across Somerset, Orange County, Virginia

Source: Ownwell

0.76%

0.77%

0.78%

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 Somerset Tax Rate

0.76%

Median Effective Orange County Tax Rate

0.76%

Median Effective Virginia Tax Rate

0.89%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Somerset, Orange County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
22972	0.75%	0.75%	0.76%	0.80%	0.88%

Source: Ownwell

Property Tax Assessment Values Across Somerset, Orange County, Virginia

When examining property taxes in Somerset, 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 Orange 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 Orange County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Somerset. For example, the median home price in Somerset is $293,900, with tax bills ranging significantly across the county. Zip code 22972 has the highest median home price at $293,900.

Property Tax Assessment Values Across Somerset, Orange County, Virginia

Source: Ownwell

$183,600

$266,950

$350,300

Median Somerset Market Value

$293,900

Median Orange County Market Value

$231,900

Median Virginia Market Value

$298,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Somerset, Orange County, Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
22972	$129,160	$170,000	$293,900	$504,700	$1,455,220

Source: Ownwell

Property Tax Bills Across Somerset, Orange County, Virginia

In Somerset, located in Orange County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. With a median home price of $293,900, Somerset's property tax bills can vary significantly. For instance, the 25th percentile tax bill is $1,313, while the 75th percentile reaches $4,675, and the 90th percentile can be as high as $11,697. These figures highlight the potential financial burden on homeowners, especially when compared to the national median property tax bill of $2,400. Ownwell offers valuable assistance to homeowners by providing property tax appeal and exemption services. By reviewing assessments and identifying inaccuracies, Ownwell can help reduce the assessed value, leading to lower tax bills. This service not only alleviates financial pressure but also ensures that homeowners pay a fair amount based on accurate property valuations.

Property Tax Bills Across Somerset, Orange County, Virginia

Source: Ownwell

$1,417

$2,090

$2,762

Median Somerset Tax Bill

$2,246

Median Orange County Tax Bill

$1,781

Median Virginia Tax Bill

$2,608

Median United States Tax Bill

$2,400

Property Tax Bills Across Somerset, Orange County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
22972	$990	$1,313	$2,246	$4,675	$11,697

Source: Ownwell