Fairfield, Rockbridge County, Virginia Property Taxes
Median Fairfield, VA effective property tax rate: 0.61%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%. Median Fairfield, VA home value: $257,800. Median annual Fairfield, VA tax bill: $1,471, $929 lower than the national median property tax bill of $2,400.
How are property taxes in Rockbridge calculated?
Property taxes in Fairfield, 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 Fairfield’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Fairfield, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Fairfield, Rockbridge County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.61%
Estimate Property Tax Bill
$1,573
$1,459
Property Tax Rates Across Fairfield, Rockbridge County, Virginia
Local government entities set tax rates, which can vary widely within a state. Why? 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 Fairfield’s effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S.
Fairfield, located in Rockbridge County, Virginia, has an effective property tax rate of 0.61%, which is significantly lower than the national median of 1.02%. This makes it an attractive location for property owners looking to minimize their tax burden while still benefiting from local services. The consistency in the tax rate across Rockbridge County suggests a stable economic environment, which can be appealing for both current and prospective homeowners. Understanding these rates can help property owners in Fairfield make informed decisions about their investments and financial planning.
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 Fairfield Tax Rate
0.61%
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 Rockbridge County Tax Rate
0.61%
Median Effective Virginia Tax Rate
0.89%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Fairfield, Rockbridge County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24435 | 0.41% | 0.61% | 0.61% | 0.61% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Fairfield, Rockbridge County, Virginia
When examining property taxes in Fairfield, 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 Rockbridge 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 Rockbridge 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 Fairfield.
For example, the median home price in Fairfield is $257,800, with tax bills ranging significantly across the county. Zip code 24435 has the highest median home price at $257,800.
Property Tax Assessment Values Across Fairfield, Rockbridge County, Virginia
Source: Ownwell
$123,300
$252,975
$382,650
Median Fairfield Market Value
$257,800
Median Rockbridge County Market Value
$223,300
Median Virginia Market Value
$298,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Fairfield, Rockbridge County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24435 | $121,840 | $175,850 | $257,800 | $390,800 | $561,600 |
Source: Ownwell
Property Tax Bills Across Fairfield, Rockbridge County, Virginia
In Fairfield, located in Rockbridge County, VA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor, who considers factors such as the property's size, location, and condition. The median home price in Fairfield is $257,800, and the property tax rate is applied to this assessed value to determine the tax bill. Homeowners in Fairfield can expect property tax bills that typically range from the 25th percentile at $985 to the 90th percentile at $3,095. The median property tax bill is $1,471, which is below the national median of $2,400, making it relatively affordable compared to other regions.
Despite this, homeowners may still feel the burden of property taxes. Ownwell offers services to help homeowners in Fairfield potentially reduce their tax bills. By analyzing property assessments and identifying discrepancies, Ownwell assists in filing appeals and securing exemptions, ensuring homeowners pay only their fair share. This can lead to significant savings and financial relief for property owners in the area.
Median Fairfield Tax Bill
$1,471
Median Rockbridge County Tax Bill
$1,277
Median Virginia Tax Bill
$2,608
Median United States Tax Bill
$2,400
Property Tax Bills Across Fairfield, Rockbridge County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24435 | $604 | $985 | $1,471 | $2,187 | $3,095 |
Source: Ownwell