Example of Fauquier County Property Tax Calculation
Fauquier County Property Tax calculation is based on the value of the property owned by the taxpayer. The county assesses the value of the property each year and applies a tax rate to determine the property tax owed.
For example, let's say Mr. Brown owns a property with a value of $200,000 in Fauquier County. The county has set the tax rate at $1 per $100 of assessed value. To calculate Mr. Brown's property tax, we need to take the assessed value of his property and multiply it by the tax rate.
Assuming the assessed value of Mr. Brown's property is also $200,000, the calculation would look like this:
$200,000 ÷ 100 = $2,000 (assessed value divided by 100 to get the value per dollar)
$2,000 x $1 = $2,000 (value per dollar multiplied by the tax rate)
Therefore, Mr. Brown's property tax owed to Fauquier County would be $2,000 for the year.
It is important to note that Fauquier County may offer exemptions or deductions to certain taxpayers, such as senior citizens or veterans. These exemptions can reduce the amount of property tax owed.
If you want appeal your property tax assessment - contact your local tax assessor.
Fauquier County Property Tax Rates
The Fauquier County Property Tax rates for the year 2021 are as follows:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| Real Property | $1.0390 |
| Personal Property | $4.95 |
| Machinery and Tools | $2.50 |
| Mobile Homes | $1.0390 |
| Boats and Watercraft | $1.00 |
Note that these rates are subject to change and may vary depending on the location and type of property. It is important to consult with a qualified tax advisor for accurate and up-to-date information regarding property taxes.
Who sets property tax rates in Fauquier County ?
Who sets property tax rates in Fauquier County?
The Fauquier County Board of Supervisors sets property tax rates in Fauquier County. It is an elected body of 5 representatives who oversee county operations and approve the county’s budget. The board meets every month and is responsible for setting property tax rates based on the county’s needs and priorities.
When are property tax rates set in Fauquier County?
Property tax rates in Fauquier County are set annually in the month of May. The Board of Supervisors reviews the county’s revenue and expenditure projections for the upcoming fiscal year and determines the appropriate tax rate necessary to fund county operations and services. Once the tax rate is set, property owners in Fauquier County will receive their property tax bills in the following months.
If you have any further questions or concerns about property taxes in Fauquier County, it is recommended that you reach out to a local tax advisor or contact the Fauquier County Tax Office for more information.
When is Fauquier County Property Tax due ?
Fauquier County Property Tax is typically due on December 5th every year. There are multiple payment methods available which include:
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Online Payment: Taxpayers can pay their property tax online via the Fauquier County website using eCheck, debit card or credit card.
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Mail-in Payment: Taxpayers can mail their payment to the Fauquier County Treasurer's office. The address is:
Fauquier County Treasurer P.O. Box 677 Warrenton, VA 20188
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In-Person Payment: Taxpayers can pay their property tax in person at the Fauquier County Treasurer's office located at:
10 Hotel Street, Suite 106 Warrenton, VA 20186
It's important to note that there may be additional fees for using credit or debit cards to make a payment. It is recommended to check with the Fauquier County Treasurer's office for any updated information or changes to the payment methods.
If you have more questions - contact your local tax collector.
Homestead exemptions in Fauquier County ?
Table of Fauquier County Homestead Exemptions and Deductions
| Exemption/Deduction | Eligibility | Amount | Notes |
|---|---|---|---|
| Real Estate Tax Exemption | Homeowners over 65 or permanently disabled | 100% | Must apply annually |
| Disabled Veterans Exemption | Honorably discharged veterans with 100% service-connected disability | Up to $10,000 | Must file annually |
| Surviving Spouse Exemption | Surviving spouse of a service member killed in action | 100% | Must apply within two years of death |
| Machinery and Tools Exemption | Businesses using machinery and tools in production | Varies | Must file annually |
| Business Property Tax Exemption | Businesses with less than $20,000 in tangible personal property | 100% | Must file annually |
| Solar Energy Equipment Exemption | Property owners with solar energy systems installed | 100% | Must apply and provide documentation |
Notes:
- These exemptions and deductions are specific to Fauquier County and may not apply in other counties or states.
- Eligibility requirements may vary for each exemption or deduction, so be sure to check with the county or state for specific details.
- It is important to note that some exemptions may require annual filing or documentation in order to continue receiving the benefit.
How is Fauquier County Property Tax penalty calculated ?
Introduction
Fauquier County Property Tax is a tax that is levied on the owner of a property in Fauquier County, Virginia. If the property owner fails to pay the property tax on time, a penalty will be added to the tax amount. In this article, we will explain how the Fauquier County Property Tax penalty is calculated and provide an example.
Calculation of Fauquier County Property Tax Penalty
The Fauquier County Property Tax penalty is calculated as a percentage of the unpaid tax amount. The penalty rate varies depending on how long the tax has been unpaid. Here is a table showing the penalty rates for different periods of delinquency:
| Period of Delinquency | Penalty Rate |
|---|---|
| Less than 30 days | None |
| 30-60 days | 3% |
| 61-90 days | 6% |
| 91-120 days | 9% |
| More than 120 days | 10% |
For example, if a property owner owes $2,000 in property tax and fails to pay it on time, the penalty for being delinquent for 60 days would be $60 (3% of $2,000).
Conclusion
Fauquier County Property Tax penalty is a percentage of the unpaid tax amount and varies depending on how long the tax has been unpaid. It is important for property owners to pay their property tax on time to avoid penalties.
We recommend contacting the Fauquier County Tax Office or a local tax professional for the most up-to-date and accurate information.