Harborton, Virginia Property Taxes
The median property tax rate in Harborton, VA is 0.60%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $133,200 in Harborton, the typical annual property tax bill comes to $793, well below the national median of $2,690. Property taxes in Harborton are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Harborton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Harborton or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Harborton, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$799
Ownwell’s Harborton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harborton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harborton to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Harborton, Virginia
Property taxes in Harborton, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Harborton is 0.60%, lower than both the Virginia state median of 0.82% and the U.S. national median of 0.99%. Local government entities within Harborton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harborton estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Harborton's effective property tax rate to other counties in Virginia and the national median. For comparison, the 23389 zip code has the highest median property tax rate of 0.60%, while the 23389 zip code also has the lowest median tax rate of 0.60%. Understanding how these cities compare with Harborton provides valuable insights into the varying tax landscape across Accomack County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Harborton Tax Rate
0.60%
Average Accomack County Tax Rate
0.60%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harborton, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23389 | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Harborton, Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Harborton, Virginia. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Accomack County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Harborton, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Harborton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 23389 has the highest and lowest median tax bill, both at $793.
Average Harborton Assessed Value
$133,200
Average Accomack County Assessed Value
$110,500
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Harborton, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23389 | $32,650 | $103,300 | $133,200 | $196,875 | $288,150 |
Source: Ownwell
Property Tax Bills Across Harborton, Virginia
In Harborton, VA, property tax bills are determined by the assessed value of your home and the local tax rate set by the county. The assessed value is calculated based on various factors, including the property's market value, location, and any improvements made. For example, with a median home price of $133,200, homeowners can expect their tax bills to vary significantly. The tax bill at the 25th percentile is around $615, while at the 75th percentile, it reaches $1,171. For those at the 90th percentile, the tax bill can go up to $1,715. These figures show that property taxes in Harborton can have a considerable impact on homeowners' finances. Compared to the national median property tax rate of 0.99%, Harborton's tax rates reflect the local economic conditions and public service funding needs. Understanding these factors can help homeowners better plan for their annual expenses and potentially explore options for tax appeals or exemptions.
Average Harborton Tax Bill
$793
Average Accomack County Tax Bill
$645
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Harborton, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23389 | $194 | $615 | $793 | $1,171 | $1,715 |
Source: Ownwell