Gladstone, Virginia Property Taxes
The median property tax rate in Gladstone, VA is 0.61%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Gladstone at $97,000, the typical annual property tax bill is $583, well below the national median of $2,690. Property taxes in Gladstone are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Gladstone's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Gladstone 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
Gladstone, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$592
Ownwell’s Gladstone Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gladstone with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gladstone 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 Gladstone, Virginia
Property taxes in Gladstone, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gladstone is 0.61%, which is lower than the U.S. national median of 0.99%. Local government entities within Gladstone set these rates annually, and they can vary significantly across different neighborhoods. Each year, Gladstone 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 Gladstone's effective property tax rate to other areas in Virginia and the national median. For comparison, the 24553 zip code has the highest median property tax rate of 0.61%, while the same zip code also has the lowest median tax rate of 0.61%. Understanding how these areas compare with Gladstone provides valuable insights into the varying tax landscape across Amherst County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gladstone Tax Rate
0.61%
Average Amherst County Tax Rate
0.61%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gladstone, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24553 | 0.39% | 0.61% | 0.61% | 0.61% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Gladstone, Virginia
In Gladstone, Virginia, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. 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 Amherst 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. 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 Gladstone helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Gladstone, the median tax bill can vary, with the highest median tax bill being $583 in the 24553 zip code.
Average Gladstone Assessed Value
$97,000
Average Amherst County Assessed Value
$130,550
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gladstone, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24553 | $29,620 | $53,400 | $97,000 | $157,500 | $290,060 |
Source: Ownwell
Property Tax Bills Across Gladstone, Virginia
In Gladstone, VA, property tax bills are calculated based on the assessed value of your home. The local government assesses properties to determine their market value, which serves as the basis for calculating property taxes. This assessed value is then multiplied by the local tax rate to determine your annual property tax bill. Various factors, such as property size, location, and market conditions, can influence the assessed value. For homeowners in Gladstone, the median home price is $97,000. Property tax bills can vary significantly, with the 25th percentile at $308 and the 75th percentile at $914. At the 90th percentile, homeowners might see tax bills as high as $1,463. Comparatively, the national median property tax rate is 0.99%, highlighting how local rates and property values can impact what you owe. Understanding these factors helps homeowners anticipate their tax obligations and plan their finances accordingly.
Average Gladstone Tax Bill
$583
Average Amherst County Tax Bill
$778
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Gladstone, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24553 | $152 | $308 | $583 | $914 | $1,463 |
Source: Ownwell