Appomattox, Virginia Property Taxes
The median property tax rate in Appomattox, VA is 0.63%, which is significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $122,000 in Appomattox, the typical annual property tax bill amounts to $757, well below the national median of $2,690. Property taxes in Appomattox are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Appomattox'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 Appomattox or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Appomattox, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$769
Ownwell’s Appomattox Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Appomattox with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Appomattox 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 Appomattox, Virginia
Property taxes in Appomattox, Virginia, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Appomattox is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Appomattox set these rates annually, and they can vary significantly across different neighborhoods. Each year, Appomattox 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 Appomattox's effective property tax rate to other counties in Virginia and the national median. For comparison, the 24522 zip code has both the highest and lowest median property tax rate of 0.63%. Understanding how these cities compare with Appomattox provides valuable insights into the varying tax landscape across Appomattox County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Appomattox Tax Rate
0.63%
Average Appomattox County Tax Rate
0.63%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Appomattox, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24522 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Appomattox, Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Appomattox, 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 local appraisal authority 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 Appomattox, 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 Appomattox helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $757, found in the 24522 zip code, highlighting the uniformity in property tax assessments within the region.
Average Appomattox Assessed Value
$122,000
Average Appomattox County Assessed Value
$118,500
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Appomattox, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24522 | $39,500 | $75,000 | $122,000 | $174,000 | $236,740 |
Source: Ownwell
Property Tax Bills Across Appomattox, Virginia
In Appomattox, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in Appomattox stands at $122,000. Tax rates in this region are applied to this assessed value to determine the annual tax bill. Homeowners in Appomattox typically see a tax bill ranging from $462 at the 25th percentile to $1,484 at the 90th percentile, with the median tax bill being $757. This median tax bill is significantly lower than the national median property tax rate of 0.99%. Several factors influence the assessed value of a property, including market conditions, property size, and improvements made to the home. These factors ultimately affect the homeowner's annual tax bill. For homeowners, understanding these variables is crucial, as they directly impact the affordability and financial planning associated with homeownership in Appomattox. The relatively lower tax bills can be a financial advantage for residents in this region compared to the national average.
Average Appomattox Tax Bill
$757
Average Appomattox County Tax Bill
$735
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Appomattox, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24522 | $225 | $462 | $757 | $1,090 | $1,484 |
Source: Ownwell