West Augusta, Virginia Property Taxes
The median property tax rate in West Augusta, VA is 0.63%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in West Augusta at $153,800, the typical annual property tax bill is $916, which is well below the national median of $2,690. Property taxes in West Augusta are calculated based on the assessed value, often lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding West Augusta'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 West Augusta 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
West Augusta, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$969
Ownwell’s West Augusta Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in West Augusta with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in West Augusta 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 West Augusta, Virginia
Property taxes in West Augusta, Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in West Augusta is 0.63%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within West Augusta set these rates annually, and they can vary significantly across different neighborhoods. Each year, West Augusta 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 West Augusta's effective property tax rate to other areas in Augusta County and the national median. For comparison, the 24485 zip code has the highest median property tax rate of 0.63%, while the same zip code also has the lowest median tax rate of 0.63%. Understanding how these areas compare with West Augusta provides valuable insights into the varying tax landscape across Augusta County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average West Augusta Tax Rate
0.63%
Average Augusta County Tax Rate
0.63%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across West Augusta, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24485 | 0.36% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across West Augusta, Virginia
In West Augusta, 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 Augusta 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 West Augusta helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills, both at $916, are found in zip code 24485.
Average West Augusta Assessed Value
$153,800
Average Augusta County Assessed Value
$204,500
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across West Augusta, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24485 | $49,200 | $103,768 | $153,800 | $217,583 | $323,610 |
Source: Ownwell
Property Tax Bills Across West Augusta, Virginia
In West Augusta, VA, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. The median home price in West Augusta is $153,800. Property taxes are then applied to this assessed value using the local tax rate. For homeowners, this means that the amount they owe can vary significantly. For instance, the 25th percentile tax bill is $554, while the 75th percentile tax bill is $1,263, and the 90th percentile tax bill reaches $1,620. Several factors influence these variations, including property location, home improvements, and market conditions. Additionally, the highest and lowest median tax bills in the area are both $916, found in the 24485 zip code. Compared to the national median property tax rate of 0.99%, West Augusta’s tax rates are reflective of local economic conditions and municipal budget needs. For homeowners, understanding these factors is crucial for budgeting and financial planning, as property taxes can significantly impact annual expenses.
Average West Augusta Tax Bill
$916
Average Augusta County Tax Bill
$1,250
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across West Augusta, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24485 | $278 | $554 | $916 | $1,263 | $1,620 |
Source: Ownwell