Burnsville, Virginia Property Taxes
The median property tax rate in Burnsville, VA is 0.60%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Burnsville at $96,000, the typical annual property tax bill amounts to $576, which is well below the national median of $2,690. Property taxes in Burnsville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Burnsville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Burnsville 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
Burnsville, Virginia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$1,780
Ownwell’s Burnsville Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Burnsville. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Burnsville to provide an accurate estimate of your property tax bill. This tool is designed to help you understand your potential tax liabilities better. For those interested in more detailed insights, scroll down to explore trends at the neighborhood level. Your property’s assessed value is determined by the county for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Burnsville, Virginia
Property taxes in Burnsville, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burnsville is 0.60%, lower than the U.S. national median of 0.99%. Local government entities within Burnsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burnsville 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 Burnsville's effective property tax rate to other counties in Virginia and the national median. For comparison, the 24487 zip code has both the highest and lowest median property tax rate of 0.60%. Understanding how these cities compare with Burnsville provides valuable insights into the varying tax landscape across Bath County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burnsville Tax Rate
0.60%
Average Bath County Tax Rate
0.60%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burnsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24487 | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Burnsville, Virginia
In Burnsville, 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 Bath 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 Burnsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Burnsville, the median home price is $96,000, with the highest and lowest median tax bills both being $576 in zip code 24487.
Average Burnsville Assessed Value
$96,000
Average Bath County Assessed Value
$145,400
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burnsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24487 | $96,000 | $96,000 | $96,000 | $96,000 | $96,000 |
Source: Ownwell
Property Tax Bills Across Burnsville, Virginia
In Burnsville, property tax bills are calculated based on the assessed value of a home, which is determined by the Bath County tax assessor. The median home price in Burnsville is $96,000. To calculate the property tax bill, the assessed value is multiplied by the local property tax rate. In Bath County, this rate is set by local government officials and can vary annually. For example, the median property tax bill in Burnsville is $576, which is significantly lower than the national median property tax rate of 0.99%. Factors that influence the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. Homeowners in Burnsville benefit from relatively low property tax bills compared to national averages, making it an attractive area for those looking to minimize their annual tax expenses. This lower tax burden can positively impact homeowners by reducing their overall housing costs, thereby freeing up funds for other expenses or investments.
Average Burnsville Tax Bill
$576
Average Bath County Tax Bill
$864
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Burnsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24487 | $576 | $576 | $576 | $576 | $576 |
Source: Ownwell