Wingina, Virginia Property Taxes
The median property tax rate in Wingina, VA is 0.55%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value in Wingina at $98,550, the typical annual property tax bill amounts to $539, which is well below the national median of $2,690. Property taxes in Wingina 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 Wingina'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 Wingina or another part of Buckingham County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wingina, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$542
Ownwell’s Wingina Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wingina with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wingina 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 Buckingham County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Wingina, Virginia
Property taxes in Wingina, Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wingina is 0.55%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Wingina set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wingina 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 Wingina's effective property tax rate to other localities in Virginia and the national median. For comparison, the zip code 24599 has the highest median property tax rate of 0.55%, while the same zip code also has the lowest median tax rate of 0.55%. Understanding how these cities compare with Wingina provides valuable insights into the varying tax landscape across Buckingham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wingina Tax Rate
0.55%
Average Buckingham County Tax Rate
0.55%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wingina, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24599 | 0.55% | 0.55% | 0.55% | 0.55% | 0.55% |
Source: Ownwell
Property Tax Assessment Values Across Wingina, Virginia
In Wingina, 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 Buckingham 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 Wingina, 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 Wingina helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Wingina, the highest and lowest median tax bills are both $539.00, found in the 24599 zip code. The median home price is $98,550, with property tax bills ranging from $283 at the 25th percentile to $1,001 at the 90th percentile.
Average Wingina Assessed Value
$98,550
Average Buckingham County Assessed Value
$107,100
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wingina, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24599 | $23,170 | $51,625 | $98,550 | $133,725 | $184,560 |
Source: Ownwell
Property Tax Bills Across Wingina, Virginia
In Wingina, Buckingham County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Wingina is $98,550. Property taxes are then calculated using the local tax rate, which is applied to the assessed value of the property. Homeowners in Wingina can expect their tax bills to vary significantly, with the 25th percentile tax bill being $283 and the 75th percentile reaching $730. For those at the higher end, the 90th percentile tax bill is $1,001. These tax bills are influenced by several factors, including property size, location, and any applicable exemptions. Homeowners need to be aware of these variables as they can significantly impact their annual financial obligations. Compared to the national median property tax rate of 0.99%, Wingina's property taxes can be considered relatively moderate, making it an appealing place for homeowners seeking manageable tax responsibilities.
Average Wingina Tax Bill
$539
Average Buckingham County Tax Bill
$585
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Wingina, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24599 | $123 | $283 | $539 | $730 | $1,001 |
Source: Ownwell