Doswell, Virginia Property Taxes
The median property tax rate in Doswell, VA is 0.77%, which is lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Doswell at $177,600, the typical annual property tax bill amounts to $1,368, well below the national median of $2,690. Property taxes in Doswell are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Doswell'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 Doswell or another part of Caroline County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Doswell, 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 Doswell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Doswell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Doswell 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 Doswell, Virginia
Property taxes in Doswell, Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Doswell is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Doswell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Doswell 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 Doswell's effective property tax rate to other counties in Virginia and the national median. For comparison, the 23047 zip code has both the highest and lowest median property tax rate in the area at 0.77%. Understanding how these areas compare with Doswell provides valuable insights into the varying tax landscape across Caroline County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Doswell Tax Rate
0.77%
Average Caroline County Tax Rate
0.77%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Doswell, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23047 | 0.77% | 0.77% | 0.77% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Doswell, Virginia
In Doswell, 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 Caroline 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 Doswell, 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. The median home price in Doswell is $177,600, with tax bills ranging from $967 at the 25th percentile to $2,635 at the 90th percentile. 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 Doswell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Doswell Assessed Value
$177,600
Average Caroline County Assessed Value
$198,200
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Doswell, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23047 | $94,910 | $125,575 | $177,600 | $267,825 | $342,250 |
Source: Ownwell
Property Tax Bills Across Doswell, Virginia
In Doswell, located in Caroline County, VA, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county's assessor and reflects the property's market value. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, with a median home price of $177,600, homeowners can expect a variety of tax bills. The 25th percentile tax bill is around $967, while the 75th percentile reaches up to $2,062, and the 90th percentile can go as high as $2,635. These figures show that property taxes can vary significantly based on the assessed value and the specific characteristics of the property. Compared to the national median property tax rate of 0.99%, Doswell's tax implications can have a notable impact on homeowners, influencing their annual financial planning and overall housing costs.
Average Doswell Tax Bill
$1,368
Average Caroline County Tax Bill
$1,559
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Doswell, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23047 | $731 | $967 | $1,368 | $2,062 | $2,635 |
Source: Ownwell