Max Meadows, Virginia Property Taxes
The median property tax rate in Max Meadows, VA is 0.59%, which is notably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $150,950 in Max Meadows, the typical annual property tax bill is $891, significantly below the national median of $2,690. Property taxes in Max Meadows are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Max Meadows' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Max Meadows or another part of Carroll County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Max Meadows, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$891
Ownwell’s Max Meadows Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Max Meadows with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Max Meadows 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 Max Meadows, Virginia
Property taxes in Max Meadows, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Max Meadows is 0.59%, significantly lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Max Meadows set these rates annually, and they can vary significantly across different neighborhoods. Each year, Max Meadows 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 Max Meadows' effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 24360 has the highest median property tax rate of 0.59%, while the same zip code also has the lowest median tax rate of 0.59%. Understanding how these areas compare with Max Meadows provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Max Meadows Tax Rate
0.59%
Average Carroll County Tax Rate
0.59%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Max Meadows, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24360 | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Max Meadows, Virginia
In Max Meadows, 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 Carroll 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 Max Meadows, 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 Max Meadows helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 24360 has both the highest and lowest median tax bill at $891.
Average Max Meadows Assessed Value
$150,950
Average Carroll County Assessed Value
$88,700
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Max Meadows, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24360 | $27,400 | $63,875 | $150,950 | $318,250 | $347,980 |
Source: Ownwell
Property Tax Bills Across Max Meadows, Virginia
Property tax bills in Max Meadows, located in Carroll County, VA, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county's property assessor and reflects the property's market value. Once assessed, the local tax rate is applied to this value to calculate the annual tax bill. For instance, with a median home price of $150,950, homeowners can expect a range of tax bills. At the 25th percentile, the tax bill is around $377, while at the 75th percentile, it rises to $1,878. The tax bill at the 90th percentile reaches $2,053. This variation is influenced by factors such as property size, location, and any applicable exemptions. Comparatively, the median property tax rate in Max Meadows aligns with the national median of 0.99%, making it a significant consideration for homeowners. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Max Meadows Tax Bill
$891
Average Carroll County Tax Bill
$526
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Max Meadows, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24360 | $162 | $377 | $891 | $1,878 | $2,053 |
Source: Ownwell