Bland, Virginia Property Taxes
The median property tax rate in Bland, VA is 0.56%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Bland at $114,100, the typical annual property tax bill amounts to $481, which is well below the national median of $2,690. Property taxes in Bland are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bland'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 Bland 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
Bland, 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 Bland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bland 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 Bland, Virginia
Property taxes in Bland, Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bland is 0.56%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Bland set these rates annually, and they can vary across different neighborhoods. Each year, Bland 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. Understanding how Bland's property tax rate compares with other areas provides valuable insights into the varying tax landscape across Giles County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bland Tax Rate
0.56%
Average Giles County Tax Rate
0.68%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bland, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24315 | 0.35% | 0.38% | 0.56% | 0.68% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Bland, Virginia
In Bland, 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 Giles 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 Bland, 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 Bland is $114,100, with property tax bills ranging from $421 at the 25th percentile to $772 at the 90th percentile. Notably, the highest and lowest median tax bills both stand at $481 in zip code 24315. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage their tax burden.
Average Bland Assessed Value
$114,100
Average Giles County Assessed Value
$99,900
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bland, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24315 | $43,340 | $64,050 | $114,100 | $135,650 | $167,120 |
Source: Ownwell
Property Tax Bills Across Bland, Virginia
In Bland, VA, property tax bills are determined based on the assessed value of a home, which is influenced by the median home price of $114,100. The tax rate in Bland is calculated to generate the necessary revenue for local services and infrastructure. Homeowners in Bland can expect tax bills to vary, with the 25th percentile at $421, the 75th percentile at $575, and the 90th percentile reaching up to $772. Several factors contribute to the final tax bill, including property size, location, and any applicable exemptions. For instance, the highest median tax bill in the area is recorded at $481 in the 24315 zip code, which also happens to be the lowest median tax bill, indicating a consistent rate across different properties. Compared to the national median property tax rate of 0.99%, Bland's property tax rates offer a relatively affordable option for homeowners. This affordability can significantly impact household budgets, making Bland an attractive location for property investment and long-term residency.
Average Bland Tax Bill
$481
Average Giles County Tax Bill
$654
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Bland, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24315 | $295 | $421 | $481 | $575 | $772 |
Source: Ownwell