Eggleston, Virginia Property Taxes
The median property tax rate in Eggleston, VA is 0.68%, which is lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $110,650, the typical annual property tax bill in Eggleston is $642, significantly below the national median of $2,690. Property taxes in Eggleston are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Eggleston'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 Eggleston or another part of Giles County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Eggleston, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$752
Ownwell’s Eggleston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eggleston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eggleston 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 Eggleston, Virginia
Property taxes in Eggleston, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eggleston is 0.68%, lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Eggleston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eggleston 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 Eggleston's effective property tax rate to other counties in Virginia and the national median. For comparison, the 24086 zip code has both the highest and lowest median property tax rate of 0.68%. Understanding how these cities compare with Eggleston 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 Eggleston Tax Rate
0.68%
Average Giles County Tax Rate
0.68%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eggleston, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24086 | 0.44% | 0.68% | 0.68% | 0.68% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Eggleston, Virginia
In Eggleston, 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 Eggleston, 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 Eggleston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 24086, with a median tax bill of $642.
Average Eggleston Assessed Value
$110,650
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 Eggleston, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24086 | $36,340 | $70,625 | $110,650 | $169,350 | $286,840 |
Source: Ownwell
Property Tax Bills Across Eggleston, Virginia
In Eggleston, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the Giles County tax assessor. The median home price in Eggleston is $110,650. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For homeowners in Eggleston, property tax bills can vary significantly. At the 25th percentile, the tax bill is approximately $439, while at the 75th percentile, it rises to about $1090. For those in the 90th percentile, the tax bill can reach up to $1577. Several factors influence the assessed value, including the property's market value, location, and any improvements made to the home. These property taxes are crucial as they fund local services such as schools, infrastructure, and emergency services. For homeowners, understanding how their tax bill is determined helps them anticipate their annual expenses and plan their finances accordingly. Compared to the national median property tax rate of 0.99%, Eggleston's tax rates reflect the specific needs and budgetary requirements of Giles County.
Average Eggleston Tax Bill
$642
Average Giles County Tax Bill
$654
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Eggleston, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24086 | $240 | $439 | $642 | $1,090 | $1,577 |
Source: Ownwell