Pembroke, Virginia Property Taxes
The median property tax rate in Pembroke, VA is 0.68%, considerably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Pembroke at $108,100, the typical annual property tax bill reaches $711, significantly below the national median of $2,690. Property taxes in Pembroke are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Pembroke'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 Pembroke 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
Pembroke, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$735
Ownwell’s Pembroke Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Pembroke with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pembroke 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 Pembroke, Virginia
Property taxes in Pembroke, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pembroke is 0.68%, which is lower than the U.S. national median of 0.99%. Local government entities within Pembroke set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pembroke 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 Pembroke's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 24136 has both the highest and lowest median property tax rate of 0.68%. Understanding how these cities compare with Pembroke 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 Pembroke 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 Pembroke, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24136 | 0.64% | 0.68% | 0.68% | 0.68% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Pembroke, Virginia
In Pembroke, 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 Pembroke, 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. For instance, the median home price in Pembroke is $108,100, with tax bills ranging from $492 at the 25th percentile to $1,641 at the 90th percentile. The highest and lowest median tax bills both stand at $711 in the 24136 zip code. 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 Pembroke Assessed Value
$108,100
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 Pembroke, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24136 | $47,690 | $74,700 | $108,100 | $168,250 | $264,720 |
Source: Ownwell
Property Tax Bills Across Pembroke, Virginia
In Pembroke, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the Giles County Assessor's Office. The median home price in Pembroke is $108,100, and the property tax rate in this region is applied to this assessed value to determine the annual tax bill. Several factors are considered in this assessment, including the property's location, size, and any improvements made to it. Homeowners in Pembroke can expect their tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $492, while at the 75th percentile, it rises to $1081. At the 90th percentile, it can reach up to $1641. This range reflects differences in property values and the specific characteristics of each home. Compared to the national median property tax rate of 0.99%, Pembroke's rates can be relatively moderate, offering some financial relief to homeowners. Understanding these factors helps homeowners anticipate their annual tax obligations and plan accordingly.
Average Pembroke Tax Bill
$711
Average Giles County Tax Bill
$654
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Pembroke, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24136 | $269 | $492 | $711 | $1,081 | $1,641 |
Source: Ownwell