Staffordsville, Virginia Property Taxes
The median property tax rate in Staffordsville, VA is 0.68%, which is notably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Staffordsville at $90,100, the typical annual property tax bill amounts to $602, significantly below the national median of $2,690. Property taxes in Staffordsville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Staffordsville'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 Staffordsville 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
Staffordsville, 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 Staffordsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Staffordsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Staffordsville 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 Staffordsville, Virginia
Property taxes in Staffordsville, Virginia, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Staffordsville is 0.68%, lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Staffordsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Staffordsville 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 Staffordsville's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 24167 has both the highest and lowest median property tax rate of 0.68%. Understanding how these zip codes compare with Staffordsville 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 Staffordsville 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 Staffordsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24167 | 0.56% | 0.68% | 0.68% | 0.68% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Staffordsville, Virginia
In Staffordsville, 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 Staffordsville, 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 Staffordsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price is $90,100, with tax bills ranging from $404 at the 25th percentile to $1,119 at the 90th percentile. The zip code 24167 has the highest and lowest median tax bill of $602.
Property Tax Assessment Values Across Staffordsville, Virginia
Source: Ownwell
$60,850
$113,325
$165,800
Average Staffordsville Assessed Value
$90,100
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 Staffordsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24167 | $29,140 | $61,400 | $90,100 | $127,850 | $211,560 |
Source: Ownwell
Property Tax Bills Across Staffordsville, Virginia
In Staffordsville, located in Giles County, VA, property tax bills are calculated based on the assessed value of a home. The median home price in the area is $90,100. Property taxes are derived by applying the local tax rate to this assessed value. This rate is determined annually by local government authorities and is used to fund essential public services such as schools, infrastructure, and emergency services. Homeowners in Staffordsville can expect their property tax bills to vary depending on their home’s assessed value and the specific tax rate. For instance, the 25th percentile of tax bills is around $404, while the 75th percentile reaches $815, and the 90th percentile can be as high as $1,119. These variations highlight how assessed property values and local tax rates impact the financial obligations of homeowners. Compared to the national median property tax rate of 0.99%, Staffordsville's property tax bills provide a snapshot of the local economic landscape and its influence on household expenses.
Average Staffordsville Tax Bill
$602
Average Giles County Tax Bill
$654
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Staffordsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24167 | $190 | $404 | $602 | $815 | $1,119 |
Source: Ownwell