Saluda, Virginia Property Taxes
The median property tax rate in Saluda, VA is 0.58%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Saluda at $245,780, the typical annual property tax bill is $1,443, well below the national median of $2,690. Property taxes in Saluda are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Saluda’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 Saluda 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
Saluda, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$1,426
Ownwell’s Saluda Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saluda with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saluda 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 Saluda, Virginia
Property taxes in Saluda, Virginia, are essential for funding key local services such as public schools, road maintenance, and emergency services. The median tax rate in Saluda is 0.58%, which is notably lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Saluda set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saluda 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 Saluda's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 23149 has the highest median property tax rate of 0.58%, while also having the lowest median tax rate of 0.58%. Understanding how these cities compare with Saluda provides valuable insights into the varying tax landscape across Gloucester County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Saluda Tax Rate
0.58%
Average Gloucester County Tax Rate
0.58%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saluda, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23149 | 0.58% | 0.58% | 0.58% | 0.58% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Saluda, Virginia
In Saluda, 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 Gloucester 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 Saluda, 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 Saluda helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 23149, with a median tax bill of $1,443.
Average Saluda Assessed Value
$245,780
Average Gloucester County Assessed Value
$281,095
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Saluda, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23149 | $80,244 | $163,575 | $245,780 | $326,075 | $422,145 |
Source: Ownwell
Property Tax Bills Across Saluda, Virginia
In Saluda, VA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the local tax assessor's office and reflects the market value of the property. This value is then multiplied by the property tax rate set by Gloucester County to determine the annual tax bill. Homeowners in Saluda can expect their tax bills to vary significantly. For instance, those at the 25th percentile pay around $944 annually, while those at the 75th percentile pay approximately $1,922. The highest tax bills, at the 90th percentile, reach up to $2,498. The median home price in Saluda is $245,780, and with a national median property tax rate of 0.99%, homeowners in this area experience a range of tax obligations based on their property values. This tax burden can significantly impact homeowners, influencing their overall housing costs and financial planning. Accurate assessments and fair tax rates are crucial for maintaining affordability and ensuring that residents are not overburdened by their property tax bills.
Average Saluda Tax Bill
$1,443
Average Gloucester County Tax Bill
$1,643
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Saluda, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23149 | $474 | $944 | $1,443 | $1,922 | $2,498 |
Source: Ownwell