Little Plymouth, Virginia Property Taxes
The median property tax rate in Little Plymouth, VA is 0.55%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Little Plymouth, the typical annual property tax bill reaches $976, well below the national median of $2,690. Property taxes in Little Plymouth 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 Little Plymouth'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 Little Plymouth 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
Little Plymouth, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$976
Ownwell’s Little Plymouth Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Little Plymouth with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Little Plymouth 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 Little Plymouth, Virginia
Property taxes in Little Plymouth, Virginia, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Little Plymouth is 0.55%, which is below both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Little Plymouth set these rates annually, and they can vary significantly across different neighborhoods. Each year, Little Plymouth 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 Little Plymouth's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 23091 has the highest median property tax rate of 0.55%, while the same zip code also has the lowest median tax rate of 0.55%. Understanding how these areas compare with Little Plymouth provides valuable insights into the varying tax landscape across King and Queen County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Little Plymouth Tax Rate
0.55%
Average King And Queen County Tax Rate
0.55%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Little Plymouth, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23091 | 0.55% | 0.55% | 0.55% | 0.55% | 0.55% |
Source: Ownwell
Property Tax Assessment Values Across Little Plymouth, Virginia
In Little Plymouth, 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 King and Queen 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 Little Plymouth, 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 Little Plymouth helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both recorded at $976.00 in the 23091 zip code.
Property Tax Assessment Values Across Little Plymouth, Virginia
Source: Ownwell
$112,200
$144,850
$177,500
Average Little Plymouth Assessed Value
$177,500
Average King And Queen County Assessed Value
$136,200
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Little Plymouth, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23091 | $75,720 | $115,400 | $177,500 | $309,100 | $447,860 |
Source: Ownwell
Property Tax Bills Across Little Plymouth, Virginia
In Little Plymouth, property tax bills are calculated based on the assessed value of a home and the local tax rate set by King and Queen County. The assessed value is determined by the county assessor and reflects the property's market value. Homeowners in Little Plymouth can expect to pay property taxes that vary significantly based on their home's assessed value and the specific tax rate applied. For instance, the median home price in the area is $177,500, and tax bills can range widely. At the 25th percentile, homeowners might pay around $635, while those at the 75th percentile could see bills as high as $1,700. The 90th percentile tax bill reaches $2,463. The highest and lowest median tax bills within the zip code 23091 are both $976, which is below the national median property tax rate of 0.99%. These property taxes fund essential community services, impacting homeowners by contributing to local schools, infrastructure, and public safety.
Average Little Plymouth Tax Bill
$976
Average King And Queen County Tax Bill
$749
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Little Plymouth, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23091 | $416 | $635 | $976 | $1,700 | $2,463 |
Source: Ownwell