Saluda, Virginia Property Taxes
The median property tax rate in Saluda, VA is 0.55%, considerably 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 $146,900, the typical annual property tax bill reaches $808, significantly below the national median of $2,690. Property taxes in Saluda 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 Saluda'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 Saluda or another part of King and Queen County, 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
0.55%
Estimate Property Tax Bill
$808
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, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saluda is 0.55%, lower than 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 23149 zip code 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 cities compare with Saluda 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 Saluda 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 Saluda, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23149 | 0.55% | 0.55% | 0.55% | 0.55% | 0.55% |
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 local 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 at $808, while the zip code with the lowest median tax bill is also 23149 at $808.
Average Saluda Assessed Value
$146,900
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 Saluda, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23149 | $69,080 | $101,000 | $146,900 | $197,750 | $265,460 |
Source: Ownwell
Property Tax Bills Across Saluda, Virginia
In Saluda, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is typically a percentage of the market value of the property. Homeowners in Saluda pay property taxes based on this assessed value, multiplied by the local tax rate. For instance, with a median home price of $146,900, the tax bill can vary significantly. The 25th percentile of property tax bills in Saluda is around $556, while the 75th percentile reaches $1,088. At the 90th percentile, homeowners might see tax bills as high as $1,460. These tax bills are influenced by various factors, including property size, location, and improvements. Compared to the national median property tax rate of 0.99%, Saluda's property tax rates provide a point of comparison for homeowners. Understanding these factors helps homeowners anticipate their tax obligations and plan accordingly, ensuring they are financially prepared for their property tax responsibilities.
Average Saluda Tax Bill
$808
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 Saluda, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23149 | $380 | $556 | $808 | $1,088 | $1,460 |
Source: Ownwell