Blackstone, Virginia Property Taxes
The median property tax rate in Blackstone, VA is 0.38%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $161,000 in Blackstone, the typical annual property tax bill amounts to $612, which is well below the national median of $2,690. Property taxes in Blackstone are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Blackstone'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 Blackstone 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
Blackstone, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.38%
Estimate Property Tax Bill
$612
Ownwell’s Blackstone Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Blackstone with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Blackstone 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 Blackstone, Virginia
Property taxes in Blackstone, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Blackstone is 0.38%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Blackstone set these rates annually, and they can vary significantly across different neighborhoods. Each year, Blackstone 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 Blackstone's effective property tax rate to other counties in Virginia and the national median. For comparison, the highest median property tax rate in Virginia can be found in some zip codes, while the lowest median tax rates are in others. Understanding how these cities compare with Blackstone provides valuable insights into the varying tax landscape across Lunenburg County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Blackstone Tax Rate
0.38%
Average Lunenburg County Tax Rate
0.38%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Blackstone, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23824 | 0.38% | 0.38% | 0.38% | 0.38% | 0.38% |
Source: Ownwell
Property Tax Assessment Values Across Blackstone, Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Blackstone, Virginia. 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 Lunenburg County Assessor 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. Assessment notices in Blackstone 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. For instance, the median home price in Blackstone is $161,000, with property tax bills ranging from $426 at the 25th percentile to $1,107 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Blackstone Assessed Value
$161,000
Average Lunenburg County Assessed Value
$83,400
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Blackstone, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23824 | $57,300 | $103,350 | $161,000 | $223,350 | $290,160 |
Source: Ownwell
Property Tax Bills Across Blackstone, Virginia
In Blackstone, located in Lunenburg County, VA, property tax bills are calculated based on the assessed value of a home. The median home price in this area is $161,000. To determine the tax bill, local authorities apply the property tax rate to the assessed value of the property. Factors such as property size, location, and market conditions can influence the assessed value. Homeowners in Blackstone can expect their property tax bills to vary. For instance, the tax bill at the 25th percentile is $426, while at the 75th percentile, it rises to $853. At the 90th percentile, homeowners may see tax bills as high as $1,107. The highest median tax bill in Blackstone is $612, which is significantly lower than the national median property tax rate of 0.99%. These property tax bills directly impact homeowners' annual expenses, making it crucial for them to understand how their tax obligations are determined and to plan their budgets accordingly.
Average Blackstone Tax Bill
$612
Average Lunenburg County Tax Bill
$320
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Blackstone, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23824 | $229 | $426 | $612 | $853 | $1,107 |
Source: Ownwell