Hardyville, Virginia Property Taxes
The median property tax rate in Hardyville, VA is 0.61%, considerably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Hardyville at $291,400, the typical annual property tax bill reaches $1,762, well below the national median of $2,690. Property taxes in Hardyville 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 Hardyville'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 Hardyville or another part of Middlesex County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hardyville, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$1,778
Ownwell’s Hardyville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hardyville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hardyville 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 Hardyville, Virginia
Property taxes in Hardyville, Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hardyville is 0.61%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Hardyville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hardyville 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 Hardyville's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 23070 has the highest median property tax rate of 0.61%, while the same zip code also has the lowest median tax rate of 0.61%. Understanding how these areas compare with Hardyville provides valuable insights into the varying tax landscape across Middlesex County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hardyville Tax Rate
0.61%
Average Middlesex County Tax Rate
0.61%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hardyville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23070 | 0.61% | 0.61% | 0.61% | 0.61% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Hardyville, Virginia
In Hardyville, 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 Middlesex 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. In Hardyville, 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 Hardyville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Hardyville is $291,400, with the highest and lowest median tax bills both being $1,762 in zip code 23070.
Average Hardyville Assessed Value
$291,400
Average Middlesex County Assessed Value
$256,200
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hardyville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23070 | $179,420 | $227,900 | $291,400 | $401,700 | $563,400 |
Source: Ownwell
Property Tax Bills Across Hardyville, Virginia
In Hardyville, VA, property tax bills are calculated based on the assessed value of your property and the local tax rate. The assessed value is determined by the county's property assessor, who evaluates your property's market value. For instance, the median home price in Hardyville is $291,400. The local tax rate is then applied to this assessed value to determine your tax bill. Several factors influence the assessed value, including the property's size, age, location, and condition. Homeowners in Hardyville can expect their tax bills to vary significantly. For example, tax bills in the 25th percentile are around $1,383, while those in the 75th percentile reach up to $2,395. The highest tax bills, in the 90th percentile, can be as much as $3,344. Understanding these factors helps homeowners anticipate their property tax obligations. Compared to the national median property tax rate of 0.99%, Hardyville's property tax bills reflect the local economic conditions and property values, impacting homeowners' annual financial planning.
Average Hardyville Tax Bill
$1,762
Average Middlesex County Tax Bill
$1,538
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Hardyville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23070 | $1,094 | $1,383 | $1,762 | $2,395 | $3,344 |
Source: Ownwell