Wingina, Virginia Property Taxes
The median property tax rate in Wingina, VA is 0.65%, which is notably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $77,000 in Wingina, the typical annual property tax bill amounts to $382, significantly less than the national median of $2,690. Property taxes in Wingina are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Wingina'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 Wingina or another part of Nelson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wingina, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$501
Ownwell’s Wingina Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wingina with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wingina 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 Wingina, Virginia
Property taxes in Wingina, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wingina is 0.65%, lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Wingina set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wingina 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 Wingina's effective property tax rate to other counties in Virginia and the national median. For comparison, the 24599 zip code has the highest median property tax rate of 0.65%, while the same zip code also has the lowest median tax rate of 0.65%. Understanding how these cities compare with Wingina provides valuable insights into the varying tax landscape across Nelson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wingina Tax Rate
0.65%
Average Nelson County Tax Rate
0.65%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wingina, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24599 | 0.27% | 0.65% | 0.65% | 0.65% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Wingina, Virginia
In Wingina, 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 Nelson 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 Wingina, 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. For example, Wingina's highest and lowest median tax bills are both $382.00 in the 24599 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wingina Assessed Value
$77,000
Average Nelson County Assessed Value
$144,600
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wingina, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24599 | $7,900 | $15,200 | $77,000 | $165,600 | $391,640 |
Source: Ownwell
Property Tax Bills Across Wingina, Virginia
In Wingina, located in Nelson County, VA, property tax bills are determined by assessing the value of a property and applying the local tax rate to that assessed value. The median home price in Wingina is $77,000, which serves as a baseline for calculating property taxes. Homeowners can expect their tax bills to vary based on where their property falls within the valuation spectrum. For example, the 25th percentile tax bill is $91, while the 75th percentile tax bill is $1069, and the 90th percentile tax bill reaches $1979. These variations indicate how the assessed value of a home can significantly impact the annual property tax bill. Factors such as property improvements, market conditions, and local tax policies also play a role in determining the final amount. Despite these fluctuations, the highest and lowest median tax bills in the area are both $382, highlighting some level of consistency within the zip code 24599. For homeowners, understanding these factors is crucial for financial planning and anticipating annual property tax obligations.
Average Wingina Tax Bill
$382
Average Nelson County Tax Bill
$896
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Wingina, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24599 | $28 | $91 | $382 | $1,069 | $1,979 |
Source: Ownwell