Quinton, Virginia Property Taxes
The median property tax rate in Quinton, VA is 0.67%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Quinton at $310,900, the typical annual property tax bill reaches $2,065, which is below the national median of $2,690. Property taxes in Quinton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Quinton'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 Quinton or another part of New Kent County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Quinton, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$2,083
Ownwell’s Quinton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Quinton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Quinton 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 Quinton, Virginia
Property taxes in Quinton, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Quinton is 0.67%, lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Quinton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Quinton 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 Quinton's effective property tax rate to other counties in Virginia and the national median. For comparison, the 23141 zip code has the highest median property tax rate of 0.67%, while the same zip code also has the lowest median tax rate of 0.67%. Understanding how these cities compare with Quinton provides valuable insights into the varying tax landscape across New Kent County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Quinton Tax Rate
0.67%
Average New Kent County Tax Rate
0.67%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Quinton, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23141 | 0.67% | 0.67% | 0.67% | 0.67% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across Quinton, Virginia
In Quinton, 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 New Kent 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 Quinton, 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. The median home price in Quinton is $310,900, with tax bills ranging significantly. For instance, the 25th percentile tax bill is $1,662, while the 75th percentile tax bill is $2,565, and the 90th percentile tax bill is $3,097. The highest and lowest median tax bills are both found in zip code 23141, at $2,065. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to manage the tax burden effectively.
Average Quinton Assessed Value
$310,900
Average New Kent County Assessed Value
$332,400
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Quinton, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23141 | $196,700 | $250,400 | $310,900 | $384,800 | $462,660 |
Source: Ownwell
Property Tax Bills Across Quinton, Virginia
In Quinton, New Kent County, 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 then multiplied by the local property tax rate to determine the annual tax bill. Factors influencing the assessed value include the home's market value, location, and any improvements made to the property. For instance, the median home price in Quinton is $310,900. Homeowners in Quinton typically face tax bills ranging from $1,662 at the 25th percentile to $3,097 at the 90th percentile, with the median tax bill being around $2,065. This is significantly higher than the national median property tax rate of 0.99%. High property tax bills can impact homeowners by increasing the overall cost of homeownership, potentially affecting affordability and long-term financial planning. Understanding these factors can help homeowners better anticipate their property tax obligations and manage their finances accordingly.
Average Quinton Tax Bill
$2,065
Average New Kent County Tax Bill
$2,199
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Quinton, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23141 | $1,286 | $1,662 | $2,065 | $2,565 | $3,097 |
Source: Ownwell