Eastville, Virginia Property Taxes
The median property tax rate in Eastville, VA is 0.76%, which is notably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Eastville at $574,900, the typical annual property tax bill amounts to $4,369, significantly surpassing the national median of $2,690. Property taxes in Eastville are determined based on the tax assessed value, which often falls below the market value due to various exemptions, such as primary residence and agricultural exemptions. Gaining a thorough understanding of Eastville's property tax system, exploring available exemptions, and identifying potential reductions can lead to substantial annual savings. Whether you're located in the heart of Eastville or another part of Northampton County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Eastville, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$4,369
Ownwell’s Eastville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eastville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eastville 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 Eastville, Virginia
Property taxes in Eastville, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Eastville is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Eastville set these rates annually, and they can vary across different neighborhoods. Each year, Eastville 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 Eastville's effective property tax rate to other areas and the national median. For comparison, the zip code 23347 has both the highest and lowest median property tax rate in the region at 0.76%. Understanding how these areas compare with Eastville provides valuable insights into the varying tax landscape across Northampton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Eastville Tax Rate
0.76%
Average Northampton County Tax Rate
0.76%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eastville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23347 | 0.76% | 0.76% | 0.76% | 0.76% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Eastville, Virginia
In Eastville, 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 Northampton 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 Eastville, 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 Eastville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Eastville is $4,369 in zip code 23347, while the lowest median tax bill is also $4,369 in the same zip code.
Average Eastville Assessed Value
$574,900
Average Northampton County Assessed Value
$142,500
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eastville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23347 | $304,500 | $405,900 | $574,900 | $598,700 | $612,980 |
Source: Ownwell
Property Tax Bills Across Eastville, Virginia
In Eastville, Northampton County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. This value is then multiplied by the local property tax rate to determine the annual tax bill. The tax rate in Eastville is influenced by various factors, including the median home price, which stands at $574,900. Homeowners in Eastville can expect tax bills that vary significantly, with the 25th percentile at approximately $3,085 and the 75th percentile at around $4,550. For those in the 90th percentile, tax bills can reach up to $4,659. These property taxes are crucial for funding local services like schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Eastville's rates reflect the region's property values and local government requirements. Homeowners must budget for these taxes, as they can significantly impact overall housing costs and financial planning.
Average Eastville Tax Bill
$4,369
Average Northampton County Tax Bill
$1,083
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Eastville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23347 | $2,314 | $3,085 | $4,369 | $4,550 | $4,659 |
Source: Ownwell