Nassawadox, Virginia Property Taxes
The median property tax rate in Nassawadox, 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 a median home value of $98,550 in Nassawadox, the typical annual property tax bill amounts to $749, significantly below the national median of $2,690. Property taxes in Nassawadox are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Nassawadox'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 Nassawadox 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
Nassawadox, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$749
Ownwell’s NASSAWADOX Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in NASSAWADOX with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in NASSAWADOX 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 Nassawadox, Virginia
Property taxes in Nassawadox, Virginia, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Nassawadox is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Nassawadox set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nassawadox 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 Nassawadox's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 23413 has the same median property tax rate of 0.76%. Understanding how these cities compare with Nassawadox 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 Nassawadox 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 Nassawadox, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23413 | 0.76% | 0.76% | 0.76% | 0.76% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Nassawadox, Virginia
In Nassawadox, 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 Nassawadox, 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 Nassawadox is $98,550, with tax bills ranging from $455 at the 25th percentile to $1,618 at the 90th percentile. The highest and lowest median tax bills in the area are both $749 in the 23413 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Nassawadox Assessed Value
$98,550
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 Nassawadox, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23413 | $38,770 | $59,900 | $98,550 | $146,950 | $212,920 |
Source: Ownwell
Property Tax Bills Across Nassawadox, Virginia
Property tax bills in Nassawadox, located in Northampton County, Virginia, are calculated based on the assessed value of a property, which is determined by the local tax assessor. The median home price in this area is $98,550. Once the property’s assessed value is established, the local tax rate is applied to calculate the annual tax bill. Several factors influence the tax bill, including the property's location, size, and condition. For instance, homeowners in Nassawadox can expect tax bills ranging from the 25th percentile at $455 to the 75th percentile at $1,117, with the 90th percentile reaching up to $1,618. These figures demonstrate the variability in tax bills depending on individual property assessments. The property tax rate in Northampton County is relatively low compared to the national median property tax rate of 0.99%, which can be beneficial for homeowners. Lower tax bills can make homeownership more affordable, potentially increasing the appeal of living in Nassawadox.
Average Nassawadox Tax Bill
$749
Average Northampton County Tax Bill
$1,083
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Nassawadox, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23413 | $295 | $455 | $749 | $1,117 | $1,618 |
Source: Ownwell