Burgess, Virginia Property Taxes
The median property tax rate in Burgess, VA is 0.61%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Burgess, the typical annual property tax bill reaches $903, well below the national median of $2,690. Property taxes in Burgess 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 Burgess'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 Burgess or another part of Northumberland County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Burgess, Virginia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$1,780
Ownwell’s Burgess Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Burgess with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Burgess 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 Burgess, Virginia
Property taxes in Burgess, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Burgess 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 Burgess set these rates annually, and they can vary significantly across different neighborhoods. Each year, Burgess 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 Burgess's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 22432 has both the highest and lowest median property tax rate of 0.61%. Understanding how these cities compare with Burgess provides valuable insights into the varying tax landscape across Northumberland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Burgess Tax Rate
0.61%
Average Northumberland County Tax Rate
0.61%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Burgess, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22432 | 0.61% | 0.61% | 0.61% | 0.61% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Burgess, Virginia
In Burgess, 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 Northumberland 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 Burgess, 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 Burgess helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 22432, with a value of $903, while the lowest median tax bill is also $903 in the same zip code.
Average Burgess Assessed Value
$148,000
Average Northumberland County Assessed Value
$188,200
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Burgess, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22432 | $45,780 | $88,450 | $148,000 | $303,050 | $448,820 |
Source: Ownwell
Property Tax Bills Across Burgess, Virginia
In Burgess, Northumberland County, VA, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Once the assessed value is established, it is multiplied by the local property tax rate to determine the annual tax bill. For instance, with a median home price of $148,000, homeowners can expect different tax bills depending on their property's specific assessed value and applicable exemptions. Factors influencing the tax bill include the property's assessed value, any applicable exemptions, and the local tax rate. In Burgess, the tax bill can vary significantly, with the 25th percentile at $533 and the 75th percentile at $1,849, while the 90th percentile reaches up to $2,731. Comparing these figures to the national median property tax rate of 0.99%, homeowners in Burgess may find their tax bills to be relatively moderate or high, impacting their overall housing costs and budget planning.
Average Burgess Tax Bill
$903
Average Northumberland County Tax Bill
$1,131
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Burgess, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22432 | $253 | $533 | $903 | $1,849 | $2,731 |
Source: Ownwell