Crewe, Virginia Property Taxes
The median property tax rate in Crewe, VA is 0.48%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $78,700 in Crewe, the typical annual property tax bill is $375, which is well below the national median of $2,690. Property taxes in Crewe are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Crewe'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 Crewe 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
Crewe, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.48%
Estimate Property Tax Bill
$378
Ownwell’s Crewe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Crewe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Crewe 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 Crewe, Virginia
Property taxes in Crewe, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Crewe is 0.48%, which is lower than the U.S. national median of 0.99%. Local government entities within Crewe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Crewe 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 Crewe's effective property tax rate to other areas in Nottoway County and the national median. For comparison, the zip code 23930 has both the highest and lowest median property tax rate of 0.48%. Understanding how these areas compare with Crewe provides valuable insights into the varying tax landscape across Nottoway County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Crewe Tax Rate
0.48%
Average Nottoway County Tax Rate
0.48%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Crewe, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23930 | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% |
Source: Ownwell
Property Tax Assessment Values Across Crewe, Virginia
In Crewe, 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 Nottoway 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 Crewe, 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. The median home price in Crewe is $78,700, with tax bills ranging from $236 at the 25th percentile to $684 at the 90th percentile. Notably, the highest and lowest median tax bills are both $375 in the 23930 zip code. Being aware of these valuation processes in Crewe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Crewe Assessed Value
$78,700
Average Nottoway County Assessed Value
$73,900
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Crewe, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23930 | $29,440 | $49,300 | $78,700 | $112,425 | $142,890 |
Source: Ownwell
Property Tax Bills Across Crewe, Virginia
In Crewe, 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 a percentage of the market value, reflecting the property's worth in the current real estate market. Homeowners in Crewe, located in Nottoway County, can expect their property tax bills to vary significantly based on their home's value. For instance, the median home price in Crewe is $78,700, and property tax bills range from $236 at the 25th percentile to $684 at the 90th percentile. The highest and lowest median tax bills in the area both stand at $375, specifically in the 23930 zip code. These tax bills can impact homeowners by influencing their overall housing costs and potentially affecting their budget for other expenses. Comparing this to the national median property tax rate of 0.99%, Crewe's property taxes can be seen as relatively moderate, providing a balanced approach to funding local services while maintaining affordability for residents.
Average Crewe Tax Bill
$375
Average Nottoway County Tax Bill
$352
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Crewe, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23930 | $141 | $236 | $375 | $539 | $684 |
Source: Ownwell