Mount Jackson, Virginia Property Taxes
The median property tax rate in Mount Jackson, VA is 0.60%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $194,000 in Mount Jackson, the typical annual property tax bill amounts to $1,155, which is well below the national median of $2,690. Property taxes here are calculated based on the assessed value, which is often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Mount Jackson's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Mount Jackson or another part of Shenandoah County, being well-informed about the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mount Jackson, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$1,164
Ownwell’s Mount Jackson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mount Jackson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Jackson 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 Mount Jackson, Virginia
Property taxes in Mount Jackson, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Jackson is 0.60%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Mount Jackson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Jackson 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 Mount Jackson's effective property tax rate to other counties in Virginia and the national median. For comparison, the ZIP code 22842 has both the highest and lowest median property tax rate of 0.60%. Understanding how these areas compare with Mount Jackson provides valuable insights into the varying tax landscape across Shenandoah County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mount Jackson Tax Rate
0.60%
Average Shenandoah County Tax Rate
0.60%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mount Jackson, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22842 | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Mount Jackson, Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Mount Jackson, Virginia. 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 Shenandoah 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 Mount Jackson, 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. For instance, the median home price in Mount Jackson is $194,000, with tax bills ranging from $852 at the 25th percentile to $2,093 at the 90th percentile. The highest and lowest median tax bill in the area is $1,155 in the 22842 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.
Property Tax Assessment Values Across Mount Jackson, Virginia
Source: Ownwell
$163,200
$218,250
$273,300
Average Mount Jackson Assessed Value
$194,000
Average Shenandoah County Assessed Value
$221,200
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mount Jackson, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22842 | $95,000 | $143,200 | $194,000 | $257,725 | $358,300 |
Source: Ownwell
Property Tax Bills Across Mount Jackson, Virginia
In Mount Jackson, 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 property's market value. Once the assessed value is established, it is multiplied by the local tax rate to calculate the annual property tax bill. For instance, with a median home price of $194,000, homeowners in Mount Jackson can expect tax bills ranging from $852 at the 25th percentile to $2,093 at the 90th percentile. Several factors influence the tax bill, including property size, location, and improvements. The tax burden for homeowners in Mount Jackson is comparatively lower than the national median property tax rate of 0.99%. This relatively lower tax rate can make homeownership more affordable, although it also means fewer local services funded by property taxes. Understanding these factors helps homeowners anticipate their annual tax obligations and budget accordingly.
Average Mount Jackson Tax Bill
$1,155
Average Shenandoah County Tax Bill
$1,318
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Jackson, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22842 | $535 | $852 | $1,155 | $1,535 | $2,093 |
Source: Ownwell