Courtland, Virginia Property Taxes
The median property tax rate in Courtland, VA is 0.89%, aligning with the Virginia state median but slightly below the national median of 0.99%. With the median home value in Courtland at $151,500, the typical annual property tax bill amounts to $1,384, which is notably lower than the national median of $2,690. Property taxes in Courtland are determined based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural land. Gaining a thorough understanding of Courtland's property tax system, exploring available exemptions, and identifying potential reductions can result in substantial annual savings. Whether you're in the heart of Courtland or its surrounding areas, a comprehensive knowledge of the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Courtland, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$1,348
Ownwell’s Courtland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Courtland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Courtland 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 Courtland, Virginia
Property taxes in Courtland, Virginia, are essential in funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Courtland is 0.89%, which is lower than the U.S. national median of 0.99%. Local government entities within Courtland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Courtland 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 Courtland's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 23837 has the highest median property tax rate of 0.89%, while the same zip code also has the lowest median tax rate of 0.89%. Understanding how these cities compare with Courtland provides valuable insights into the varying tax landscape across Southampton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Courtland Tax Rate
0.89%
Average Southampton County Tax Rate
0.89%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Courtland, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23837 | 0.89% | 0.89% | 0.89% | 0.89% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Courtland, Virginia
In Courtland, 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 Southampton 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 Courtland, 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 Courtland is $151,500. 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 Courtland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 23837 has both the highest and lowest median tax bill at $1,384.
Average Courtland Assessed Value
$151,500
Average Southampton County Assessed Value
$133,900
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Courtland, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23837 | $63,500 | $101,650 | $151,500 | $214,400 | $295,600 |
Source: Ownwell
Property Tax Bills Across Courtland, Virginia
In Courtland, Southampton County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Courtland is $151,500. Homeowners' tax bills are influenced by the assessed value and the local tax rate. For example, the tax bill at the 25th percentile is around $920, while at the 75th percentile, it reaches approximately $2019. At the 90th percentile, homeowners can expect to pay up to $2783. These tax bills are a significant factor for homeowners, impacting their annual budget and overall financial planning. Compared to the national median property tax rate of 0.99%, Courtland's property tax rates can vary, but they provide a clear picture of the financial responsibility tied to homeownership in the area. Understanding these factors helps homeowners anticipate their annual tax obligations and manage their finances more effectively.
Average Courtland Tax Bill
$1,384
Average Southampton County Tax Bill
$1,244
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Courtland, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23837 | $600 | $920 | $1,384 | $2,019 | $2,783 |
Source: Ownwell