Wise County Property Taxes
The median property tax rate in Wise County is 0.69%, which is significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Wise County at $75,300, the typical annual property tax bill is approximately $501, far below the national median of $2,690. Property taxes in Wise County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Wise County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Wise or another part of Wise County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wise County 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 Wise County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Wise County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Wise County to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Wise County, Virginia
Property taxes in Wise County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Wise County is 0.69%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Wise County set these rates annually, and they can vary significantly between different areas within the county. Each year, Wise County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Appalachia has one of the higher property tax rates in Virginia at 0.69%, which is the same as the county's median rate. Analyzing how Wise County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Wise County Tax Rate
0.69%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wise County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Appalachia | 0.69% | 0.69% | 0.69% | 0.69% | 0.69% |
| Big Stone Gap | 0.69% | 0.69% | 0.69% | 0.69% | 0.69% |
| Coeburn | 0.69% | 0.69% | 0.69% | 0.69% | 0.69% |
| East Stone Gap | 0.69% | 0.69% | 0.69% | 0.69% | 0.69% |
| Norton | 0.49% | 0.69% | 0.69% | 0.69% | 0.69% |
| Pound | 0.69% | 0.69% | 0.69% | 0.69% | 0.69% |
| Saint Paul | 0.65% | 0.69% | 0.69% | 0.69% | 0.69% |
| Stonega | 0.69% | 0.69% | 0.69% | 0.69% | 0.69% |
| Wise | 0.69% | 0.69% | 0.69% | 0.69% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Wise County, Virginia
In Wise County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Wise County Appraisal District. The assessed value, however, 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. Assessment notices in Wise County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Wise has the highest median tax bill in the county at $645, while East Stone Gap has the lowest at $151. Being aware of these valuation processes in Wise County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Wise County Assessed Value
$75,300
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wise County, Virginia
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Appalachia | $17,700 | $27,825 | $40,600 | $60,600 | $85,900 |
| Big Stone Gap | $36,700 | $54,100 | $80,200 | $126,900 | $188,200 |
| Coeburn | $30,600 | $48,100 | $72,600 | $105,700 | $146,800 |
| East Stone Gap | $21,900 | $21,900 | $21,900 | $21,900 | $21,900 |
| Norton | $27,970 | $42,250 | $64,000 | $89,525 | $121,160 |
| Pound | $31,000 | $48,400 | $69,000 | $101,325 | $142,470 |
| Saint Paul | $36,190 | $53,725 | $77,850 | $115,450 | $164,440 |
| Stonega | $11,340 | $20,900 | $30,500 | $46,500 | $64,140 |
| Wise | $45,520 | $65,400 | $95,500 | $143,550 | $206,020 |
Source: Ownwell
Property Tax Bills Across Wise County, Virginia
In Wise County, VA, 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. Homeowners in Wise County face a range of property tax bills, with the 25th percentile at $318 and the 75th percentile reaching $779. At the 90th percentile, tax bills can rise to $1,150. Several factors influence the tax bill, including the property's location, size, and condition. For instance, Wise city has the highest median tax bill at $645, while East Stone Gap has the lowest at $151. These differences highlight how local variations can significantly impact what homeowners pay. Compared to the national median property tax rate of 0.99%, Wise County offers a more affordable range, making it an attractive option for homeowners looking to manage their expenses. Understanding these factors can help homeowners better anticipate and plan for their annual property tax obligations.
Average Wise County Tax Bill
$501
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Wise County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Appalachia | $97 | $178 | $274 | $415 | $580 |
| Big Stone Gap | $212 | $348 | $526 | $853 | $1,269 |
| Coeburn | $172 | $304 | $480 | $713 | $991 |
| East Stone Gap | $151 | $151 | $151 | $151 | $151 |
| Norton | $166 | $270 | $421 | $587 | $833 |
| Pound | $170 | $303 | $452 | $678 | $965 |
| Saint Paul | $200 | $338 | $516 | $771 | $1,108 |
| Stonega | $77 | $138 | $207 | $299 | $399 |
| Wise | $276 | $434 | $645 | $988 | $1,414 |
Source: Ownwell