Belle Haven, Virginia Property Taxes
The median property tax rate in Belle Haven, 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 $172,700 in Belle Haven, the typical annual property tax bill amounts to $1,022, which is below the national median of $2,690. Property taxes in Belle Haven are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Belle Haven'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 Belle Haven or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Belle Haven, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$1,036
Ownwell’s Belle Haven Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Belle Haven with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Belle Haven to provide an estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities. For those interested in more localized trends, additional neighborhood-specific information is available below. Your property’s assessed value, determined by the county, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Belle Haven, Virginia
Property taxes in Belle Haven, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Belle Haven is 0.60%, which is lower than the U.S. national median of 0.99%. Local government entities within Belle Haven set these rates annually, and they can vary significantly across different neighborhoods. Each year, Belle Haven 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 Belle Haven's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 23306 has both the highest and lowest median property tax rate of 0.60%. Understanding how these cities compare with Belle Haven provides valuable insights into the varying tax landscape across Accomack County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Belle Haven Tax Rate
0.60%
Average Accomack County Tax Rate
0.60%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Belle Haven, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23306 | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Belle Haven, Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Belle Haven, VA. 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 Accomack 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 Belle Haven, 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 Belle Haven helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 23306 has the highest median tax bill of $1,022, while the lowest is also in the same zip code, reflecting the uniformity in tax assessments within the area.
Average Belle Haven Assessed Value
$172,700
Average Accomack County Assessed Value
$110,500
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Belle Haven, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23306 | $47,100 | $103,100 | $172,700 | $293,000 | $392,000 |
Source: Ownwell
Property Tax Bills Across Belle Haven, Virginia
In Belle Haven, 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 intended to reflect the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For homeowners in Belle Haven, the median home price is $172,700. Property tax bills can vary significantly; for instance, the 25th percentile tax bill is around $611, while the 75th percentile tax bill reaches approximately $1,740. At the higher end, the 90th percentile tax bill is about $2,332. These variations depend on factors such as property location, size, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Belle Haven's property tax rates can be seen as relatively moderate, providing a balanced approach to funding local services without placing an excessive burden on homeowners. This ensures that residents contribute fairly to community resources while maintaining affordability.
Average Belle Haven Tax Bill
$1,022
Average Accomack County Tax Bill
$645
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Belle Haven, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23306 | $280 | $611 | $1,022 | $1,740 | $2,332 |
Source: Ownwell