Greenville, Virginia Property Taxes
The median property tax rate in Greenville, VA is 0.63%, considerably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Greenville at $157,200, the typical annual property tax bill reaches $965, significantly below the national median of $2,690. Property taxes in Greenville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Greenville'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 Greenville 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
Greenville, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$990
Ownwell’s Greenville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Greenville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Greenville 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 Greenville, Virginia
Property taxes in Greenville, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Greenville is 0.63%, lower than the U.S. national median of 0.99%. Local government entities within Greenville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Greenville 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 Greenville's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 24440 has the highest median property tax rate of 0.63%, while the same zip code also has the lowest median tax rate of 0.63%. Understanding how these cities compare with Greenville provides valuable insights into the varying tax landscape across Augusta County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Greenville Tax Rate
0.63%
Average Augusta County Tax Rate
0.63%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Greenville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24440 | 0.51% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Greenville, Virginia
In Greenville, 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 Augusta 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 Greenville, 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. The median home price in Greenville is $157,200, with tax bills ranging from $575 at the 25th percentile to $1,922 at the 90th percentile. The highest and lowest median tax bills, both at $965, are found in zip code 24440. 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 Greenville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Greenville Assessed Value
$157,200
Average Augusta County Assessed Value
$204,500
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Greenville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24440 | $31,240 | $95,600 | $157,200 | $228,700 | $346,902 |
Source: Ownwell
Property Tax Bills Across Greenville, Virginia
In Greenville, VA, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by local government assessors who evaluate the market value of the property. Once the property is assessed, the tax rate set by the county is applied to this value to calculate the annual tax bill. Several factors influence the tax bill, including the property's location, size, and any improvements made. For instance, properties in Augusta County, where Greenville is located, have a median home price of $157,200. Homeowners in the 25th percentile can expect a tax bill around $575, while those in the 75th percentile may see bills as high as $1,389. The highest median tax bill in the area is $965, which is significantly lower than the national median property tax rate of 0.99%. These property taxes are crucial for funding local services such as schools, emergency services, and infrastructure, directly impacting the quality of life for Greenville residents.
Average Greenville Tax Bill
$965
Average Augusta County Tax Bill
$1,250
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Greenville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24440 | $189 | $575 | $965 | $1,389 | $1,922 |
Source: Ownwell