Blue Ridge, Virginia Property Taxes
The median property tax rate in Blue Ridge, VA is 0.79%, lower than both the national median of 0.99% and Virginia's state median of 0.89%. With the median home value in Blue Ridge at $199,200, the typical annual property tax bill is $1,559, falling below the national median of $2,690. Property taxes in Blue Ridge are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Blue Ridge'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 Blue Ridge 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
Blue Ridge, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$1,574
Ownwell’s BLUE RIDGE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in BLUE RIDGE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BLUE RIDGE 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 Blue Ridge, Virginia
Property taxes in Blue Ridge, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Blue Ridge is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Blue Ridge set these rates annually, and they can vary significantly across different neighborhoods. Each year, Blue Ridge 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 Blue Ridge's effective property tax rate to other counties in Virginia and the national median. For comparison, the 24064 zip code has both the highest and lowest median property tax rate of 0.79%, highlighting the uniformity in tax rates within this area. Understanding how these cities compare with Blue Ridge provides valuable insights into the varying tax landscape across Botetourt County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Blue Ridge Tax Rate
0.79%
Average Botetourt County Tax Rate
0.79%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Blue Ridge, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24064 | 0.79% | 0.79% | 0.79% | 0.79% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Blue Ridge, Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Blue Ridge, Virginia. The market value represents 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 Botetourt 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 Blue Ridge, 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code with the highest and lowest median tax bill is 24064, with a median tax bill of $1,559.
Average Blue Ridge Assessed Value
$199,200
Average Botetourt County Assessed Value
$201,400
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Blue Ridge, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24064 | $98,380 | $160,300 | $199,200 | $263,900 | $359,020 |
Source: Ownwell
Property Tax Bills Across Blue Ridge, Virginia
Property tax bills in Blue Ridge, located in Botetourt County, VA, are determined based on the assessed value of a property. This assessed value is typically a percentage of the property's market value, which is influenced by factors such as location, property size, and market conditions. The local tax rate is then applied to this assessed value to calculate the annual tax bill. For homeowners in Blue Ridge, the median home price stands at $199,200. Property tax bills can vary significantly, with the 25th percentile tax bill at $1,234 and the 75th percentile tax bill at $2,052. The top 10% of tax bills can reach up to $2,795. Comparatively, the national median property tax rate is 0.99%, which provides a benchmark for evaluating local tax burdens. Understanding these factors helps homeowners anticipate their annual expenses and budget accordingly, ensuring they are prepared for their property tax obligations.
Average Blue Ridge Tax Bill
$1,559
Average Botetourt County Tax Bill
$1,521
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Blue Ridge, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24064 | $626 | $1,234 | $1,559 | $2,052 | $2,795 |
Source: Ownwell