Appomattox, Virginia Property Taxes
The median property tax rate in Appomattox, VA is 0.55%, considerably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Appomattox at $158,000, the typical annual property tax bill reaches $869, significantly below the national median of $2,690. Property taxes in Appomattox 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 Appomattox'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 Appomattox 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
Appomattox, Virginia 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 Appomattox Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Appomattox with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Appomattox 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 Appomattox, Virginia
Property taxes in Appomattox, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Appomattox is 0.55%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Appomattox set these rates annually, and they can vary significantly across different neighborhoods. Each year, Appomattox 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 Appomattox's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 24522 has both the highest and lowest median property tax rate of 0.55%. Understanding how these cities compare with Appomattox provides valuable insights into the varying tax landscape across Buckingham, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Appomattox Tax Rate
0.55%
Average Buckingham County Tax Rate
0.55%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Appomattox, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24522 | 0.55% | 0.55% | 0.55% | 0.55% | 0.55% |
Source: Ownwell
Property Tax Assessment Values Across Appomattox, Virginia
In Appomattox, 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 local appraisal authority 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 Appomattox, 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 Appomattox helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 24522, with a median tax bill of $869.
Average Appomattox Assessed Value
$158,000
Average Buckingham County Assessed Value
$107,100
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Appomattox, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24522 | $96,880 | $112,200 | $158,000 | $203,150 | $238,940 |
Source: Ownwell
Property Tax Bills Across Appomattox, Virginia
In Appomattox, VA, property tax bills are calculated based on the assessed value of the property, which is determined by the local assessor's office. The assessed value is a percentage of the home's market value, and this value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $158,000, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is around $617, while at the 75th percentile, it rises to approximately $1,117. For those in the 90th percentile, the tax bill can reach up to $1,314. These property taxes play a significant role in funding local services such as schools, public safety, and infrastructure. Homeowners in Appomattox might find their tax bills slightly below the national median property tax rate of 0.99%. Understanding these factors can help homeowners budget more effectively and anticipate any changes in their annual financial obligations.
Average Appomattox Tax Bill
$869
Average Buckingham County Tax Bill
$585
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Appomattox, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24522 | $533 | $617 | $869 | $1,117 | $1,314 |
Source: Ownwell