Meadows Of Dan, Virginia Property Taxes
The median property tax rate in Meadows of Dan, VA is 0.59%, considerably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Meadows of Dan at $106,300, the typical annual property tax bill reaches $620, significantly below the national median of $2,690. Property taxes in Meadows of Dan 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 Meadows of Dan'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 Meadows of Dan or another part of Carroll County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Meadows Of Dan, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$627
Ownwell’s Meadows of Dan Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Meadows of Dan with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Meadows of Dan 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 Meadows Of Dan, Virginia
Property taxes in Meadows of Dan, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Meadows of Dan is 0.59%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Meadows of Dan set these rates annually, and they can vary significantly across different neighborhoods. Each year, Meadows of Dan 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 Meadows of Dan's effective property tax rate to other areas in Carroll County and the national median. For comparison, the 24120 zip code has both the highest and lowest median property tax rate of 0.59%. Understanding how these cities compare with Meadows of Dan provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Meadows Of Dan Tax Rate
0.59%
Average Carroll County Tax Rate
0.59%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Meadows Of Dan, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24120 | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Meadows Of Dan, Virginia
In Meadows of Dan, 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 Carroll 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 Meadows of Dan, 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 Meadows of Dan helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In this region, the highest and lowest median tax bills are both $620, found in the 24120 zip code.
Property Tax Assessment Values Across Meadows Of Dan, Virginia
Source: Ownwell
$51,750
$101,350
$150,950
Average Meadows Of Dan Assessed Value
$106,300
Average Carroll County Assessed Value
$88,700
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Meadows Of Dan, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24120 | $23,200 | $56,000 | $106,300 | $161,200 | $203,500 |
Source: Ownwell
Property Tax Bills Across Meadows Of Dan, Virginia
In Meadows of Dan, located in Carroll County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is a percentage of the market value, reflecting the estimated amount the property would sell for under normal conditions. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. For instance, in Meadows of Dan, the median home price is $106,300. Property tax bills can vary significantly, with the 25th percentile at $316 and the 75th percentile reaching $946. At the 90th percentile, homeowners might see bills as high as $1,190. Despite these variations, the median tax bill in the area stands at $620, which is below the national median property tax rate of 0.99%. These property taxes fund essential public services like schools, emergency services, and infrastructure, directly impacting the quality of life for homeowners in Meadows of Dan.
Average Meadows Of Dan Tax Bill
$620
Average Carroll County Tax Bill
$526
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Meadows Of Dan, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24120 | $137 | $316 | $620 | $946 | $1,190 |
Source: Ownwell