Clintwood, Virginia Property Taxes
The median property tax rate in Clintwood, 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 $56,500 in Clintwood, the typical annual property tax bill amounts to $349, which is well below the national median of $2,690. Property taxes in Clintwood are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Clintwood’s property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Clintwood 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
Clintwood, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$339
Ownwell’s Clintwood Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clintwood with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clintwood 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 Clintwood, Virginia
Property taxes in Clintwood, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clintwood is 0.60%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Clintwood set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clintwood 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 Clintwood's effective property tax rate to other counties in Virginia and the national median. For comparison, the 24228 zip code has the highest median property tax rate of 0.60%, while the same zip code also has the lowest median tax rate of 0.60%. Understanding how these cities compare with Clintwood provides valuable insights into the varying tax landscape across Dickenson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clintwood Tax Rate
0.60%
Average Dickenson County Tax Rate
0.60%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clintwood, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24228 | 0.60% | 0.60% | 0.60% | 0.60% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Clintwood, Virginia
In Clintwood, 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 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 Clintwood, 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 Clintwood helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in Clintwood is $349, both found in the zip code 24228.
Average Clintwood Assessed Value
$56,500
Average Dickenson County Assessed Value
$51,100
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clintwood, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24228 | $13,370 | $32,200 | $56,500 | $85,050 | $118,530 |
Source: Ownwell
Property Tax Bills Across Clintwood, Virginia
In Clintwood, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of the market value. Homeowners in Dickenson County can expect their tax bills to vary significantly, depending on several factors such as property size, location, and improvements. The median home price in Clintwood is $56,500, and the median property tax bill is $349. This is considerably lower than the national median property tax rate of 0.99%. The tax bill for the 25th percentile is around $197, while the 75th percentile sees bills closer to $526. For those at the 90th percentile, tax bills can reach up to $741. These variations illustrate how different factors like property enhancements or neighborhood changes can impact the assessed value and, consequently, the tax bill. Lower property tax rates in Clintwood can be beneficial for homeowners, making it an attractive place for those looking to minimize their tax burden while still enjoying property ownership.
Average Clintwood Tax Bill
$349
Average Dickenson County Tax Bill
$312
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Clintwood, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24228 | $82 | $197 | $349 | $526 | $741 |
Source: Ownwell