Ford, Virginia Property Taxes
The median property tax rate in Ford, VA is 0.79%, which is lower than both the national median of 0.99% and Virginia's state median of 0.89%. With the median home value in Ford at $116,500, the typical annual property tax bill amounts to $912, significantly below the national median of $2,690. Property taxes in Ford 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 Ford'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 Ford 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
Ford, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$920
Ownwell’s Ford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ford 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 Ford, Virginia
Property taxes in Ford, VA, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ford is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Ford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ford 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 Ford's effective property tax rate to other areas in Dinwiddie County and the national median. For comparison, the zip code 23850 has the highest median property tax rate of 0.79%, while the same zip code also has the lowest median tax rate of 0.79%. Understanding how these areas compare with Ford provides valuable insights into the varying tax landscape across Dinwiddie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ford Tax Rate
0.79%
Average Dinwiddie County Tax Rate
0.79%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ford, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23850 | 0.79% | 0.79% | 0.79% | 0.79% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Ford, Virginia
In Ford, 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 Dinwiddie 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 Ford, 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. The median home price in Ford is $116,500, and the median tax bill ranges from $604 at the 25th percentile to $2,061 at the 90th percentile. The highest and lowest median tax bill is $912 in the 23850 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ford Assessed Value
$116,500
Average Dinwiddie County Assessed Value
$147,500
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ford, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23850 | $42,000 | $79,050 | $116,500 | $181,700 | $307,260 |
Source: Ownwell
Property Tax Bills Across Ford, Virginia
In Ford, located in Dinwiddie County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor's office. The assessed value is multiplied by the local tax rate to arrive at the annual tax bill. Various factors influence the assessed value, including the home's market value, location, and any improvements or modifications made to the property. For homeowners in Ford, the median home price stands at $116,500. The property tax bills range significantly, with the 25th percentile at $604 and the 90th percentile reaching up to $2,061. This variation highlights the impact of property value and location within the city. Comparatively, the highest and lowest median tax bills in the area are both $912, indicating a consistent tax rate across different zip codes within Dinwiddie County. Understanding these factors helps homeowners anticipate their annual expenses and budget accordingly, ensuring they are prepared for their property tax obligations.
Average Ford Tax Bill
$912
Average Dinwiddie County Tax Bill
$1,142
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Ford, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23850 | $307 | $604 | $912 | $1,375 | $2,061 |
Source: Ownwell