Dunnsville, Virginia Property Taxes
The median property tax rate in Dunnsville, VA is 0.73%, which is significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $160,800 in Dunnsville, the typical annual property tax bill amounts to $1,169, falling well below the national median of $2,690. Property taxes in Dunnsville are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Dunnsville'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 Dunnsville or another part of Essex County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dunnsville, 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 Dunnsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dunnsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dunnsville 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 Dunnsville, Virginia
Property taxes in Dunnsville, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dunnsville is 0.73%, lower than the U.S. national median of 0.99%. Local government entities within Dunnsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dunnsville 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 Dunnsville's effective property tax rate to other counties in Virginia and the national median. For comparison, the 22454 zip code has both the highest and lowest median property tax rate of 0.73%. Understanding how these cities compare with Dunnsville provides valuable insights into the varying tax landscape across Essex County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dunnsville Tax Rate
0.73%
Average Essex County Tax Rate
0.73%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dunnsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22454 | 0.73% | 0.73% | 0.73% | 0.73% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Dunnsville, Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Dunnsville, Virginia. 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 Essex 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 Dunnsville, 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. Dunnsville's median home price is $160,800, with the 25th percentile tax bill at $760 and the 75th percentile at $1,738. Notably, the highest and lowest median tax bills in the area are both $1,169, found in zip code 22454. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dunnsville Assessed Value
$160,800
Average Essex County Assessed Value
$164,800
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dunnsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22454 | $33,414 | $104,512 | $160,800 | $240,916 | $417,692 |
Source: Ownwell
Property Tax Bills Across Dunnsville, Virginia
In Dunnsville, Essex County, VA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county's assessor, who evaluates the property's market value. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For example, with a median home price of $160,800, homeowners can expect varying tax bills. The 25th percentile tax bill is approximately $760, while the 75th percentile tax bill reaches around $1,738. At the higher end, the 90th percentile tax bill can be as much as $3,013. The highest and lowest median tax bills in the area both stand at $1,169 in the 22454 zip code. These property taxes fund essential local services such as schools, emergency services, and infrastructure. Homeowners in Dunnsville need to budget for these taxes as part of their overall homeownership costs, ensuring they can meet their annual obligations without financial strain.
Average Dunnsville Tax Bill
$1,169
Average Essex County Tax Bill
$1,202
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Dunnsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22454 | $242 | $760 | $1,169 | $1,738 | $3,013 |
Source: Ownwell