Sandston, Virginia Property Taxes
The median property tax rate in Sandston, VA is 0.85%, which is lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $251,800 in Sandston, the typical annual property tax bill is $2,133, falling below the national median of $2,690. Property taxes in Sandston are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Sandston's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you reside in Sandston or another part of Henrico County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sandston, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$2,140
Ownwell’s Sandston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sandston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sandston 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 Sandston, Virginia
Property taxes in Sandston, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sandston is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Sandston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sandston 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 Sandston's effective property tax rate to other counties in Virginia and the national median. For comparison, the 23150 zip code has the highest median property tax rate of 0.85%, while the 23150 zip code also has the lowest median tax rate of 0.85%. Understanding how these cities compare with Sandston provides valuable insights into the varying tax landscape across Henrico County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sandston Tax Rate
0.85%
Average Henrico County Tax Rate
0.85%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sandston, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23150 | 0.85% | 0.85% | 0.85% | 0.85% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Sandston, Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Sandston, 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 Henrico 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 Sandston, 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. For instance, the median home price in Sandston is $251,800, with tax bills ranging from $1,723 at the 25th percentile to $3,185 at the 90th percentile. The highest and lowest median tax bills are both $2,133 in the 23150 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 Sandston Assessed Value
$251,800
Average Henrico County Assessed Value
$308,300
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sandston, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23150 | $171,800 | $204,550 | $251,800 | $307,400 | $373,400 |
Source: Ownwell
Property Tax Bills Across Sandston, Virginia
In Sandston, Henrico 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 property assessor and reflects the market value of the property. For example, with a median home price of $251,800, the tax bill can vary significantly depending on the specific property and its assessed value. Several factors influence the tax bill, including the property's location, size, and any improvements made. Homeowners in Sandston can expect tax bills ranging from $1,723 at the 25th percentile to $3,185 at the 90th percentile, with a median tax bill of $2,133. This range highlights the variability in property tax obligations within the area. Compared to the national median property tax rate of 0.99%, Sandston's property tax rate can have a notable impact on homeowners' finances. Understanding these factors helps homeowners anticipate their tax liabilities and plan accordingly, ensuring they are prepared for their annual property tax bills.
Average Sandston Tax Bill
$2,133
Average Henrico County Tax Bill
$2,643
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Sandston, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23150 | $1,428 | $1,723 | $2,133 | $2,616 | $3,185 |
Source: Ownwell