Doe Hill, Virginia Property Taxes
The median property tax rate in Doe Hill, VA is 0.48%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $131,400 in Doe Hill, the typical annual property tax bill is $631, which is considerably less than the national median of $2,690. Property taxes in Doe Hill are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Doe Hill'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 Doe Hill or another part of Highland County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Doe Hill, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.48%
Estimate Property Tax Bill
$631
Ownwell’s Doe Hill Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Doe Hill with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Doe Hill 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 Doe Hill, Virginia
Property taxes in Doe Hill, Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Doe Hill is 0.48%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Doe Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, Doe Hill 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 Doe Hill's effective property tax rate to other areas in Virginia and the national median. For comparison, the zip code 24433 has both the highest and lowest median property tax rate of 0.48%. Understanding how these areas compare with Doe Hill provides valuable insights into the varying tax landscape across Highland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Doe Hill Tax Rate
0.48%
Average Highland County Tax Rate
0.48%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Doe Hill, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24433 | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% |
Source: Ownwell
Property Tax Assessment Values Across Doe Hill, Virginia
In Doe Hill, 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 Highland 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 Doe Hill, 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. For instance, the median home price in Doe Hill is $131,400, with tax bills ranging from $378 at the 25th percentile to $1,926 at the 90th percentile. The highest and lowest median tax bills are both $631 in zip code 24433. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Doe Hill Assessed Value
$131,400
Average Highland County Assessed Value
$166,600
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Doe Hill, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24433 | $41,770 | $78,700 | $131,400 | $277,775 | $401,240 |
Source: Ownwell
Property Tax Bills Across Doe Hill, Virginia
In Doe Hill, Highland County, VA, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The median home price in Doe Hill stands at $131,400. Property tax rates are applied to this assessed value to determine the annual tax bill. Factors such as property location, size, and improvements play a significant role in the assessment process. Homeowners in Doe Hill experience varying property tax bills. The 25th percentile tax bill is $378, while the 75th percentile tax bill reaches $1,333. At the 90th percentile, homeowners may pay up to $1,926 annually. These figures indicate a range of tax burdens, influenced by differences in property values and assessments. Compared to the national median property tax rate of 0.99%, Doe Hill's tax rates can result in relatively moderate tax bills, providing some relief to homeowners. However, the exact impact on individual homeowners depends on their property's assessed value and any applicable exemptions or deductions.
Average Doe Hill Tax Bill
$631
Average Highland County Tax Bill
$799
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Doe Hill, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24433 | $200 | $378 | $631 | $1,333 | $1,926 |
Source: Ownwell