Aylett, Virginia Property Taxes
The median property tax rate in Aylett, VA is 0.58%, considerably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Aylett at $241,700, the typical annual property tax bill reaches $1,391, significantly below the national median of $2,690. Property taxes in Aylett are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Aylett'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 Aylett or another part of King William County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Aylett, 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 Aylett Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Aylett with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Aylett 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 Aylett, Virginia
Property taxes in Aylett, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Aylett is 0.58%, lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Aylett set these rates annually, and they can vary significantly across different neighborhoods. Each year, Aylett 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 Aylett's effective property tax rate to other counties in Virginia and the national median. For comparison, the 23009 zip code has the highest median property tax rate of 0.58%, while the 23009 zip code also has the lowest median tax rate of 0.58%. Understanding how these cities compare with Aylett provides valuable insights into the varying tax landscape across King William County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Aylett Tax Rate
0.58%
Average King William County Tax Rate
0.58%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Aylett, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23009 | 0.58% | 0.58% | 0.58% | 0.58% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Aylett, Virginia
In Aylett, 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 King William 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 Aylett, 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 Aylett helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In King William County, the median home price is $241,700, with tax bills ranging from $1,106 at the 25th percentile to $2,205 at the 90th percentile. The highest and lowest median tax bills are both $1,391, found in the 23009 zip code.
Average Aylett Assessed Value
$241,700
Average King William County Assessed Value
$231,500
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Aylett, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23009 | $130,100 | $193,300 | $241,700 | $303,900 | $383,570 |
Source: Ownwell
Property Tax Bills Across Aylett, Virginia
Property tax bills in Aylett, located in King William County, VA, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is established by the county assessor and is intended to reflect the property's market value. Factors influencing the tax bill include the size and condition of the property, recent sales of comparable properties, and any improvements made to the property. Homeowners in Aylett can expect tax bills that vary significantly. For instance, the tax bill at the 25th percentile is $1,106, while at the 75th percentile, it rises to $1,749, and at the 90th percentile, it reaches $2,205. The median home price in Aylett is $241,700, which is a key factor in determining the overall tax burden. Compared to the national median property tax rate of 0.99%, Aylett's property tax rates can have a notable impact on homeowners, influencing decisions about property investments and affordability.
Average Aylett Tax Bill
$1,391
Average King William County Tax Bill
$1,247
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Aylett, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23009 | $671 | $1,106 | $1,391 | $1,749 | $2,205 |
Source: Ownwell