Brodnax, Virginia Property Taxes
The median property tax rate in Brodnax, VA is 0.40%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Brodnax at $90,200, the typical annual property tax bill amounts to $361, well below the national median of $2,690. Property taxes in Brodnax 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 Brodnax'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 Brodnax or another part of Mecklenburg County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Brodnax, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$361
Ownwell’s BRODNAX Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in BRODNAX with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in BRODNAX 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 Mecklenburg County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Brodnax, Virginia
Property taxes in Brodnax, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brodnax is 0.40%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Brodnax set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brodnax 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 Brodnax's effective property tax rate to other counties in Virginia and the national median. For comparison, the highest median property tax rate in the area is considerably higher, while the lowest median tax rate is significantly lower. Understanding how these cities compare with Brodnax provides valuable insights into the varying tax landscape across Mecklenburg County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brodnax Tax Rate
0.40%
Average Mecklenburg County Tax Rate
0.40%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brodnax, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23920 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Brodnax, Virginia
In Brodnax, 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 Mecklenburg 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 Brodnax, 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 Brodnax helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Brodnax is $90,200, with the highest and lowest median tax bills both being $361 in the zip code 23920.
Average Brodnax Assessed Value
$90,200
Average Mecklenburg County Assessed Value
$106,700
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brodnax, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23920 | $25,440 | $54,525 | $90,200 | $145,525 | $205,870 |
Source: Ownwell
Property Tax Bills Across Brodnax, Virginia
In Brodnax, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the Mecklenburg County assessor's office. The median home price in Brodnax is $90,200. Property taxes are derived by applying the local tax rate to this assessed value. Factors such as property improvements, market conditions, and neighborhood characteristics influence the assessed value. Homeowners in Brodnax can expect property tax bills to vary significantly. The tax bill at the 25th percentile is $218, while at the 75th percentile, it rises to $582, and at the 90th percentile, it reaches $823. These figures show that property taxes in Brodnax can range widely, impacting homeowners differently based on their property's assessed value. Compared to the national median property tax rate of 0.99%, Brodnax's property tax rates reflect the local economic conditions and housing market. Homeowners should be aware of these factors as they can significantly influence their annual property tax obligations.
Average Brodnax Tax Bill
$361
Average Mecklenburg County Tax Bill
$427
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Brodnax, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23920 | $102 | $218 | $361 | $582 | $823 |
Source: Ownwell