Bent Mountain, Virginia Property Taxes
The median property tax rate in Bent Mountain, VA is 0.70%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Bent Mountain at $102,050, the typical annual property tax bill amounts to $714, which is well below the national median of $2,690. Property taxes in Bent Mountain 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 Bent Mountain'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 Bent Mountain or another part of Montgomery County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bent Mountain, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$714
Ownwell’s Bent Mountain Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Bent Mountain. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Bent Mountain to provide a clear estimate of your property tax bill. This tool offers a straightforward way to gauge potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available. Remember, your property’s assessed value is determined by the county for tax purposes and considers any applicable exemptions.
Property Tax Rates Across Bent Mountain, Virginia
Property taxes in Bent Mountain, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bent Mountain is 0.70%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Bent Mountain set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bent Mountain 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 Bent Mountain's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 24059 has both the highest and lowest median property tax rate of 0.70%. Understanding how these cities compare with Bent Mountain provides valuable insights into the varying tax landscape across Montgomery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bent Mountain Tax Rate
0.70%
Average Montgomery County Tax Rate
0.70%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bent Mountain, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24059 | 0.70% | 0.70% | 0.70% | 0.70% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Bent Mountain, Virginia
In Bent Mountain, 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 Montgomery 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 Bent Mountain, 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 Bent Mountain helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $714, found in the 24059 zip code.
Average Bent Mountain Assessed Value
$102,050
Average Montgomery County Assessed Value
$250,700
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bent Mountain, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24059 | $46,010 | $67,025 | $102,050 | $137,075 | $158,090 |
Source: Ownwell
Property Tax Bills Across Bent Mountain, Virginia
In Bent Mountain, Montgomery 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 Bent Mountain is $102,050. Homeowners can expect their tax bills to vary significantly, with the 25th percentile tax bill at $469 and the 75th percentile at $960. For those in the 90th percentile, tax bills can go up to $1,107. The property tax rate in Bent Mountain is influenced by the county's budgetary needs and local tax rates. Homeowners should be aware that their property tax bills are a function of both the assessed value of their property and the local tax rate. This means that changes in either the market value of their home or adjustments in the local tax rate can impact their annual tax obligations. Comparing this to the national median property tax rate of 0.99%, Bent Mountain's tax bills are relatively modest, providing some financial relief to homeowners in the area.
Average Bent Mountain Tax Bill
$714
Average Montgomery County Tax Bill
$1,751
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Bent Mountain, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24059 | $322 | $469 | $714 | $960 | $1,107 |
Source: Ownwell