Allisonia, Virginia Property Taxes
The median property tax rate in Allisonia, VA is 0.74%, 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 $101,600 in Allisonia, the typical annual property tax bill amounts to $736, significantly below the national median of $2,690. Property taxes in Allisonia are determined based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Allisonia'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 Allisonia or another part of Pulaski County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Allisonia, 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 Allisonia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Allisonia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Allisonia 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 Allisonia, Virginia
Property taxes in Allisonia, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Allisonia is 0.74%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Allisonia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Allisonia 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 Allisonia's effective property tax rate to other counties in Virginia and the national median. For comparison, the 24347 zip code has the highest median property tax rate of 0.74%, while the same zip code also has the lowest median tax rate of 0.74%. Understanding how these areas compare with Allisonia provides valuable insights into the varying tax landscape across Pulaski County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Allisonia Tax Rate
0.74%
Average Pulaski County Tax Rate
0.74%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Allisonia, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24347 | 0.74% | 0.74% | 0.74% | 0.74% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Allisonia, Virginia
In Allisonia, 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 Pulaski 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 Allisonia, 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 Allisonia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 24347 has the highest median tax bill at $736, which is also the lowest median tax bill in the region.
Average Allisonia Assessed Value
$101,600
Average Pulaski County Assessed Value
$120,000
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Allisonia, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24347 | $32,140 | $55,150 | $101,600 | $153,000 | $225,180 |
Source: Ownwell
Property Tax Bills Across Allisonia, Virginia
In Allisonia, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local property tax rate to calculate the annual tax bill. Pulaski County, where Allisonia is located, has a median home price of $101,600. Homeowners in the area can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is $394, while the 75th percentile reaches $1,118, and the 90th percentile can be as high as $1,666. These variations are influenced by factors such as property location, home size, and improvements made to the property. Compared to the national median property tax rate of 0.99%, the tax bills in Allisonia reflect the local economic conditions and property values. Understanding these factors and how they impact property tax bills is crucial for homeowners as it affects their annual budgeting and long-term financial planning.
Average Allisonia Tax Bill
$736
Average Pulaski County Tax Bill
$883
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Allisonia, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24347 | $237 | $394 | $736 | $1,118 | $1,666 |
Source: Ownwell