Dayton, Virginia Property Taxes
The median property tax rate in Dayton, VA is 0.68%, which is notably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Dayton at $233,800, the typical annual property tax bill amounts to $1,558, falling below the national median of $2,690. Property taxes in Dayton are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Dayton'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 Dayton or another part of Rockingham County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dayton, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$1,590
Ownwell’s Dayton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dayton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dayton 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 Dayton, Virginia
Property taxes in Dayton, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dayton is 0.68%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Dayton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dayton 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 Dayton's effective property tax rate to other counties in Virginia and the national median. For comparison, the 22821 zip code has both the highest and lowest median property tax rate of 0.68%. Understanding how these cities compare with Dayton provides valuable insights into the varying tax landscape across Rockingham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dayton Tax Rate
0.68%
Average Rockingham County Tax Rate
0.68%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dayton, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22821 | 0.51% | 0.68% | 0.68% | 0.68% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Dayton, Virginia
In Dayton, 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 Rockingham 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. 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 Dayton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Dayton are both $1,558, found in zip code 22821.
Average Dayton Assessed Value
$233,800
Average Rockingham County Assessed Value
$237,400
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dayton, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22821 | $96,000 | $162,625 | $233,800 | $337,375 | $529,400 |
Source: Ownwell
Property Tax Bills Across Dayton, Virginia
In Dayton, Virginia, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value aims to reflect the market value of the property. Homeowners in Dayton can expect tax bills that vary significantly depending on their property's value. For instance, the tax bill at the 25th percentile is $1,085, while at the 75th percentile, it reaches $2,176. The 90th percentile tax bill can go up to $3,067. The median home price in Dayton stands at $233,800, and the median tax bill in the area is $1,558, which is comparable to the national median property tax rate of 0.99%. These figures highlight how property taxes can vary within the city, impacting homeowners differently based on their property's assessed value. Understanding these factors is crucial for homeowners as it directly influences their annual financial planning and overall cost of homeownership.
Average Dayton Tax Bill
$1,558
Average Rockingham County Tax Bill
$1,584
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Dayton, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22821 | $598 | $1,085 | $1,558 | $2,176 | $3,067 |
Source: Ownwell