Hinton, Virginia Property Taxes
The median property tax rate in Hinton, 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 a median home value of $152,800 in Hinton, the typical annual property tax bill amounts to $1,035, which is also below the national median of $2,690. Property taxes in Hinton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural land. Understanding Hinton'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 Hinton or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hinton, 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 Hinton Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Hinton with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Hinton to estimate your property tax bill. This valuable 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 Rockingham County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Hinton, Virginia
Property taxes in Hinton, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hinton 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 Hinton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hinton 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 Hinton's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 22831 has both the highest and lowest median property tax rate of 0.68%. Understanding how these cities compare with Hinton 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 Hinton 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 Hinton, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22831 | 0.68% | 0.68% | 0.68% | 0.68% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Hinton, Virginia
In Hinton, 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. In Hinton, 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 Hinton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the zip code 22831 has the highest and lowest median tax bill, both at $1,035, demonstrating the variability within the area.
Average Hinton Assessed Value
$152,800
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 Hinton, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22831 | $40,440 | $100,200 | $152,800 | $237,000 | $367,360 |
Source: Ownwell
Property Tax Bills Across Hinton, Virginia
In Hinton, Rockingham County, VA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor, who evaluates the property's market value. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For example, with a median home price of $152,800, homeowners can expect varying tax bills. At the 25th percentile, the tax bill is around $677, while at the 75th percentile, it rises to approximately $1,590. The highest tax bills, at the 90th percentile, can reach up to $2,384. These tax bills can significantly impact homeowners' finances, as they are a recurring annual expense. Comparing these figures to the national median property tax rate of 0.99%, Hinton's property tax rates can be considered relatively moderate, offering some relief to homeowners in this region.
Average Hinton Tax Bill
$1,035
Average Rockingham County Tax Bill
$1,584
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Hinton, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22831 | $261 | $677 | $1,035 | $1,590 | $2,384 |
Source: Ownwell