Dante, Virginia Property Taxes
The median property tax rate in Dante, VA is 0.63%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Dante at $20,600, the typical annual property tax bill is $130, well below the national median of $2,690. Property taxes in Dante 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 Dante'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 Dante or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dante, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$130
Ownwell’s DANTE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in DANTE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in DANTE 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 Dante, Virginia
Property taxes in Dante, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Dante is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Dante set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dante 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 Dante's effective property tax rate to other areas in Virginia and the national median. For comparison, the zip code 24237 has the highest median property tax rate of 0.63%, while the same zip code also has the lowest median tax rate of 0.63%. Understanding how these areas compare with Dante provides valuable insights into the varying tax landscape across Russell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Dante Tax Rate
0.63%
Average Russell County Tax Rate
0.63%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Dante, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24237 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Dante, Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Dante, Virginia. 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 local 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 in Dante 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. For instance, the highest median tax bill in Dante is $130, found in the 24237 zip code. Conversely, this same zip code also has the lowest median tax bill of $130. Being aware of these valuation processes in Dante helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Dante Assessed Value
$20,600
Average Russell County Assessed Value
$78,900
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Dante, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24237 | $8,230 | $14,000 | $20,600 | $27,975 | $40,130 |
Source: Ownwell
Property Tax Bills Across Dante, Virginia
In Dante, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the Russell County tax assessor. The assessed value is a percentage of the market value of the property. Once the assessed value is established, it is multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Dante, the median home price is $20,600, resulting in a range of tax bills. The 25th percentile tax bill is $88, while the 75th percentile tax bill is $176, and the 90th percentile tax bill reaches $253. These figures are notably lower than the national median property tax rate of 0.99%, making Dante an affordable place for property owners. The property tax bill directly impacts homeowners by influencing their annual expenses. Lower property taxes can make homeownership more accessible and affordable, but they also reflect the level of public services and infrastructure funded by these taxes.
Average Dante Tax Bill
$130
Average Russell County Tax Bill
$497
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Dante, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24237 | $52 | $88 | $130 | $176 | $253 |
Source: Ownwell