Fort Blackmore, Virginia Property Taxes
The median property tax rate in Fort Blackmore, VA is 0.77%, 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 $80,900 in Fort Blackmore, the typical annual property tax bill is about $620, significantly below the national median of $2,690. Property taxes in Fort Blackmore 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 Fort Blackmore'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 Fort Blackmore or another part of Scott County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fort Blackmore, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$623
Ownwell’s FORT BLACKMORE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in FORT BLACKMORE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in FORT BLACKMORE 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 Fort Blackmore, Virginia
Property taxes in Fort Blackmore, Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fort Blackmore is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Fort Blackmore set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fort Blackmore 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 Fort Blackmore's effective property tax rate to other areas in Virginia and the national median. For comparison, the 24250 zip code has both the highest and lowest median property tax rate of 0.77%. Understanding how these areas compare with Fort Blackmore provides valuable insights into the varying tax landscape across Scott County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fort Blackmore Tax Rate
0.77%
Average Scott County Tax Rate
0.77%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fort Blackmore, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24250 | 0.77% | 0.77% | 0.77% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Fort Blackmore, Virginia
In FORT BLACKMORE, 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 Scott 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 in FORT BLACKMORE 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. The median home price in FORT BLACKMORE is $80,900, with annual tax bills ranging from $336 at the 25th percentile to $1,495 at the 90th percentile. The zip code 24250 has the highest and lowest median tax bill at $620. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fort Blackmore Assessed Value
$80,900
Average Scott County Assessed Value
$95,050
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fort Blackmore, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24250 | $18,290 | $43,275 | $80,900 | $128,000 | $192,250 |
Source: Ownwell
Property Tax Bills Across Fort Blackmore, Virginia
In Fort Blackmore, VA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in the area is $80,900, and the property tax rate is applied to this assessed value to determine the tax bill. Several factors influence the final tax bill, including the specific assessment of the property's value and any applicable exemptions or deductions. Homeowners in Fort Blackmore can expect property tax bills that vary significantly. For instance, the tax bill at the 25th percentile is $336, while at the 75th percentile, it rises to $982. The 90th percentile tax bill reaches $1,495, indicating a broad range of potential tax liabilities. The highest and lowest median tax bills in the area both stand at $620, showcasing some consistency in certain parts of Scott County. These property tax bills impact homeowners by contributing to the overall cost of owning a home, affecting budgeting and financial planning. Compared to the national median property tax rate of 0.99%, Fort Blackmore’s tax rates are relatively moderate, making it an appealing location for property ownership.
Average Fort Blackmore Tax Bill
$620
Average Scott County Tax Bill
$739
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Fort Blackmore, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24250 | $141 | $336 | $620 | $982 | $1,495 |
Source: Ownwell