Capron, Virginia Property Taxes
The median property tax rate in Capron, VA is 0.89%, aligning with the state median but slightly below the national median of 0.99%. With a median home value of $117,200 in Capron, the typical annual property tax bill is $1,088, which is considerably lower than the national median of $2,690. Property taxes in Capron 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 Capron'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 Capron or another part of Southampton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Capron, 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 Capron Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Capron with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Capron 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 Southampton County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Capron, Virginia
Property taxes in Capron, Virginia, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Capron is 0.89%, which is lower than the U.S. national median of 0.99%. Local government entities within Capron set these rates annually, and they can vary significantly across different neighborhoods. Each year, Capron 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 Capron's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 23829 has the highest median property tax rate of 0.89%, while the same zip code also has the lowest median tax rate of 0.89%. Understanding how these cities compare with Capron provides valuable insights into the varying tax landscape across Southampton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Capron Tax Rate
0.89%
Average Southampton County Tax Rate
0.89%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Capron, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23829 | 0.89% | 0.89% | 0.89% | 0.89% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Capron, Virginia
In Capron, 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 Southampton 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 Capron, 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 Capron helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Capron are both $1088, found in the zip code 23829.
Average Capron Assessed Value
$117,200
Average Southampton County Assessed Value
$133,900
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Capron, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23829 | $54,940 | $80,575 | $117,200 | $198,650 | $300,910 |
Source: Ownwell
Property Tax Bills Across Capron, Virginia
Property tax bills in Capron, Southampton County, VA, are calculated based on the assessed value of a property. The assessed value is determined by the local tax assessor and reflects the market value of the home. Homeowners in Capron can expect a median home price of $117,200. The tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax bill, including the property's location, size, and any improvements made. In Capron, the tax bills range significantly, with the 25th percentile at $745 and the 75th percentile reaching $1,868. For those in the 90th percentile, tax bills can be as high as $2,776. Compared to the national median property tax rate of 0.99%, Capron's property taxes can have a substantial impact on homeowners' financial planning. Understanding these factors can help homeowners anticipate their annual expenses and manage their budgets effectively.
Average Capron Tax Bill
$1,088
Average Southampton County Tax Bill
$1,244
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Capron, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23829 | $518 | $745 | $1,088 | $1,868 | $2,776 |
Source: Ownwell