Emporia, Virginia Property Taxes
The median property tax rate in Emporia, VA is 0.89%, which aligns with the Virginia state median but is slightly lower than the national median of 0.99%. With the median home value in Emporia at $90,250, the typical annual property tax bill amounts to $798, significantly less than the national median of $2,690. Property taxes in Emporia 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 Emporia'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 Emporia 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
Emporia, 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 Emporia Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Emporia. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Emporia to provide a clear estimate of your property tax bill. This tool is designed to help you understand your potential tax liabilities with ease. For those interested in more granular data, there are additional insights available on neighborhood trends. Your property's assessed value, determined by Southampton County, forms the basis for property tax calculations and takes into account any applicable exemptions.
Property Tax Rates Across Emporia, Virginia
Property taxes in Emporia, Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Emporia is 0.89%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Emporia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Emporia 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 Emporia's effective property tax rate to other counties in Virginia and the national median. For comparison, the 23847 zip code 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 Emporia 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 Emporia 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 Emporia, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23847 | 0.89% | 0.89% | 0.89% | 0.89% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Emporia, Virginia
In Emporia, 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. 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 Emporia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 23847 has the highest median tax bill of $798.00, which is the same as the lowest median tax bill in the area.
Average Emporia Assessed Value
$90,250
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 Emporia, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23847 | $28,120 | $59,825 | $90,250 | $152,025 | $278,760 |
Source: Ownwell
Property Tax Bills Across Emporia, Virginia
In Emporia, property tax bills are calculated based on the assessed value of the home and the local tax rate. The assessed value is determined by the city’s property assessor, who evaluates the market value of the property. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $90,250, homeowners in Emporia might expect a tax bill that ranges significantly. The 25th percentile tax bill is approximately $509, while the 75th percentile tax bill is around $1,246. In some cases, it can go up to $2,269, as seen in the 90th percentile. These tax bills can impact homeowners significantly, as they represent a recurring annual expense that must be budgeted for. Compared to the national median property tax rate of 0.99%, Emporia’s property tax rates can vary widely, affecting the overall affordability of owning a home in the area. Homeowners should be aware of these potential costs when purchasing property in Emporia.
Average Emporia Tax Bill
$798
Average Southampton County Tax Bill
$1,244
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Emporia, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23847 | $216 | $509 | $798 | $1,246 | $2,269 |
Source: Ownwell