Zuni, Virginia Property Taxes
The median property tax rate in Zuni, VA is 0.89%, which aligns with the Virginia state median but is slightly lower than the national median of 0.99%. With a median home value of $162,500 in Zuni, the typical annual property tax bill amounts to $1,434, falling below the national median of $2,690. Property taxes in Zuni are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Zuni’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 Zuni 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
Zuni, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$1,446
Ownwell’s Zuni Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Zuni with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Zuni 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 Zuni, Virginia
Property taxes in Zuni, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Zuni is 0.89%, which is lower than the U.S. national median of 0.99%. Local government entities within Zuni set these rates annually, and they can vary significantly across different neighborhoods. Each year, Zuni 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 Zuni's effective property tax rate to other areas in Virginia and the national median. For comparison, the zip code 23898 has both the highest and lowest median property tax rate of 0.89%. Understanding how these areas compare with Zuni 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 Zuni 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 Zuni, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23898 | 0.89% | 0.89% | 0.89% | 0.89% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Zuni, Virginia
In Zuni, 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 Zuni, 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. For example, the median home price in Zuni is $162,500, with tax bills ranging from $896 at the 25th percentile to $2,765 at the 90th percentile. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Zuni Assessed Value
$162,500
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 Zuni, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23898 | $72,820 | $102,250 | $162,500 | $227,900 | $315,420 |
Source: Ownwell
Property Tax Bills Across Zuni, Virginia
In Zuni, Southampton County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. This value is then multiplied by the local property tax rate. For example, with a median home price of $162,500, homeowners can expect their tax bills to vary significantly. At the 25th percentile, the tax bill is about $896, while at the 75th percentile, it rises to $2,020. The 90th percentile sees tax bills reaching up to $2,765. These figures highlight the range of property tax burdens homeowners might face, depending on their property's assessed value and specific circumstances. Compared to the national median property tax rate of 0.99%, Zuni's property tax rates can vary, affecting homeowners differently based on their property's assessed value. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly. The highest and lowest median tax bills in the area are both $1,434, indicating some level of consistency within certain zip codes, such as 23898.
Average Zuni Tax Bill
$1,434
Average Southampton County Tax Bill
$1,244
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Zuni, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23898 | $636 | $896 | $1,434 | $2,020 | $2,765 |
Source: Ownwell