Painter, Virginia Property Taxes
The median property tax rate in Painter, VA is 0.60%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Painter, the typical annual property tax bill amounts to $495, well below the national median of $2,690. Property taxes in Painter 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 Painter'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 Painter or another part of Accomack County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Painter, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$499
$463
Ownwell’s Painter Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Painter with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Painter 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 Painter, Virginia
Property taxes in Painter, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Painter is 0.60%, which is notably lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Painter set these rates annually, and they can vary significantly across different neighborhoods. Each year, Painter 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 Painter's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 23420 has both the highest and lowest median property tax rate of 0.60%. Understanding how these cities compare with Painter provides valuable insights into the varying tax landscape across Accomack County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Painter Tax Rate
0.60%
Average Accomack County Tax Rate
0.60%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Painter, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23420 | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Painter, Virginia
In Painter, 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 Accomack 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 Painter, 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 Painter helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Painter is $495.00 in zip code 23420, while the lowest median tax bill is also $495.00 in the same zip code.
Average Painter Assessed Value
$83,200
Average Accomack County Assessed Value
$110,500
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Painter, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23420 | $20,400 | $37,900 | $83,200 | $150,600 | $254,100 |
Source: Ownwell
Property Tax Bills Across Painter, Virginia
In Painter, located in Accomack County, VA, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor's office. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For homeowners in Painter, the median home price is $83,200. Factors such as property size, location, and improvements can influence the assessed value. The tax bill in Painter varies significantly, with the 25th percentile at $226 and the 75th percentile at $896, reflecting a broad range of property values and tax burdens. Homeowners at the 90th percentile can expect to pay as much as $1,512 annually. The highest median tax bill in the area is $495, which is relatively modest compared to the national median property tax rate of 0.99%. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for residents.
Average Painter Tax Bill
$495
Average Accomack County Tax Bill
$645
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Painter, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23420 | $121 | $226 | $495 | $896 | $1,512 |
Source: Ownwell