Esmont, Virginia Property Taxes
The median property tax rate in Esmont, VA is 0.85%, which is lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Esmont at $196,950, the typical annual property tax bill is $1,675, falling below the national median of $2,690. Property taxes in Esmont are calculated based on the tax assessed value, which often is less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Esmont'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 Esmont or another part of Albemarle County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Esmont, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$1,674
Ownwell’s Esmont Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Esmont. By simply entering your property's estimated assessed value, the calculator uses Esmont's median tax rate to provide an accurate estimate of your property tax bill. This user-friendly tool helps you understand your potential tax liabilities with ease. For those interested in more granular details, additional localized information is available just below. Your property’s assessed value, determined by Albemarle County, is used for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Esmont, Virginia
Property taxes in Esmont, Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Esmont is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Esmont set these rates annually, and they can vary significantly across different neighborhoods. Each year, Esmont 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 Esmont's effective property tax rate to other areas and the national median. For comparison, the zip code 22937 has both the highest and lowest median property tax rate of 0.85%. Understanding how these cities compare with Esmont provides valuable insights into the varying tax landscape across Albemarle County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Esmont Tax Rate
0.85%
Average Albemarle County Tax Rate
0.85%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Esmont, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22937 | 0.49% | 0.85% | 0.85% | 0.85% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Esmont, Virginia
In Esmont, 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 Albemarle 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 Esmont, 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 Esmont helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 22937 in Esmont records the highest and lowest median tax bill at $1,675, which is notably lower than the national median property tax rate of 0.99%.
Average Esmont Assessed Value
$196,950
Average Albemarle County Assessed Value
$433,600
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Esmont, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22937 | $77,830 | $123,275 | $196,950 | $310,425 | $589,400 |
Source: Ownwell
Property Tax Bills Across Esmont, Virginia
In Esmont, located in Albemarle County, VA, property tax bills are calculated based on the assessed value of a home. The tax rate is applied to this assessed value to determine the total tax bill. Factors such as property size, location, and market conditions influence the assessed value. For instance, the median home price in Esmont is $196,950. The tax bills in Esmont can vary significantly. For example, the 25th percentile tax bill is $1,002, while the 75th percentile tax bill is $2,575, and the 90th percentile tax bill can reach up to $4,086. Comparatively, the highest and lowest median tax bills in the area are both $1,675, indicating a consistent rate within the zip code 22937. These property taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services. Understanding how these factors play into the calculation can help homeowners anticipate their annual financial obligations and budget accordingly.
Average Esmont Tax Bill
$1,675
Average Albemarle County Tax Bill
$3,602
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Esmont, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22937 | $539 | $1,002 | $1,675 | $2,575 | $4,086 |
Source: Ownwell