North Garden, Virginia Property Taxes
The median property tax rate in North Garden, VA is 0.85%, which is lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $366,700 in North Garden, the typical annual property tax bill reaches $2,936, surpassing the national median of $2,690. Property taxes in North Garden are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding North Garden'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 North Garden 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
North Garden, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.85%
Estimate Property Tax Bill
$3,117
Ownwell’s North Garden Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in North Garden with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in North Garden 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 North Garden, Virginia
Property taxes in North Garden, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in North Garden is 0.85%, lower than the U.S. national median of 0.99%. Local government entities within North Garden set these rates annually, and they can vary significantly across different neighborhoods. Each year, North Garden 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 North Garden's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 22959 has the highest median property tax rate of 0.85%, while the same zip code also has the lowest median tax rate of 0.85%. Understanding how these cities compare with North Garden 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 North Garden 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 North Garden, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22959 | 0.50% | 0.85% | 0.85% | 0.85% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across North Garden, Virginia
In North Garden, 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 Assessor 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 North Garden, 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 North Garden helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 22959 has the highest and lowest median tax bill, both at $2,936.
Average North Garden Assessed Value
$366,700
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 North Garden, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22959 | $133,700 | $211,900 | $366,700 | $641,200 | $1,249,800 |
Source: Ownwell
Property Tax Bills Across North Garden, Virginia
In North Garden, located in Albemarle County, VA, property tax bills are calculated based on the assessed value of a homeowner's property. This assessed value is determined by the county's tax assessor and reflects the market value of the home. The tax rate, set by local government authorities, is then applied to this assessed value to calculate the annual tax bill. For homeowners in North Garden, the median home price is $366,700. Property tax bills can vary significantly, with the 25th percentile tax bill at $1,674 and the 75th percentile reaching $4,771. At the 90th percentile, homeowners might see tax bills as high as $9,235. The median property tax bill in the area is $2,936, which is notably higher than the national median property tax rate of 0.99%. These tax bills impact homeowners by influencing their annual budget and long-term financial planning. Higher property taxes can also affect the overall affordability of owning a home in North Garden.
Average North Garden Tax Bill
$2,936
Average Albemarle County Tax Bill
$3,602
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across North Garden, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22959 | $1,015 | $1,674 | $2,936 | $4,771 | $9,235 |
Source: Ownwell