Ford, Virginia Property Taxes
The median property tax rate in Ford, VA is 0.38%, considerably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Ford at $156,650, the typical annual property tax bill is $595, significantly below the national median of $2,690. Property taxes in Ford are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ford'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 Ford or another part of Amelia County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ford, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.38%
Estimate Property Tax Bill
$595
Ownwell’s Ford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ford 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 Ford, Virginia
Property taxes in Ford, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ford is 0.52%, which is lower than the Virginia state median of 0.82% and the U.S. national median of 0.99%. Local government entities within Ford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ford 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 Ford's effective property tax rate to other counties in Virginia and the national median. For comparison, the highest median property tax rate in Virginia is found in the 22003 zip code, with a rate of 1.02%, while the lowest median tax rate is in the 23002 zip code, at 0.38%. Understanding how these cities compare with Ford provides valuable insights into the varying tax landscape across Amelia County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ford Tax Rate
0.38%
Average Amelia County Tax Rate
0.38%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ford, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23850 | 0.38% | 0.38% | 0.38% | 0.38% | 0.38% |
Source: Ownwell
Property Tax Assessment Values Across Ford, Virginia
In Ford, 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 Amelia 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 Ford, 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 Ford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Ford is $595 in zip code 23850, while the lowest median tax bill is also $595 in the same zip code.
Average Ford Assessed Value
$156,650
Average Amelia County Assessed Value
$193,300
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ford, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23850 | $46,590 | $119,525 | $156,650 | $255,475 | $335,080 |
Source: Ownwell
Property Tax Bills Across Ford, Virginia
In Ford, Amelia County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in Ford is $156,650. Homeowners can expect their tax bills to vary, with the 25th percentile paying around $454 and the 75th percentile seeing bills up to $971. The top 10% of tax bills can reach approximately $1,273. This variability is influenced by factors such as property size, location, and any improvements made to the home. The tax rate in Ford is compared to the national median property tax rate of 0.99%, providing context for how local rates stand relative to national standards. For homeowners, understanding these factors is crucial as they directly impact the annual financial obligations tied to property ownership. Properly managing these costs can help in budgeting and long-term financial planning.
Average Ford Tax Bill
$595
Average Amelia County Tax Bill
$735
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Ford, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23850 | $177 | $454 | $595 | $971 | $1,273 |
Source: Ownwell