Vesuvius, Virginia Property Taxes
The median property tax rate in Vesuvius, VA is 0.61%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $164,050 in Vesuvius, the typical annual property tax bill amounts to $842, which is well below the national median of $2,690. Property taxes in Vesuvius are determined 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. Gaining a thorough understanding of Vesuvius's property tax system, exploring available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're situated in the center of Vesuvius or in another part of the city, familiarizing yourself with the local property tax system will prove advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Vesuvius, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$1,001
$929
Ownwell’s Vesuvius Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Vesuvius with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Vesuvius 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 Vesuvius, Virginia
Property taxes in Vesuvius, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Vesuvius is 0.61%, lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Vesuvius set these rates annually, and they can vary significantly across different neighborhoods. Each year, Vesuvius 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 Vesuvius's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 24483 has both the highest and lowest median property tax rate of 0.61%. Understanding how these cities compare with Vesuvius provides valuable insights into the varying tax landscape across Amherst County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Vesuvius Tax Rate
0.61%
Average Amherst County Tax Rate
0.61%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Vesuvius, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24483 | 0.28% | 0.61% | 0.61% | 0.61% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Vesuvius, Virginia
In Vesuvius, 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 Amherst 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. Assessment notices in Vesuvius 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 instance, the highest median tax bill in Vesuvius is $842 in zip code 24483, while the lowest median tax bill is also $842 in the same zip code. Being aware of these valuation processes in Vesuvius helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Vesuvius Assessed Value
$164,050
Average Amherst County Assessed Value
$130,550
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Vesuvius, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24483 | $54,720 | $84,575 | $164,050 | $284,525 | $421,270 |
Source: Ownwell
Property Tax Bills Across Vesuvius, Virginia
In Vesuvius, located in Amherst County, VA, property tax bills are calculated based on the assessed value of a home. The local assessor determines this value, which is then multiplied by the tax rate set by the county. Factors such as the home's location, size, and market conditions play a crucial role in the assessed value. For homeowners in Vesuvius, the median home price stands at $164,050. The property tax rate in this region influences the final tax bill, with the national median rate being 0.99%. Homeowners in Vesuvius can expect tax bills to vary significantly; the 25th percentile tax bill is approximately $495, while the 75th percentile reaches up to $1,590. At the higher end, the 90th percentile tax bill can be as much as $2,044. These taxes directly impact homeowners by contributing to local services such as schools, infrastructure, and emergency services, thereby enhancing community living standards.
Average Vesuvius Tax Bill
$842
Average Amherst County Tax Bill
$778
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Vesuvius, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24483 | $289 | $495 | $842 | $1,590 | $2,044 |
Source: Ownwell