Augusta Springs, Virginia Property Taxes
The median property tax rate in Augusta Springs, VA, is 0.63%, considerably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Augusta Springs, the typical annual property tax bill reaches $294, significantly below the national median of $2,690. Property taxes in Augusta Springs 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 Augusta Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Augusta Springs 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
Augusta Springs, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$294
$273
Ownwell’s Augusta Springs Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Augusta Springs with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Augusta Springs to provide an estimate of your property tax bill. This valuable tool helps you grasp potential tax obligations. For those interested in more detailed trends at the neighborhood level, additional localized information is available further down the page. Your property’s assessed value is the figure determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Augusta Springs, Virginia
Property taxes in Augusta Springs, Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Augusta Springs is 0.63%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Augusta Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Augusta Springs 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 Augusta Springs' effective property tax rate to other counties in Virginia and the national median. For comparison, the 24411 zip code has the highest median property tax rate of 0.63%, while the same zip code also has the lowest median tax rate of 0.63%. Understanding how these areas compare with Augusta Springs provides valuable insights into the varying tax landscape across Augusta County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Augusta Springs Tax Rate
0.63%
Average Augusta County Tax Rate
0.63%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Augusta Springs, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24411 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Augusta Springs, Virginia
In Augusta Springs, 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 local 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 Augusta Springs, 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 Augusta Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bill is 24411, with a value of $294.
Property Tax Assessment Values Across Augusta Springs, Virginia
Source: Ownwell
$46,700
$242,675
$438,650
Average Augusta Springs Assessed Value
$46,700
Average Augusta County Assessed Value
$204,500
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Augusta Springs, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24411 | $46,700 | $46,700 | $46,700 | $46,700 | $46,700 |
Source: Ownwell
Property Tax Bills Across Augusta Springs, Virginia
In Augusta Springs, VA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local assessor's office and reflects the market value of the property. Homeowners in Augusta Springs, located in Augusta County, experience a median property tax rate that results in a tax bill of approximately $294, regardless of the specific percentile. This figure is consistent across the 25th, 75th, and 90th percentiles, illustrating a uniformity in tax bills within the region. Compared to the national median property tax rate of 0.99%, Augusta Springs offers a relatively affordable tax environment for homeowners. Factors that influence the tax bill include the assessed value of the property and local tax rates set by the county. For homeowners, this means that property taxes are predictable and manageable, contributing to the overall affordability of living in Augusta Springs. Understanding these factors helps homeowners plan their finances and anticipate their annual property tax obligations.
Average Augusta Springs Tax Bill
$294
Average Augusta County Tax Bill
$1,250
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Augusta Springs, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24411 | $294 | $294 | $294 | $294 | $294 |
Source: Ownwell