Goshen, Virginia Property Taxes
The median property tax rate in Goshen, VA is 0.63%, which is notably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value in Goshen, the typical annual property tax bill amounts to $871, significantly below the national median of $2,690. Property taxes in Goshen are determined based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Goshen's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Goshen or another part of the city, getting a grasp on the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Goshen, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$979
Ownwell’s Goshen Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Goshen with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Goshen 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 Goshen, Virginia
Property taxes in Goshen, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Goshen is 0.63%, lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Goshen set these rates annually, and they can vary significantly across different neighborhoods. Each year, Goshen 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 Goshen's effective property tax rate to other counties in Virginia and the national median. For comparison, the 24439 zip code has the highest median property tax rate of 0.63%, while the 24439 zip code also has the lowest median tax rate of 0.63%. Understanding how these cities compare with Goshen 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 Goshen 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 Goshen, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24439 | 0.30% | 0.53% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Goshen, Virginia
In Goshen, 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 Augusta 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 Goshen, 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 Goshen helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills, both at $871, are found in the 24439 zip code, highlighting the range of tax obligations within the area.
Average Goshen Assessed Value
$155,396
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 Goshen, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24439 | $58,300 | $99,100 | $155,396 | $249,316 | $414,427 |
Source: Ownwell
Property Tax Bills Across Goshen, Virginia
In Goshen, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the Augusta County tax assessor and reflects the market value of the property. The local tax rate is applied to this assessed value to calculate the annual tax bill. Homeowners in Goshen experience a range of property tax bills, with the 25th percentile at $587 and the 75th percentile at $1,330, indicating variability depending on property values and exemptions. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. For instance, properties in the zip code 24439 have a median tax bill of $871. Compared to the national median property tax rate of 0.99%, Goshen's tax rates can significantly impact homeowners, making it important for them to understand how their tax obligations are calculated and to seek available exemptions to potentially lower their tax burden.
Average Goshen Tax Bill
$871
Average Augusta County Tax Bill
$1,250
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Goshen, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24439 | $358 | $587 | $871 | $1,330 | $1,748 |
Source: Ownwell