Middlebrook, Virginia Property Taxes
The median property tax rate in Middlebrook, VA is 0.63%, which is significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Middlebrook at $261,056, the typical annual property tax bill amounts to $1,277, well below the national median of $2,690. Property taxes in Middlebrook are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Middlebrook'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 Middlebrook or another part of Augusta County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Middlebrook, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$1,645
Ownwell’s Middlebrook Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Middlebrook to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county for property tax purposes and takes into account any applicable exemptions.
Property Tax Rates Across Middlebrook, Virginia
Property taxes in Middlebrook, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Middlebrook is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Middlebrook set these rates annually, and they can vary significantly across different neighborhoods. Each year, Middlebrook 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 Middlebrook's effective property tax rate to other counties in Virginia and the national median. For comparison, the 24459 zip code has the highest median property tax rate of 0.63%, while the 24459 zip code also has the lowest median tax rate of 0.63%. Understanding how these cities compare with Middlebrook 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 Middlebrook 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 Middlebrook, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24459 | 0.19% | 0.39% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Middlebrook, Virginia
In Middlebrook, 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 Middlebrook, 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. The median home price in Middlebrook is $261,056, with tax bills ranging from $830 at the 25th percentile to $2,806 at the 90th percentile. The zip code with the highest and lowest median tax bill is 24459, both at $1,277. 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 Middlebrook helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Middlebrook Assessed Value
$261,056
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 Middlebrook, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24459 | $98,860 | $143,875 | $261,056 | $479,813 | $922,351 |
Source: Ownwell
Property Tax Bills Across Middlebrook, Virginia
In Middlebrook, Augusta County, VA, property tax bills are calculated based on the assessed value of a property, which is determined by the local assessor's office. The tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and market conditions influence the assessed value. Homeowners in Middlebrook experience a range of tax bills, with the 25th percentile at $830 and the 75th percentile reaching $1,932, indicating variability based on property characteristics. The median home price in Middlebrook is $261,056, and the property tax rate in Augusta County contributes to a median tax bill of $1,277. This is slightly above the national median property tax rate of 0.99%. For homeowners, this means that property taxes can significantly impact annual expenses, with higher-valued properties facing tax bills up to $2,806 at the 90th percentile. Understanding these factors can help homeowners anticipate and manage their property tax obligations effectively.
Average Middlebrook Tax Bill
$1,277
Average Augusta County Tax Bill
$1,250
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Middlebrook, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24459 | $600 | $830 | $1,277 | $1,932 | $2,806 |
Source: Ownwell