Mount Sidney, Virginia Property Taxes
The median property tax rate in Mount Sidney, 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 Mount Sidney at $244,850, the typical annual property tax bill reaches $1,489, well below the national median of $2,690. Property taxes in Mount Sidney 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 Mount Sidney'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 Mount Sidney 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
Mount Sidney, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$1,543
Ownwell’s Mount Sidney Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mount Sidney with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mount Sidney 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 Mount Sidney, Virginia
Property taxes in Mount Sidney, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mount Sidney is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Mount Sidney set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mount Sidney 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 Mount Sidney's effective property tax rate to other counties in Virginia and the national median. For comparison, the 24467 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 cities compare with Mount Sidney provides valuable insights into the varying tax landscape across Augusta, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mount Sidney 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 Mount Sidney, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24467 | 0.41% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Mount Sidney, Virginia
In Mount Sidney, 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 Mount Sidney, 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 Mount Sidney helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1,489 in the 24467 zip code, while the lowest median tax bill is also $1,489 in the same zip code.
Average Mount Sidney Assessed Value
$244,850
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 Mount Sidney, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24467 | $131,000 | $178,600 | $244,850 | $327,375 | $498,071 |
Source: Ownwell
Property Tax Bills Across Mount Sidney, Virginia
In Mount Sidney, Augusta County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by local authorities. This assessed value is then multiplied by the local property tax rate to arrive at the annual tax bill. For example, with a median home price of $244,850, homeowners in Mount Sidney can expect varying tax bills depending on their property's assessed value. Factors that influence the tax bill include the property's location, size, and any improvements made. The tax bill can range significantly; at the 25th percentile, homeowners might pay around $1,081, while those at the 75th percentile could see bills as high as $1,887. At the 90th percentile, the tax bill can reach up to $2,385. These taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the community's quality of life. Comparatively, Mount Sidney's property tax rates are competitive, providing residents with a balanced approach to funding local services without an excessive tax burden.
Average Mount Sidney Tax Bill
$1,489
Average Augusta County Tax Bill
$1,250
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Mount Sidney, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24467 | $763 | $1,081 | $1,489 | $1,887 | $2,385 |
Source: Ownwell