Steeles Tavern, Virginia Property Taxes
The median property tax rate in Steeles Tavern, 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 of $234,750, the typical annual property tax bill in Steeles Tavern comes to $1,284, well below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Steeles Tavern'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 Steeles Tavern 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
Steeles Tavern, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$1,479
Ownwell’s Steeles Tavern Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Steeles Tavern with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Steeles Tavern 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 Augusta County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Steeles Tavern, Virginia
Property taxes in Steeles Tavern, Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Steeles Tavern 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 Steeles Tavern set these rates annually, and they can vary significantly across different neighborhoods. Each year, Steeles Tavern 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 Steeles Tavern's effective property tax rate to other areas in Augusta County and the national median. For comparison, the zip code 24476 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 figures compare with Steeles Tavern 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 Steeles Tavern 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 Steeles Tavern, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24476 | 0.18% | 0.41% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Steeles Tavern, Virginia
In Steeles Tavern, 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 Assessor's Office 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 Steeles Tavern, 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 Steeles Tavern helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $234,750, with tax bills ranging from $832 at the 25th percentile to $2,350 at the 90th percentile. Notably, the zip code 24476 has both the highest and lowest median tax bill at $1,284.
Property Tax Assessment Values Across Steeles Tavern, Virginia
Source: Ownwell
$46,700
$242,675
$438,650
Average Steeles Tavern Assessed Value
$234,750
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 Steeles Tavern, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24476 | $109,400 | $144,550 | $234,750 | $391,052 | $599,459 |
Source: Ownwell
Property Tax Bills Across Steeles Tavern, Virginia
In Steeles Tavern, property tax bills are calculated based on the assessed value of a property, which is determined by the Augusta County tax assessor. The assessed value is a percentage of the property's market value. Homeowners in Steeles Tavern can expect their property tax bills to vary significantly, with the 25th percentile tax bill around $832, while the 75th percentile reaches $1,760. The highest median tax bill recorded in the area is $1,284, which aligns with the lowest median tax bill, indicating a stable tax rate across the region. Compared to the national median property tax rate of 0.99%, Steeles Tavern's property taxes can be considered moderate. Factors influencing the tax bill include property size, location, and market conditions. For homeowners, these taxes contribute to local services such as schools, infrastructure, and public safety. Understanding these elements helps homeowners anticipate their annual tax obligations and manage their finances accordingly.
Average Steeles Tavern Tax Bill
$1,284
Average Augusta County Tax Bill
$1,250
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Steeles Tavern, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24476 | $478 | $832 | $1,284 | $1,760 | $2,350 |
Source: Ownwell