Stuarts Draft, Virginia Property Taxes
The median property tax rate in Stuarts Draft, 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 Stuarts Draft at $198,250, the typical annual property tax bill amounts to $1,243, which is significantly below the national median of $2,690. Property taxes in Stuarts Draft 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 Stuarts Draft'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 Stuarts Draft 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
Stuarts Draft, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$1,249
$1,159
Ownwell’s Stuarts Draft Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stuarts Draft with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stuarts Draft 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 Stuarts Draft, Virginia
Property taxes in Stuarts Draft, Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stuarts Draft is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Stuarts Draft set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stuarts Draft 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 Stuarts Draft's effective property tax rate to other counties in Virginia and the national median. For comparison, the 24477 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 Stuarts Draft 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 Stuarts Draft 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 Stuarts Draft, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24477 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Stuarts Draft, Virginia
In Stuarts Draft, 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 Stuarts Draft, 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 Stuarts Draft helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Stuarts Draft are both $1,243, found in the zip code 24477.
Average Stuarts Draft Assessed Value
$198,250
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 Stuarts Draft, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24477 | $117,250 | $153,825 | $198,250 | $243,475 | $300,950 |
Source: Ownwell
Property Tax Bills Across Stuarts Draft, Virginia
In Stuarts Draft, Augusta County, VA, property tax bills are calculated based on the assessed value of a property, which is determined by county assessors. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For homeowners in Stuarts Draft, the median home price is $198,250. The property tax rate in this region is relatively moderate compared to the national median property tax rate of 0.99%. Factors that influence the tax bill include the property's assessed value, any applicable exemptions, and the local tax rate. Homeowners might see variations in their tax bills, with the 25th percentile at $954 and the 75th percentile reaching $1,520. The highest median tax bill in the area is $1,243. These tax bills significantly impact homeowners by influencing their overall housing costs. Understanding how these taxes are calculated helps homeowners budget more effectively and anticipate future financial obligations related to property ownership.
Average Stuarts Draft Tax Bill
$1,243
Average Augusta County Tax Bill
$1,250
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Stuarts Draft, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24477 | $695 | $954 | $1,243 | $1,520 | $1,840 |
Source: Ownwell