Swoope, Virginia Property Taxes
The median property tax rate in Swoope, VA is 0.63%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Swoope, the typical annual property tax bill reaches $1,320, which is well below the national median of $2,690. Property taxes in Swoope 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 Swoope'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 Swoope 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
Swoope, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$1,416
$1,314
Ownwell’s Swoope Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Swoope with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Swoope to provide an accurate property tax bill estimate. 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 Swoope, Virginia
Property taxes in Swoope, Virginia, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Swoope is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Swoope set these rates annually, and they can vary significantly across different neighborhoods. Each year, Swoope 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 Swoope's effective property tax rate to other areas and the national median. For comparison, the zip code 24479 has both the highest and lowest median property tax rate of 0.63%. Understanding how these areas compare with Swoope 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 Swoope 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 Swoope, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24479 | 0.29% | 0.57% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Swoope, Virginia
In Swoope, 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 Swoope, 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 Swoope helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in the area is $1,320, found in zip code 24479.
Average Swoope Assessed Value
$224,700
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 Swoope, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24479 | $95,940 | $147,950 | $224,700 | $371,621 | $592,753 |
Source: Ownwell
Property Tax Bills Across Swoope, Virginia
In Swoope, located in Augusta County, VA, property tax bills are determined through a combination of assessed property values and the county's tax rate. Homeowners in this region typically see tax bills that vary based on the value of their homes and the specific tax rate set by local authorities. For instance, the median home price in Swoope is $224,700. Tax bills can range significantly, with the 25th percentile at $895 and the 75th percentile reaching $1,886. At the higher end, the 90th percentile tax bill can be as much as $2,537. The county’s tax rate is applied to the assessed value of the property, which is periodically determined by local assessors. This assessed value takes into account various factors, including the property's market value, location, and condition. Compared to the national median property tax rate of 0.99%, the tax burden in Swoope can be seen as relatively moderate, making it a manageable expense for homeowners. Understanding these factors helps homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Swoope Tax Bill
$1,320
Average Augusta County Tax Bill
$1,250
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Swoope, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24479 | $545 | $895 | $1,320 | $1,886 | $2,537 |
Source: Ownwell