Vesuvius, Virginia Property Taxes
The median property tax rate in Vesuvius, 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 $175,850 in Vesuvius, the typical annual property tax bill amounts to $1,108, falling below the national median of $2,690. Property taxes in Vesuvius are based on the assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Navigating Vesuvius'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 Vesuvius 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
Vesuvius, Virginia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$1,780
Ownwell’s Vesuvius Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Vesuvius with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Vesuvius 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 Vesuvius, Virginia
Property taxes in Vesuvius, Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Vesuvius 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 Vesuvius set these rates annually, and they can vary significantly across different neighborhoods. Each year, Vesuvius 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 Vesuvius's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 24483 has the highest median property tax rate of 0.63%, while the lowest median tax rate is also 0.63%. Understanding how these cities compare with Vesuvius 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 Vesuvius 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 Vesuvius, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24483 | 0.48% | 0.58% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Vesuvius, Virginia
In Vesuvius, 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 Vesuvius, 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. For instance, the median home price in Vesuvius is $175,850, with the 25th percentile tax bill at $1,003 and the 75th percentile tax bill at $1,572. The highest and lowest median tax bills are both $1,108 in the 24483 zip code. 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 Vesuvius helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Vesuvius Assessed Value
$175,850
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 Vesuvius, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24483 | $148,580 | $159,200 | $175,850 | $306,261 | $521,651 |
Source: Ownwell
Property Tax Bills Across Vesuvius, Virginia
In Vesuvius, located in Augusta County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. The assessed value is a percentage of the property's market value. Homeowners in Vesuvius can expect their tax bills to fall within a range, with the 25th percentile at approximately $1,003 and the 75th percentile reaching around $1,572. The 90th percentile tax bill can go up to $2,286, reflecting the higher end of the property values in the area. Several factors influence the tax bill, including the property's location, size, and improvements. The local tax rate, applied to the assessed value, ultimately determines the amount owed. For comparison, the national median property tax rate is 0.99%, making Vesuvius's tax rates relatively moderate. These property taxes fund essential community services such as schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners. Understanding these factors can help homeowners better anticipate their annual property tax obligations.
Average Vesuvius Tax Bill
$1,108
Average Augusta County Tax Bill
$1,250
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Vesuvius, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24483 | $936 | $1,003 | $1,108 | $1,572 | $2,286 |
Source: Ownwell