Deerfield, Bath County, Virginia Property Taxes
The median property tax rate in Deerfield, VA is 0.60%, which is significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Deerfield, the typical annual property tax bill amounts to $1,114, falling well below the national median of $2,690. Property taxes in Deerfield are calculated based on the tax assessed value, which usually is lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Deerfield'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 Deerfield 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
Deerfield, Bath County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$1,231
$1,142
Ownwell’s Deerfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Deerfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Deerfield 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 Deerfield, Bath County, Virginia
Property taxes in Deerfield, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Deerfield is 0.60%, which is lower than the U.S. national median of 0.99%. Local government entities within Deerfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Deerfield 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 Deerfield's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 24432 has both the highest and lowest median property tax rate of 0.60%. Understanding how these cities compare with Deerfield provides valuable insights into the varying tax landscape across Bath County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Deerfield Tax Rate
0.60%
Average Bath County Tax Rate
0.60%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Deerfield, Bath County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24432 | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Deerfield, Bath County, Virginia
In Deerfield, 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 Bath 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. 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 Deerfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Deerfield, the median home price is $205,150. The highest median tax bill is $1,114 in zip code 24432, which is also the lowest median tax bill in the area.
Property Tax Assessment Values Across Deerfield, Bath County, Virginia
Source: Ownwell
$100,900
$153,025
$205,150
Average Deerfield Assessed Value
$205,150
Average Bath County Assessed Value
$145,400
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Deerfield, Bath County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24432 | $102,900 | $132,050 | $205,150 | $267,400 | $324,650 |
Source: Ownwell
Property Tax Bills Across Deerfield, Bath County, Virginia
In Deerfield, VA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local government assessors and reflects the market value of the property. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. For example, with a median home price of $205,150, homeowners can expect varying tax bills depending on their property's specific assessed value and applicable exemptions. Factors that influence the tax bill include property size, location, and any improvements made to the property. In Deerfield, the tax bill at the 25th percentile is approximately $792, while at the 75th percentile, it is around $1,355. For those at the 90th percentile, the tax bill can reach up to $1,910. These figures are relatively lower compared to the national median property tax rate of 0.99%, offering a more affordable option for homeowners in the region. The highest and lowest median tax bills in the area, both at $1,114, further illustrate the consistency in property tax assessments within this locality.
Average Deerfield Tax Bill
$1,114
Average Bath County Tax Bill
$864
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Deerfield, Bath County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24432 | $617 | $792 | $1,114 | $1,355 | $1,910 |
Source: Ownwell