Williamsville, Virginia Property Taxes
The median property tax rate in Williamsville, 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 Williamsville at $135,700, the typical annual property tax bill is $774, well below the national median of $2,690. Property taxes in Williamsville are based on the tax assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Williamsville'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 Williamsville or another part of Bath County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Williamsville, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$814
$756
Ownwell’s Williamsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Williamsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Williamsville 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 Williamsville, Virginia
Property taxes in Williamsville, Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Williamsville stands at 0.60%, lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Williamsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Williamsville 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 Williamsville's effective property tax rate to other counties in Virginia and the national median. For comparison, the 24487 zip code has both the highest and lowest median property tax rate of 0.60%. Understanding how these cities compare with Williamsville 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 Williamsville 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 Williamsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24487 | 0.58% | 0.60% | 0.60% | 0.60% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Williamsville, Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Williamsville, Virginia. 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. In Williamsville, 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 Williamsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the median home price in Williamsville is $135,700, with tax bills ranging from $532 at the 25th percentile to $1,730 at the 90th percentile. Notably, the zip code 24487 has the highest median tax bill at $774.
Average Williamsville Assessed Value
$135,700
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 Williamsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24487 | $61,930 | $91,925 | $135,700 | $215,975 | $345,090 |
Source: Ownwell
Property Tax Bills Across Williamsville, Virginia
In Williamsville, Bath County, VA, property tax bills are determined by assessing the market value of a home and applying the local tax rate to that value. The median home price in Williamsville stands at $135,700. Homeowners can expect a range of tax bills depending on their property's assessed value and specific circumstances. For instance, the 25th percentile tax bill is $532, while the 75th percentile tax bill reaches $1239, and the 90th percentile tax bill can go up to $1730. The local tax rate for Bath County is compared to the national median property tax rate of 0.99%, which helps provide context for homeowners. These assessments and the resulting tax bills directly impact homeowners by influencing their annual housing costs. Understanding these factors allows homeowners to better anticipate their financial obligations and plan accordingly. The highest and lowest median tax bills in the area are both $774, indicating a relatively consistent tax rate across different properties within the same zip code.
Average Williamsville Tax Bill
$774
Average Bath County Tax Bill
$864
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Williamsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24487 | $368 | $532 | $774 | $1,239 | $1,730 |
Source: Ownwell