Bland, Bland County, Virginia Property Taxes
The median property tax rate in Bland, VA is 0.60%, considerably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Bland at $94,800, the typical annual property tax bill is $569, significantly below the national median of $2,690. Property taxes in Bland are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Bland'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 Bland 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
Bland, Bland County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$569
$528
Ownwell’s Bland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bland 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 Bland, Bland County, Virginia
Property taxes in Bland, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bland is 0.60%, which is significantly lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Bland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bland 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 Bland's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 24315 has both the highest and lowest median property tax rate of 0.60%. Understanding how these areas compare with Bland provides valuable insights into the varying tax landscape across Bland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bland Tax Rate
0.60%
Average Bland County Tax Rate
0.60%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bland, Bland County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24315 | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Bland, Bland County, Virginia
In Bland, 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 county assessor 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 Bland, 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 Bland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 24315, with a tax bill of $569, while the lowest median tax bill is also in the same zip code.
Property Tax Assessment Values Across Bland, Bland County, Virginia
Source: Ownwell
$68,300
$111,450
$154,600
Average Bland Assessed Value
$94,800
Average Bland County Assessed Value
$87,700
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bland, Bland County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24315 | $32,840 | $63,400 | $94,800 | $148,800 | $248,340 |
Source: Ownwell
Property Tax Bills Across Bland, Bland County, Virginia
In Bland, VA, property tax bills are calculated based on the assessed value of a home. The median home price in Bland is $94,800, which serves as a baseline for determining property taxes. The tax rate is applied to this assessed value to calculate the annual tax bill. Various factors influence the final tax bill, including the property's location within specific zip codes and any applicable exemptions or deductions. Homeowners in Bland can expect a range of tax bills depending on their property's assessed value. For instance, the 25th percentile tax bill is around $380, while the 75th percentile reaches up to $895. The top 10% of tax bills can go as high as $1,488. These figures indicate that property taxes in Bland can vary significantly, impacting homeowners differently based on their property's assessed value and specific circumstances. Compared to the national median property tax rate of 0.99%, Bland's property taxes reflect a localized approach to funding community services and infrastructure.
Average Bland Tax Bill
$569
Average Bland County Tax Bill
$528
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Bland, Bland County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24315 | $199 | $380 | $569 | $895 | $1,488 |
Source: Ownwell