Pearisburg, Virginia Property Taxes
The median property tax rate in Pearisburg, VA is 0.60%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Pearisburg, the typical annual property tax bill is $928, well below the national median of $2,690. Property taxes in Pearisburg are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Pearisburg'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 Pearisburg 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
Pearisburg, 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 Pearisburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pearisburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pearisburg 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 Pearisburg, Virginia
Property taxes in Pearisburg, VA, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pearisburg is 0.60%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Pearisburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pearisburg 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 Pearisburg's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 24134 has the highest median property tax rate of 0.60%, while the same zip code also has the lowest median tax rate of 0.60%. Understanding how these cities compare with Pearisburg 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 Pearisburg 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 Pearisburg, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24134 | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Pearisburg, Virginia
In Pearisburg, 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 Bland 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 Pearisburg, 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 Pearisburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest and lowest median tax bills are both $928 in the 24134 zip code, reflecting the uniformity in tax assessments within the area.
Average Pearisburg Assessed Value
$154,600
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 Pearisburg, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24134 | $78,580 | $98,300 | $154,600 | $287,125 | $408,690 |
Source: Ownwell
Property Tax Bills Across Pearisburg, Virginia
In Pearisburg, property tax bills are calculated based on the assessed value of a property, which is determined by local tax assessors. The median home price in Pearisburg is $154,600. Property taxes are then applied to this assessed value using the local tax rate. For instance, the median property tax bill in Pearisburg is $928.00, which aligns with the national median property tax rate of 0.99%. Factors such as property size, location, and improvements can influence the assessed value, and consequently, the tax bill. Homeowners in Pearisburg can expect tax bills to vary significantly, with the 25th percentile tax bill at $590 and the 75th percentile at $1,723. At the higher end, the 90th percentile tax bill reaches $2,452. These variations can impact homeowners differently, potentially affecting their financial planning and housing affordability. Understanding how these factors interplay can help homeowners anticipate their property tax obligations more accurately.
Average Pearisburg Tax Bill
$928
Average Bland County Tax Bill
$528
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Pearisburg, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24134 | $471 | $590 | $928 | $1,723 | $2,452 |
Source: Ownwell