Botetourt County, Virginia Property Taxes
The median property tax rate in Botetourt County is 0.79%, which is lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Botetourt County, the typical annual property tax bill is $1,521, significantly lower than the national median of $2,690. Property taxes in Botetourt County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Botetourt County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Fincastle or another part of Botetourt County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Botetourt County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$1,591
$1,476
Ownwell’s Botetourt County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Botetourt County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Botetourt County to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Botetourt County, Virginia
Property taxes in Botetourt play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Botetourt is 0.79%, which is lower than the U.S. national median of 0.99%. Local government entities within Botetourt set these rates annually, and they can vary significantly between different areas within the county. Each year, Botetourt estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Blue Ridge has one of the higher property tax rates in the state at 0.79%, while the city of Natural Bridge Station boasts one of the lowest at 0.72%. Analyzing how Botetourt's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Botetourt County Tax Rate
0.79%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Botetourt County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Blue Ridge | 0.79% | 0.79% | 0.79% | 0.79% | 0.79% |
| Buchanan | 0.53% | 0.79% | 0.79% | 0.79% | 0.79% |
| Clifton Forge | 0.48% | 0.79% | 0.79% | 0.79% | 0.79% |
| Cloverdale | 0.79% | 0.79% | 0.79% | 0.79% | 0.79% |
| Daleville | 0.79% | 0.79% | 0.79% | 0.79% | 0.79% |
| Eagle Rock | 0.48% | 0.79% | 0.79% | 0.79% | 0.79% |
| Fincastle | 0.50% | 0.79% | 0.79% | 0.79% | 0.79% |
| Hollins | N/A | N/A | N/A | N/A | N/A |
| Natural Bridge Station | N/A | N/A | N/A | N/A | N/A |
| Roanoke | 0.79% | 0.79% | 0.79% | 0.79% | 0.79% |
| Salem | 0.79% | 0.79% | 0.79% | 0.79% | 0.79% |
| Troutville | 0.77% | 0.79% | 0.79% | 0.79% | 0.79% |
Source: Ownwell
Property Tax Assessment Values Across Botetourt County, Virginia
In Botetourt County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Botetourt County Appraisal District. The assessed value, however, 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 in Botetourt County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, Natural Bridge Station has the highest median tax bill at $3,431, while Hollins has the lowest at $436. Being aware of these valuation processes in Botetourt County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Botetourt County, Virginia
Source: Ownwell
$83,700
$200,300
$316,900
Average Botetourt County Assessed Value
$201,400
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Botetourt County, Virginia
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Blue Ridge | $98,380 | $160,300 | $199,200 | $263,900 | $359,020 |
| Buchanan | $36,900 | $84,875 | $133,500 | $215,225 | $326,440 |
| Clifton Forge | $19,200 | $50,800 | $83,700 | $117,000 | $153,800 |
| Cloverdale | $91,180 | $97,000 | $151,500 | $238,600 | $263,300 |
| Daleville | $185,240 | $222,700 | $305,400 | $427,450 | $516,460 |
| Eagle Rock | $19,680 | $40,500 | $94,150 | $160,675 | $252,610 |
| Fincastle | $81,690 | $131,700 | $225,500 | $332,375 | $474,250 |
| Hollins | N/A | N/A | N/A | N/A | N/A |
| Natural Bridge Station | N/A | N/A | N/A | N/A | N/A |
| Roanoke | $118,310 | $179,650 | $238,100 | $311,825 | $385,530 |
| Salem | $165,100 | $211,700 | $316,900 | $434,900 | $485,900 |
| Troutville | $97,420 | $149,650 | $210,900 | $292,200 | $394,540 |
Source: Ownwell
Property Tax Bills Across Botetourt County, Virginia
In Botetourt County, VA, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The county's tax rate is applied to this assessed value to determine the annual tax bill. Several factors influence the final tax amount, including the home's location, size, and condition. For instance, homeowners in Natural Bridge Station face the highest median tax bill at $3,431, while those in Hollins encounter the lowest at $436. The median home price in Botetourt County stands at $201,400, and tax bills can vary significantly. Homeowners at the 25th percentile pay around $884, whereas those at the 75th percentile pay approximately $2,200. At the 90th percentile, the tax bill can reach up to $3,045. These variations affect homeowners' budgets and can influence decisions on home purchases and investments. Compared to the national median property tax rate of 0.99%, Botetourt County's rates reflect the regional economic conditions and property values.
Average Botetourt County Tax Bill
$1,521
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Botetourt County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Blue Ridge | $626 | $1,234 | $1,559 | $2,052 | $2,795 |
| Buchanan | $235 | $584 | $994 | $1,559 | $2,288 |
| Clifton Forge | $122 | $308 | $648 | $884 | $1,124 |
| Cloverdale | $621 | $748 | $1,146 | $1,880 | $2,075 |
| Daleville | $1,277 | $1,656 | $2,295 | $3,272 | $3,993 |
| Eagle Rock | $126 | $280 | $678 | $1,151 | $1,750 |
| Fincastle | $480 | $965 | $1,640 | $2,417 | $3,402 |
| Hollins | N/A | N/A | N/A | N/A | N/A |
| Natural Bridge Station | N/A | N/A | N/A | N/A | N/A |
| Roanoke | $808 | $1,382 | $1,838 | $2,440 | $3,006 |
| Salem | $927 | $1,660 | $2,504 | $3,465 | $3,840 |
| Troutville | $618 | $1,099 | $1,618 | $2,228 | $3,006 |
Source: Ownwell