Brodnax, Virginia Property Taxes
The median property tax rate in Brodnax, VA is 0.65%, which is significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $40,600 in Brodnax, the typical annual property tax bill amounts to $237, far below the national median of $2,690. Property taxes in Brodnax 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 Brodnax'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 Brodnax or another part of Brunswick County, gaining insights into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Brodnax, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$264
$245
Ownwell’s Brodnax Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Brodnax with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Brodnax to provide an estimate of 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 Brodnax, Virginia
Property taxes in Brodnax, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brodnax is 0.65%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Brodnax set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brodnax 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 Brodnax's effective property tax rate to other counties in Virginia and the national median. For comparison, the 23920 zip code has the highest median property tax rate of 0.65%, while the same zip code has the lowest median tax rate of 0.65%. Understanding how these cities compare with Brodnax provides valuable insights into the varying tax landscape across Brunswick County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brodnax Tax Rate
0.65%
Average Brunswick County Tax Rate
0.65%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brodnax, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23920 | 0.65% | 0.65% | 0.65% | 0.65% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Brodnax, Virginia
In Brodnax, 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 Brunswick 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 Brodnax, 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 Brodnax helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Brodnax are both $237, occurring in the zip code 23920.
Average Brodnax Assessed Value
$40,600
Average Brunswick County Assessed Value
$41,900
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brodnax, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23920 | $20,240 | $25,800 | $40,600 | $84,600 | $136,080 |
Source: Ownwell
Property Tax Bills Across Brodnax, Virginia
Property tax bills in Brodnax, located in Brunswick County, VA, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is an estimate of the property's market value as determined by the county assessor. For example, with a median home price of $40,600 in Brodnax, homeowners can expect varying tax bills. The tax bill can range significantly depending on the specific property and its assessed value. For instance, the 25th percentile tax bill is $162, while the 75th percentile reaches $519, and the 90th percentile can go as high as $823. The highest and lowest median tax bills in the area are both $237, indicating a relatively consistent tax rate within the zip code 23920. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. While the national median property tax rate stands at 0.99%, the specific rates in Brodnax can impact homeowners differently, emphasizing the importance of understanding local property tax regulations and assessments.
Average Brodnax Tax Bill
$237
Average Brunswick County Tax Bill
$272
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Brodnax, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23920 | $135 | $162 | $237 | $519 | $823 |
Source: Ownwell