Valentines, Virginia Property Taxes
The median property tax rate in Valentines, VA is 0.65%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Valentines at $102,150, the typical annual property tax bill is $664, well below the national median of $2,690. Property taxes in Valentines are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions, such as the primary residence and agricultural exemptions. Understanding Valentines' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Valentines 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
Valentines, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$664
Ownwell’s Valentines Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Valentines with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Valentines 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 Valentines, Virginia
Property taxes in Valentines, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Valentines is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within Valentines set these rates annually, and they can vary significantly across different neighborhoods. Each year, Valentines 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 Valentines' effective property tax rate to other areas in Brunswick County and the national median. For comparison, the zip code 23887 has the highest median property tax rate of 0.65%, while the same zip code also has the lowest median tax rate of 0.65%. Understanding how these areas compare with Valentines 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 Valentines 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 Valentines, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23887 | 0.65% | 0.65% | 0.65% | 0.65% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Valentines, Virginia
In Valentines, 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 Valentines, 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 Valentines helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 23887, both at $664.
Average Valentines Assessed Value
$102,150
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 Valentines, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23887 | $11,250 | $21,625 | $102,150 | $277,850 | $448,400 |
Source: Ownwell
Property Tax Bills Across Valentines, Virginia
In Valentines, located in Brunswick County, VA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Valentines face a range of property tax bills, with the 25th percentile at $141, indicating that a quarter of the homeowners pay this amount or less. Conversely, the 75th percentile tax bill is $1,806, and the 90th percentile reaches $2,915, showing a significant variation depending on property values. The median home price in Valentines is $102,150, which influences the overall tax bill. Compared to the national median property tax rate of 0.99%, the tax rates in Valentines can vary widely. Homeowners must budget for these taxes, as they directly impact annual housing costs. Understanding these factors can help residents anticipate their financial responsibilities and plan accordingly.
Average Valentines Tax Bill
$664
Average Brunswick County Tax Bill
$272
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Valentines, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23887 | $73 | $141 | $664 | $1,806 | $2,915 |
Source: Ownwell