Warfield, Virginia Property Taxes
The median property tax rate in Warfield, VA is 0.65%, considerably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Warfield at $33,750, the typical annual property tax bill is $254, significantly below the national median of $2,690. Property taxes in Warfield 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 land. By understanding Warfield's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve substantial annual savings. Whether you're in the heart of Warfield or another part of the city, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Warfield, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$219
$204
Ownwell’s Warfield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Warfield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Warfield 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 Warfield, Virginia
Property taxes in Warfield, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Warfield 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 Warfield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Warfield 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 Warfield's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 23889 has both the highest and lowest median property tax rate in the region, with a rate of 0.65%. Understanding how these areas compare with Warfield 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 Warfield 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 Warfield, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23889 | 0.65% | 0.65% | 0.65% | 0.65% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Warfield, Virginia
In Warfield, 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 Warfield, 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 Warfield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Warfield is $33,750, with the highest and lowest median tax bills both being $254 in the zip code 23889.
Average Warfield Assessed Value
$33,750
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 Warfield, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23889 | $21,030 | $26,850 | $33,750 | $67,600 | $207,280 |
Source: Ownwell
Property Tax Bills Across Warfield, Virginia
In Warfield, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the tax rate set by Brunswick County. For example, with a median home price of $33,750, homeowners can expect varying tax bills depending on the specific assessed value and applicable exemptions. The 25th percentile tax bill is around $181, while the 75th percentile reaches $469, and the 90th percentile can go as high as $1,621. These figures indicate that property taxes in Warfield can significantly impact homeowners' finances, particularly those with higher-valued properties. Compared to the national median property tax rate of 0.99%, Warfield's rates can be considered relatively moderate, although individual experiences may vary. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Warfield Tax Bill
$254
Average Brunswick County Tax Bill
$272
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Warfield, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23889 | $174 | $181 | $254 | $469 | $1,621 |
Source: Ownwell