Mavisdale, Virginia Property Taxes
The median property tax rate in Mavisdale, VA is 0.39%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $55,800 in Mavisdale, the typical annual property tax bill is $218, which is well below the national median of $2,690. Property taxes in Mavisdale are calculated based on the tax assessed value, which generally is lower than the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Mavisdale'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 Mavisdale or another part of Buchanan County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mavisdale, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.39%
Estimate Property Tax Bill
$218
Ownwell’s Mavisdale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mavisdale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mavisdale 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 Mavisdale, Virginia
Property taxes in Mavisdale, VA, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Mavisdale is 0.39%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Mavisdale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mavisdale 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 Mavisdale's effective property tax rate to other counties in Virginia and the national median. For comparison, the highest median property tax rate in the region is 1.25%, while the lowest median tax rate is 0.20%. Understanding how these cities compare with Mavisdale provides valuable insights into the varying tax landscape across Buchanan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mavisdale Tax Rate
0.39%
Average Buchanan County Tax Rate
0.39%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mavisdale, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24627 | 0.39% | 0.39% | 0.39% | 0.39% | 0.39% |
Source: Ownwell
Property Tax Assessment Values Across Mavisdale, Virginia
In Mavisdale, 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 Buchanan 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 Mavisdale, 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. Mavisdale’s median home price is $55,800, with tax bills ranging from $107 at the 25th percentile to $451 at the 90th percentile. The zip code 24627 has both the highest and lowest median tax bill at $218. 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 Mavisdale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mavisdale Assessed Value
$55,800
Average Buchanan County Assessed Value
$48,400
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mavisdale, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24627 | $9,720 | $27,450 | $55,800 | $73,650 | $115,700 |
Source: Ownwell
Property Tax Bills Across Mavisdale, Virginia
In Mavisdale, property tax bills are calculated based on the assessed value of your home. The assessed value is determined by the local tax assessor and is a percentage of the market value of your property. Buchanan County, where Mavisdale is located, uses this assessed value to calculate your tax bill by applying the local tax rate. Homeowners in Mavisdale can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is around $107, while the 75th percentile reaches $287. At the higher end, the 90th percentile tax bill is approximately $451. These figures illustrate the range in property tax bills that homeowners might encounter. Compared to the national median property tax rate of 0.99%, the tax rates in Mavisdale can be seen as relatively moderate. Understanding these factors helps homeowners anticipate their tax obligations and plan their finances accordingly.
Average Mavisdale Tax Bill
$218
Average Buchanan County Tax Bill
$189
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Mavisdale, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24627 | $38 | $107 | $218 | $287 | $451 |
Source: Ownwell