Buckingham County, Virginia Property Taxes
The median property tax rate in Buckingham County is 0.55%, which is significantly lower than both the national median of 0.99% and Virginia's state median of 0.89%. With the median home value in Buckingham County at $107,100, the typical annual property tax bill is $585, far below the national median of $2,690. Property taxes in Buckingham County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions, such as those for primary residences and agricultural properties. Understanding Buckingham 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 Buckingham or another part of the county, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Buckingham County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$589
$547
Ownwell’s Buckingham Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Buckingham with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Buckingham to estimate your property tax bill. This insight 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 Buckingham County, Virginia
Property taxes in Buckingham County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Buckingham County is 0.55%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Buckingham County set these rates annually, and they can vary significantly between different areas within the county. Each year, Buckingham County 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. The following data compares Buckingham County's effective property tax rate with other counties in Virginia and the national median. For comparison, the city of Appomattox has a similar property tax rate at 0.55%. Analyzing how Buckingham County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Buckingham County Tax Rate
0.55%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Buckingham County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Appomattox | 0.55% | 0.55% | 0.55% | 0.55% | 0.55% |
| Arvonia | 0.55% | 0.55% | 0.55% | 0.55% | 0.55% |
| Buckingham | 0.55% | 0.55% | 0.55% | 0.55% | 0.55% |
| Cumberland | 0.55% | 0.55% | 0.55% | 0.55% | 0.55% |
| Dillwyn | 0.55% | 0.55% | 0.55% | 0.55% | 0.55% |
| Farmville | 0.55% | 0.55% | 0.55% | 0.55% | 0.55% |
| Gladstone | 0.55% | 0.55% | 0.55% | 0.55% | 0.55% |
| Howardsville | 0.55% | 0.55% | 0.55% | 0.55% | 0.55% |
| New Canton | 0.55% | 0.55% | 0.55% | 0.55% | 0.55% |
| Scottsville | 0.55% | 0.55% | 0.55% | 0.55% | 0.55% |
| Wingina | 0.55% | 0.55% | 0.55% | 0.55% | 0.55% |
Source: Ownwell
Property Tax Assessment Values Across Buckingham County, Virginia
In Buckingham, 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 Buckingham 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 Buckingham 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, the highest median tax bill in the region is $869 in Appomattox, while the lowest is $502 in Arvonia. Being aware of these valuation processes in Buckingham will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Buckingham County, Virginia
Source: Ownwell
$91,650
$124,825
$158,000
Average Buckingham County Assessed Value
$107,100
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Buckingham County, Virginia
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Appomattox | $96,880 | $112,200 | $158,000 | $203,150 | $238,940 |
| Arvonia | $25,800 | $59,450 | $91,650 | $130,625 | $183,300 |
| Buckingham | $20,500 | $49,200 | $103,900 | $165,500 | $226,060 |
| Cumberland | $25,880 | $74,375 | $102,700 | $140,975 | $199,310 |
| Dillwyn | $31,000 | $74,200 | $113,600 | $162,800 | $228,440 |
| Farmville | $27,030 | $75,750 | $124,150 | $186,575 | $250,100 |
| Gladstone | $27,130 | $63,775 | $110,750 | $166,125 | $235,310 |
| Howardsville | $24,350 | $56,900 | $92,850 | $145,025 | $209,900 |
| New Canton | $25,540 | $60,775 | $98,650 | $142,050 | $203,470 |
| Scottsville | $28,460 | $67,400 | $118,550 | $180,100 | $224,000 |
| Wingina | $23,170 | $51,625 | $98,550 | $133,725 | $184,560 |
Source: Ownwell
Property Tax Bills Across Buckingham County, Virginia
In Buckingham County, VA, property tax bills are calculated based on the assessed value of the property, which is determined by the local assessor's office. The median home price in the county is $107,100, and the tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. Homeowners in Buckingham County can expect tax bills that vary significantly. For instance, the 25th percentile tax bill is $356, while the 75th percentile tax bill is $879. At the 90th percentile, the tax bill reaches $1,222. Comparatively, the highest median tax bill in the region is found in Appomattox at $869, whereas the lowest is in Arvonia at $502. These variations highlight the impact of property assessments and local tax rates on homeowners, making it essential for property owners to stay informed about their property's assessed value and any potential exemptions they may qualify for.
Average Buckingham County Tax Bill
$585
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Buckingham County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Appomattox | $533 | $617 | $869 | $1,117 | $1,314 |
| Arvonia | $142 | $322 | $502 | $718 | $1,008 |
| Buckingham | $111 | $270 | $569 | $898 | $1,237 |
| Cumberland | $142 | $409 | $565 | $775 | $1,096 |
| Dillwyn | $167 | $404 | $619 | $886 | $1,247 |
| Farmville | $146 | $400 | $681 | $1,023 | $1,376 |
| Gladstone | $149 | $351 | $609 | $914 | $1,294 |
| Howardsville | $132 | $313 | $509 | $798 | $1,154 |
| New Canton | $139 | $330 | $539 | $775 | $1,116 |
| Scottsville | $154 | $367 | $648 | $988 | $1,232 |
| Wingina | $123 | $283 | $539 | $730 | $1,001 |
Source: Ownwell