Arvonia, Virginia Property Taxes
The median property tax rate in Arvonia, VA is 0.55%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Arvonia, the typical annual property tax bill amounts to $502, far below the national median of $2,690. Property taxes in Arvonia are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Arvonia'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 Arvonia or another part of Buckingham County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Arvonia, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$504
Ownwell’s Arvonia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Arvonia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Arvonia 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 Arvonia, Virginia
Property taxes in Arvonia, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Arvonia is 0.55%, lower than the U.S. national median of 0.99%. Local government entities within Arvonia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Arvonia 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 Arvonia's effective property tax rate to other counties in Virginia and the national median. For comparison, the 23004 zip code has both the highest and lowest median property tax rate of 0.55%. Understanding how these cities compare with Arvonia provides valuable insights into the varying tax landscape across Buckingham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Arvonia Tax Rate
0.55%
Average Buckingham County Tax Rate
0.55%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Arvonia, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23004 | 0.55% | 0.55% | 0.55% | 0.55% | 0.55% |
Source: Ownwell
Property Tax Assessment Values Across Arvonia, Virginia
In Arvonia, 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 Buckingham County 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 Arvonia, 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 Arvonia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 23004 has both the highest and lowest median tax bill at $502.
Average Arvonia Assessed Value
$91,650
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 Arvonia, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23004 | $25,800 | $59,450 | $91,650 | $130,625 | $183,300 |
Source: Ownwell
Property Tax Bills Across Arvonia, Virginia
In Arvonia, located in Buckingham County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. The median home price in Arvonia is $91,650. Property tax rates are applied to this assessed value to determine the tax bill. Various factors, such as property size, location, and market conditions, influence the assessed value. Homeowners in Arvonia can expect their property tax bills to vary. For instance, the tax bill at the 25th percentile is around $322, while at the 75th percentile, it reaches approximately $718. Those in the 90th percentile might see tax bills as high as $1,008. The highest and lowest median tax bills in the area are both $502, indicating a relatively uniform property tax rate within the specific zip code 23004. Compared to the national median property tax rate of 0.99%, Arvonia's property taxes can be considered moderate. This system ensures that property taxes are fairly distributed based on the home's assessed value, impacting homeowners' annual expenses.
Average Arvonia Tax Bill
$502
Average Buckingham County Tax Bill
$585
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Arvonia, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23004 | $142 | $322 | $502 | $718 | $1,008 |
Source: Ownwell