Buckingham, Buckingham County, Virginia Property Taxes

Name: Property Tax Bills Across Buckingham, Buckingham County, Virginia
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Buckingham, VA effective property tax rate: 0.55%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Buckingham, VA home value: $103,900
Median annual Buckingham, VA tax bill: $569, $1,831 lower than the national median property tax bill of $2,400.

How are property taxes in Buckingham calculated?

Property taxes in Buckingham, VA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding Buckingham’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Buckingham, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Buckingham, Buckingham County, Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.55%

Estimate Property Tax Bill

$571

$530

Ownwell’s Buckingham Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Buckingham with just two data points. By entering your property's estimated assessed value, our calculator applies Buckingham’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Buckingham County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Buckingham, Buckingham County, Virginia

Local government entities determine tax rates, which can vary significantly within a state. Each county annually estimates its required budget for providing services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is essentially the annual process. In Buckingham, VA, property owners experience a median property tax rate of 0.55%, which is significantly lower than the national median property tax rate of 1.02%. This means that residents in Buckingham benefit from a lower tax burden compared to many other areas in the U.S. Comparing Buckingham's property tax rate to other cities in Virginia, it stands out as a region with a relatively low tax rate. This can be a significant advantage for homeowners in Buckingham, offering them potential savings compared to the national median property tax bill of $2400.

Property Tax Rates Across Buckingham, Buckingham County, Virginia

Source: Ownwell

0.55%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Buckingham Tax Rate

0.55%

Median Effective Buckingham County Tax Rate

0.55%

Median Effective Virginia Tax Rate

0.89%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Buckingham, Buckingham County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
23921	0.55%	0.55%	0.55%	0.55%	0.55%

Source: Ownwell

Property Tax Assessment Values Across Buckingham, Buckingham County, Virginia

When examining property taxes in Buckingham, VA, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Buckingham County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.

Assessment notices are sent in the spring each year in Buckingham County, typically reaching your mailbox by the middle of the season. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Buckingham.

For example, the median home price in Buckingham is $103,900, with tax bills ranging significantly across the county. Zip code 23921 has the highest median home price at $103,900.

Property Tax Assessment Values Across Buckingham, Buckingham County, Virginia

Source: Ownwell

$91,650

$124,825

$158,000

Median Buckingham Market Value

$103,900

Median Buckingham County Market Value

$107,100

Median Virginia Market Value

$298,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Buckingham, Buckingham County, Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
23921	$20,500	$49,200	$103,900	$165,500	$226,060

Source: Ownwell

Property Tax Bills Across Buckingham, Buckingham County, Virginia

In Buckingham, VA, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. For example, with a median home price of $103,900, homeowners face varying tax bills depending on their property's assessed value and the local tax rate. The tax bill at the 25th percentile is $270, while at the 75th percentile, it rises to $898, and at the 90th percentile, it reaches $1,237. This is notably lower than the national median property tax bill of $2,400. These taxes fund essential local services such as schools, infrastructure, and emergency services, impacting homeowners by contributing to community development and property value stability. However, high property taxes can be a financial burden. That's where Ownwell comes in. By providing expert property tax appeal and exemption services, Ownwell helps homeowners in Buckingham potentially reduce their tax bills, ensuring they pay only their fair share. This can lead to significant savings and financial relief for homeowners.

Property Tax Bills Across Buckingham, Buckingham County, Virginia

Source: Ownwell

$502

$686

$869

Median Buckingham Tax Bill

$569

Median Buckingham County Tax Bill

$585

Median Virginia Tax Bill

$2,608

Median United States Tax Bill

$2,400

Property Tax Bills Across Buckingham, Buckingham County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
23921	$111	$270	$569	$898	$1,237

Source: Ownwell