Howardsville, Virginia Property Taxes
The median property tax rate in Howardsville, VA is 0.55%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $92,850 in Howardsville, the typical annual property tax bill comes to $509, well below the national median of $2,690. Property taxes in Howardsville are calculated based on the assessed value, which is often less than the market value due to various exemptions such as those for primary residences and agricultural use. Understanding Howardsville'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 Howardsville or another part of Buckingham County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Howardsville, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$511
Ownwell’s Howardsville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Howardsville with ease. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Howardsville to provide an accurate estimate of your property tax bill. This invaluable tool helps you gauge potential tax liabilities effectively. For those interested in more granular insights, localized information is available further down the page. Your property’s assessed value, determined by Buckingham County, is used for these calculations, taking into account any applicable exemptions.
Property Tax Rates Across Howardsville, Virginia
Property taxes in Howardsville, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Howardsville is 0.55%, lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Howardsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Howardsville 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 Howardsville's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 24562 has the highest median property tax rate of 0.55%, while the same zip code also has the lowest median tax rate of 0.55%. Understanding how these cities compare with Howardsville 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 Howardsville 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 Howardsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24562 | 0.55% | 0.55% | 0.55% | 0.55% | 0.55% |
Source: Ownwell
Property Tax Assessment Values Across Howardsville, Virginia
In Howardsville, 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 Buckingham 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 Howardsville, 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. Howardsville's median home price is $92,850, with tax bills varying significantly. The 25th percentile tax bill is $313, while the 90th percentile tax bill reaches $1,154. The highest and lowest median tax bills are both $509, found in the 24562 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Howardsville Assessed Value
$92,850
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 Howardsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24562 | $24,350 | $56,900 | $92,850 | $145,025 | $209,900 |
Source: Ownwell
Property Tax Bills Across Howardsville, Virginia
In Howardsville, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Howardsville is $92,850. Property taxes are then applied to this assessed value to determine the final tax bill. The tax bill can vary significantly depending on the assessed value and the specific tax rate applied. For instance, the tax bill at the 25th percentile is $313, while at the 75th percentile, it rises to $798. At the 90th percentile, homeowners can expect to pay around $1,154. These figures indicate that property taxes in Howardsville can have a considerable impact on homeowners, especially when compared to the national median property tax rate of 0.99%. While the highest and lowest median tax bills in the area are both $509, homeowners should be aware of the potential variability in their annual tax obligations. Understanding these factors is crucial for effective financial planning.
Average Howardsville Tax Bill
$509
Average Buckingham County Tax Bill
$585
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Howardsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24562 | $132 | $313 | $509 | $798 | $1,154 |
Source: Ownwell