Evington, Virginia Property Taxes
The median property tax rate in Evington, VA is 0.45%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Evington at $198,900, the typical annual property tax bill is $896, which is well below the national median of $2,690. Property taxes in Evington are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural land. Understanding Evington'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 Evington or another part of Campbell County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Evington, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.45%
Estimate Property Tax Bill
$895
$831
Ownwell’s Evington Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Evington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Evington 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 Evington, Virginia
Property taxes in Evington, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Evington is 0.45%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Evington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Evington 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 Evington's effective property tax rate to other counties in Virginia and the national median. For comparison, the 24550 zip code has the highest median property tax rate of 0.45%, while the same zip code also has the lowest median tax rate of 0.45%. Understanding how these cities compare with Evington provides valuable insights into the varying tax landscape across Campbell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Evington Tax Rate
0.45%
Average Campbell County Tax Rate
0.45%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Evington, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24550 | 0.45% | 0.45% | 0.45% | 0.45% | 0.45% |
Source: Ownwell
Property Tax Assessment Values Across Evington, Virginia
In Evington, 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 Campbell 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 Evington, 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. For example, the median home price in Evington is $198,900, and the median tax bill ranges from $549 at the 25th percentile to $1,328 at the 75th percentile. The highest and lowest median tax bills are both $896 in the 24550 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Evington Assessed Value
$198,900
Average Campbell County Assessed Value
$187,800
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Evington, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24550 | $55,200 | $121,150 | $198,900 | $294,800 | $428,200 |
Source: Ownwell
Property Tax Bills Across Evington, Virginia
In Evington, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is typically a percentage of the market value of the property. Homeowners in Evington, Campbell County, can expect their property tax bills to vary significantly. For instance, the median home price in the area is $198,900. Tax bills at the 25th percentile are around $549, while those at the 75th percentile can reach up to $1,328. At the 90th percentile, homeowners might see tax bills as high as $1,929. These variations depend on several factors, including property size, location, and any applicable exemptions or deductions. The median property tax rate in Evington is notably lower compared to the national median property tax rate of 0.99%. This relatively lower tax burden can make homeownership more affordable, but it's essential for homeowners to stay informed about their assessed values and any changes in local tax rates.
Average Evington Tax Bill
$896
Average Campbell County Tax Bill
$848
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Evington, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24550 | $256 | $549 | $896 | $1,328 | $1,929 |
Source: Ownwell