Allisonia, Carroll County, Virginia Property Taxes
The median property tax rate in Allisonia, VA is 0.59%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $71,850 in Allisonia, the typical annual property tax bill amounts to $424, which is well below the national median of $2,690. Property taxes in Allisonia are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Allisonia'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 Allisonia or another part of Carroll County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Allisonia, Carroll County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$424
$393
Ownwell’s Allisonia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Allisonia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Allisonia 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 Allisonia, Carroll County, Virginia
Property taxes in Allisonia, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Allisonia is 0.59%, significantly lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Allisonia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Allisonia 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 Allisonia's effective property tax rate to other counties in Virginia and the national median. For comparison, the 24347 zip code has the highest median property tax rate of 0.59%, while the 24347 zip code also has the lowest median tax rate of 0.59%. Understanding how these cities compare with Allisonia provides valuable insights into the varying tax landscape across Carroll County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Allisonia Tax Rate
0.59%
Average Carroll County Tax Rate
0.59%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Allisonia, Carroll County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24347 | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Allisonia, Carroll County, Virginia
In Allisonia, 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 Carroll 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 Allisonia, 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 Allisonia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Allisonia is $71,850, with the highest median tax bill found in zip code 24347 at $424. By staying informed, homeowners can take proactive steps to reduce their property tax liabilities.
Property Tax Assessment Values Across Allisonia, Carroll County, Virginia
Source: Ownwell
$51,750
$101,350
$150,950
Average Allisonia Assessed Value
$71,850
Average Carroll County Assessed Value
$88,700
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Allisonia, Carroll County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24347 | $24,890 | $44,425 | $71,850 | $111,825 | $132,000 |
Source: Ownwell
Property Tax Bills Across Allisonia, Carroll County, Virginia
In Allisonia, located in Carroll County, VA, property tax bills are calculated based on the assessed value of the property. The median home price in this area is $71,850. The tax rate is applied to this assessed value to determine the annual tax bill. Homeowners in Allisonia can expect their tax bills to vary significantly, with the 25th percentile paying around $262, while those in the 75th percentile see bills closer to $660. At the 90th percentile, tax bills can reach up to $779. Several factors influence these tax bills, including property size, location, and any improvements made to the property. Compared to the national median property tax rate of 0.99%, homeowners in Allisonia experience a relatively moderate tax burden. Understanding these factors can help homeowners better anticipate their annual expenses and plan accordingly. This tax structure ensures that property taxes are fairly distributed, reflecting the property's value and the services provided by the county.
Average Allisonia Tax Bill
$424
Average Carroll County Tax Bill
$526
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Allisonia, Carroll County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24347 | $147 | $262 | $424 | $660 | $779 |
Source: Ownwell