Austinville, Virginia Property Taxes
The median property tax rate in Austinville, VA is 0.59%, considerably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Austinville at $82,350, the typical annual property tax bill is $482, significantly below the national median of $2,690. Property taxes in Austinville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Austinville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Austinville or another part of Carroll County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Austinville, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$486
Ownwell’s Austinsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Austinsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Austinsville 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 Austinville, Virginia
Property taxes in Austinsville, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Austinsville is 0.59%, lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Austinsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Austinsville 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 Austinsville's effective property tax rate to other counties in Virginia and the national median. For comparison, the 24312 zip code has both the highest and lowest median property tax rate of 0.59%. Understanding how these cities compare with Austinsville 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 Austinville 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 Austinville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24312 | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Austinville, Virginia
In Austenville, 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 Austenville, 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. Austenville has a median home price of $82,350, with tax bills ranging from $236 at the 25th percentile to $1,053 at the 90th percentile. The highest and lowest median tax bills are both $482, found in zip code 24312. Being aware of these valuation processes in Austenville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Austinville Assessed Value
$82,350
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 Austinville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24312 | $18,620 | $42,800 | $82,350 | $123,425 | $179,960 |
Source: Ownwell
Property Tax Bills Across Austinville, Virginia
In Austinvile, VA, property tax bills are calculated based on the assessed value of the home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the property. Homeowners in Austinvile can expect their tax bill to be influenced by several factors, including the property's location, size, and condition. For instance, the median home price in Austinvile is $82,350. Property tax bills can vary significantly, with the 25th percentile tax bill at $236 and the 75th percentile at $726. At the 90th percentile, homeowners might see a tax bill as high as $1,053. The highest median tax bill in the area is $482, found in the 24312 zip code, which also has the lowest median tax bill at the same amount. These property taxes directly impact homeowners by contributing to local services such as schools, public safety, and infrastructure, making it important for residents to understand how their tax bills are determined and what they support.
Average Austinville Tax Bill
$482
Average Carroll County Tax Bill
$526
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Austinville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24312 | $106 | $236 | $482 | $726 | $1,053 |
Source: Ownwell