Cana, Virginia Property Taxes
The median property tax rate in Cana, 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 Cana at $73,200, the typical annual property tax bill is $430, significantly less than the national median of $2,690. Property taxes in Cana 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 Cana'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 Cana 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
Cana, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$432
Ownwell’s Cana Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Cana with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cana 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 Cana, Virginia
Property taxes in Cana, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cana is 0.59%, lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Cana set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cana 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 Cana's effective property tax rate to other counties in Virginia and the national median. For comparison, the 24317 zip code has both the highest and lowest median property tax rate of 0.59%. Understanding how these cities compare with Cana 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 Cana 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 Cana, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24317 | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Cana, Virginia
In Cana, 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 Cana, 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 instance, the highest median tax bill in Cana is $430.00 in zip code 24317, while the lowest median tax bill is also $430.00 in the same 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 Cana Assessed Value
$73,200
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 Cana, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24317 | $15,390 | $32,300 | $73,200 | $108,225 | $161,010 |
Source: Ownwell
Property Tax Bills Across Cana, Virginia
In Cana, located in Carroll County, VA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor's office and is typically a percentage of the property's market value. For example, with a median home price of $73,200, the tax bill can vary significantly. Homeowners at the 25th percentile pay around $188, while those at the 75th percentile face tax bills of about $638. At the 90th percentile, the tax bill can reach up to $949. Factors influencing these tax bills include the property's assessed value, the local tax rate, and any applicable exemptions or deductions. The local tax rate in Carroll County is compared to the national median property tax rate of 0.99%. Understanding these elements is crucial for homeowners, as property taxes can impact their overall financial planning and homeownership costs. By staying informed, homeowners in Cana can better anticipate their annual property tax obligations and manage their budgets accordingly.
Average Cana Tax Bill
$430
Average Carroll County Tax Bill
$526
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Cana, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24317 | $89 | $188 | $430 | $638 | $949 |
Source: Ownwell