Dugspur, Carroll County, Virginia Property Taxes
The median property tax rate in Dugspur, 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 Dugspur at $85,000, the typical annual property tax bill reaches $502, significantly below the national median of $2,690. Property taxes in Dugspur 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 Dugspur'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 Dugspur 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
Dugspur, Carroll County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$502
$465
Ownwell’s Dugspur Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dugspur with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dugspur 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 Dugspur, Carroll County, Virginia
Property taxes in Dugspur, Virginia, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Dugspur is 0.59%, which is lower than the U.S. national median of 0.99%. Local government entities within Dugspur set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dugspur 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 Dugspur's effective property tax rate to other areas in Virginia and the national median. For comparison, the zip code 24325 has both the highest and lowest median property tax rate of 0.59%. Understanding how these areas compare with Dugspur 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 Dugspur 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 Dugspur, Carroll County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24325 | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Dugspur, Carroll County, Virginia
In Dugspur, 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 Dugspur, 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 Dugspur helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $85,000, with tax bills ranging from $290 at the 25th percentile to $1,085 at the 90th percentile. The highest and lowest median tax bills, both at $502, are found in zip code 24325.
Property Tax Assessment Values Across Dugspur, Carroll County, Virginia
Source: Ownwell
$51,750
$101,350
$150,950
Average Dugspur Assessed Value
$85,000
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 Dugspur, Carroll County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24325 | $21,500 | $48,800 | $85,000 | $125,700 | $185,900 |
Source: Ownwell
Property Tax Bills Across Dugspur, Carroll County, Virginia
In Dugspur, Carroll County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in Dugspur is $85,000. Property tax rates are applied to this assessed value to calculate the annual tax bill. For instance, homeowners in Dugspur may see tax bills ranging from $290 at the 25th percentile to $741 at the 75th percentile, with the 90th percentile reaching up to $1,085. The highest and lowest median tax bills in the area are both recorded at $502 in the 24325 zip code. Several factors influence these tax bills, including property size, location, and improvements made to the property. These taxes fund essential public services such as schools, emergency services, and infrastructure maintenance, directly impacting homeowners by contributing to community wellbeing. Compared to the national median property tax rate of 0.99%, Dugspur's tax rates offer a relatively affordable option for homeowners, making it an attractive place for property investment.
Average Dugspur Tax Bill
$502
Average Carroll County Tax Bill
$526
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Dugspur, Carroll County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24325 | $127 | $290 | $502 | $741 | $1,085 |
Source: Ownwell