Ruthville, Virginia Property Taxes
The median property tax rate in Ruthville, VA is 0.83%, which is lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $83,000 in Ruthville, the typical annual property tax bill amounts to $691, significantly less than the national median of $2,690. Property taxes in Ruthville are determined based on the assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Ruthville'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 Ruthville or another part of the city, understanding the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Ruthville, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$689
Ownwell’s Ruthville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ruthville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ruthville 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 Ruthville, Virginia
Property taxes in Ruthville, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ruthville is 0.83%, which is lower than the U.S. national median of 0.99%. Local government entities within Ruthville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ruthville 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 Ruthville's effective property tax rate to other counties in Virginia and the national median. For comparison, the 23147 zip code has both the highest and lowest median property tax rate of 0.83%. Understanding how these cities compare with Ruthville provides valuable insights into the varying tax landscape across Charles City County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ruthville Tax Rate
0.83%
Average Charles City County Tax Rate
0.82%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ruthville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23147 | 0.74% | 0.78% | 0.83% | 0.86% | 0.86% |
Source: Ownwell
Property Tax Assessment Values Across Ruthville, Virginia
In Ruthville, 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 Charles City County Assessor 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 Ruthville, 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. The median home price in Ruthville is $83,000, with tax bills ranging from $608 at the 25th percentile to $1,302 at the 90th percentile. The highest and lowest median tax bills are both $691, found in the 23147 zip code. 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 Ruthville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Ruthville Assessed Value
$83,000
Average Charles City County Assessed Value
$130,500
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ruthville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23147 | $54,260 | $77,475 | $83,000 | $146,350 | $156,340 |
Source: Ownwell
Property Tax Bills Across Ruthville, Virginia
In Ruthville, Charles City, VA, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by the local assessor's office and is intended to reflect the market value of the property. This value is then multiplied by the local tax rate to determine the annual tax bill. For Ruthville, the median home price is $83,000, which provides a basis for calculating property taxes. Several factors influence the tax bill, including property size, location, and any improvements made to the property. Homeowners in Ruthville can expect their tax bills to vary, with the 25th percentile at $608 and the 75th percentile at $1173. For those at the 90th percentile, the tax bill can reach up to $1302. Comparatively, the highest and lowest median tax bills in the area are both $691, highlighting a relatively narrow range in property tax costs. These property taxes significantly impact homeowners, contributing to local services such as schools, public safety, and infrastructure. Understanding how these taxes are calculated helps homeowners better manage their financial planning and property investments.
Average Ruthville Tax Bill
$691
Average Charles City County Tax Bill
$1,115
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Ruthville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23147 | $459 | $608 | $691 | $1,173 | $1,302 |
Source: Ownwell