Keysville, Virginia Property Taxes
The median property tax rate in Keysville, VA is 0.62%, considerably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Keysville at $85,103, the typical annual property tax bill is $521, significantly less than the national median of $2,690. Property taxes in Keysville 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 Keysville'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 Keysville or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Keysville, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$528
Ownwell’s Keysville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Keysville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Keysville to provide an estimate of 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 Keysville, Virginia
Property taxes in Keysville, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Keysville is 0.62%, which is lower than the U.S. national median of 0.99%. Local government entities within Keysville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Keysville 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 Keysville's effective property tax rate to other areas in Charlotte County and the national median. For comparison, the zip code 23947 has the highest median property tax rate of 0.62%, while the same zip code also has the lowest median tax rate of 0.62%. Understanding how these areas compare with Keysville provides valuable insights into the varying tax landscape across Charlotte County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Keysville Tax Rate
0.62%
Average Charlotte County Tax Rate
0.62%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Keysville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23947 | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Keysville, Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Keysville, Virginia. 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 Charlotte 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 Keysville, 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 median home price in Keysville is $85,103, with tax bills ranging from $285 at the 25th percentile to $1,175 at the 90th percentile. The zip code with the highest and lowest median tax bill is 23947, with a median tax bill of $521. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Keysville Assessed Value
$85,103
Average Charlotte County Assessed Value
$71,940
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Keysville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23947 | $19,180 | $46,425 | $85,103 | $142,450 | $191,216 |
Source: Ownwell
Property Tax Bills Across Keysville, Virginia
In Keysville, located in Charlotte County, VA, property tax bills are calculated based on the assessed value of a home. The local tax rate is applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $85,103, homeowners can expect varying tax bills depending on the percentile they fall into. The tax bill at the 25th percentile is $285, while at the 75th percentile, it rises to $883. Those in the 90th percentile might see a bill as high as $1,175. These tax bills are influenced by factors such as property size, location, and any improvements made to the property. Compared to the national median property tax rate of 0.99%, Keysville's rates can be seen as relatively moderate. Understanding these factors and how they impact your tax bill is crucial for homeowners, as it directly affects annual financial planning and the overall cost of homeownership.
Average Keysville Tax Bill
$521
Average Charlotte County Tax Bill
$441
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Keysville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23947 | $115 | $285 | $521 | $883 | $1,175 |
Source: Ownwell