Saxe, Virginia Property Taxes
The median property tax rate in Saxe, VA is 0.62%, which is significantly lower than both the national median of 0.99% and Virginia's state median of 0.89%. With a median home value of $60,112, the typical annual property tax bill in Saxe amounts to $371, far below the national median of $2,690. Property taxes in Saxe are based on the tax assessed value, which is often less than the market value due to various exemptions, such as those for primary residences and agricultural properties. By understanding Saxe's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're residing in the heart of Saxe or elsewhere in Charlotte County, a thorough comprehension of the local property tax system can provide financial benefits.
Last Updated June 14, 2024
Saxe, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$373
$346
Ownwell’s Saxe Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Saxe with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saxe 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 Saxe, Virginia
Property taxes in Saxe, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saxe is 0.62%, which is lower than the U.S. national median of 0.99%. Local government entities within Saxe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saxe 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 Saxe's effective property tax rate to other counties in Virginia and the national median. For comparison, the 23967 zip code has the highest median property tax rate of 0.62%, while the same 23967 zip code also has the lowest median tax rate of 0.62%. Understanding how these zip codes compare with Saxe 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 Saxe 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 Saxe, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23967 | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Saxe, Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Saxe, 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. Assessment notices in Saxe 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. The median home price in Saxe is $60,112, with tax bills ranging from $194 at the 25th percentile to $844 at the 90th percentile. The highest and lowest median tax bill, both at $371, are found in the 23967 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 Saxe Assessed Value
$60,112
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 Saxe, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23967 | $14,701 | $32,360 | $60,112 | $90,584 | $137,472 |
Source: Ownwell
Property Tax Bills Across Saxe, Virginia
In Saxe, VA, property tax bills are calculated based on the assessed value of a property and the local tax rate set by Charlotte County. The assessed value is determined by the county assessor and reflects the market value of the property. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual property tax bill. Several factors influence the assessed value, including the property's location, size, and condition. For homeowners in Saxe, this means that property taxes can vary significantly. For instance, the tax bill for the 25th percentile is $194, while the 75th percentile reaches $561. At the 90th percentile, homeowners might pay as much as $844. Comparatively, the national median property tax rate is 0.99%, making Saxe's rates relatively moderate. Understanding how these factors interplay helps homeowners anticipate their tax obligations and plan accordingly, ensuring they are not caught off guard by their annual property tax bill.
Average Saxe Tax Bill
$371
Average Charlotte County Tax Bill
$441
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Saxe, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23967 | $90 | $194 | $371 | $561 | $844 |
Source: Ownwell