Wylliesburg, Virginia Property Taxes
The median property tax rate in Wylliesburg, VA is 0.62%, 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 $66,385 in Wylliesburg, the typical annual property tax bill is $409, significantly below the national median of $2,690. Property taxes in Wylliesburg are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Wylliesburg'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 Wylliesburg or another part of Charlotte County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wylliesburg, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$412
$382
Ownwell’s WYLLIESBURG Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in WYLLIESBURG with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in WYLLIESBURG 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 Wylliesburg, Virginia
Property taxes in Wylliesburg, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wylliesburg is 0.62%, which is significantly lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Wylliesburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wylliesburg 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 Wylliesburg's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 23976 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 Wylliesburg 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 Wylliesburg 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 Wylliesburg, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23976 | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Wylliesburg, Virginia
In Wylliesburg, Virginia, understanding the difference between "market value" and "assessed value" is essential 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 Charlotte County assessment office 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 Wylliesburg, 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 Wylliesburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price here is $66,385, with the tax bill ranging from $243 at the 25th percentile to $921 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 23976, with a value of $409.
Average Wylliesburg Assessed Value
$66,385
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 Wylliesburg, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23976 | $15,822 | $42,848 | $66,385 | $101,988 | $162,361 |
Source: Ownwell
Property Tax Bills Across Wylliesburg, Virginia
Property tax bills in Wylliesburg, located in Charlotte County, VA, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the home. For instance, the median home price in Wylliesburg is $66,385. The tax rate, applied to this assessed value, dictates the final tax bill. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. Homeowners in Wylliesburg can expect a range of property tax bills. At the 25th percentile, the tax bill is around $243, while at the 75th percentile, it rises to approximately $623. For those at the 90th percentile, the tax bill can reach up to $921. The highest median tax bill in the area is $409, which aligns with the lowest median tax bill, both found in the zip code 23976. Compared to the national median property tax rate of 0.99%, Wylliesburg's tax bills provide a relatively affordable option for homeowners.
Average Wylliesburg Tax Bill
$409
Average Charlotte County Tax Bill
$441
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Wylliesburg, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23976 | $90 | $243 | $409 | $623 | $921 |
Source: Ownwell