Colonial Heights County, Virginia Property Taxes
The median property tax rate in Colonial Heights is 1.20%, which is significantly higher than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Colonial Heights, the typical annual property tax bill reaches $2,075. Property taxes in Colonial Heights are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Colonial Heights' specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Colonial Heights or another part of the county, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Colonial Heights County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.2%
Estimate Property Tax Bill
$2,099
$1,948
Ownwell’s Colonial Heights Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Colonial Heights with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Colonial Heights to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Colonial Heights County, Virginia
Property taxes in Colonial Heights play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Colonial Heights is 1.20%, which is higher than the U.S. national median of 0.99%. Local government entities within Colonial Heights set these rates annually, and they can vary significantly between different areas within the county. Each year, Colonial Heights estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Colonial Heights' effective property tax rate with other counties and the national median. For comparison, the city of Colonial Heights has one of the higher property tax rates in Virginia at 1.20%. Analyzing how Colonial Heights' tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Colonial Heights County Tax Rate
1.20%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Colonial Heights County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Colonial Heights | 1.20% | 1.20% | 1.20% | 1.20% | 1.20% |
| South Chesterfield | 0.96% | 1.20% | 1.20% | 1.20% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Colonial Heights County, Virginia
In Colonial Heights, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Colonial Heights Appraisal District. The assessed value, however, 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 Colonial Heights are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Colonial Heights will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. For instance, South Chesterfield has the highest median tax bill at $2,675, while Colonial Heights itself has the lowest median tax bill at $2,074. Knowing these details can provide valuable context for your property tax planning.
Property Tax Assessment Values Across Colonial Heights County, Virginia
Source: Ownwell
$174,700
$198,800
$222,900
Average Colonial Heights County Assessed Value
$174,900
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Colonial Heights County, Virginia
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Colonial Heights | $123,400 | $142,700 | $174,700 | $221,700 | $272,400 |
| South Chesterfield | $165,920 | $188,600 | $222,900 | $303,600 | $402,000 |
Source: Ownwell
Property Tax Bills Across Colonial Heights County, Virginia
In Colonial Heights, VA, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. The median home price in this county is $174,900. Homeowners can expect their tax bills to vary significantly depending on the assessed value of their property and the local tax rate. For instance, the 25th percentile tax bill is $1,652, while the 75th percentile reaches $2,666. The 90th percentile tax bill can be as high as $3,317, indicating a wide range of tax liabilities. Several factors influence the tax bill, including property size, location, and any improvements made to the home. Comparatively, the highest median tax bill in the area is $2,675 in South Chesterfield, while the lowest is $2,074 in Colonial Heights. These tax bills can impact homeowners significantly, affecting their annual budgeting and long-term financial planning. Understanding these factors can help homeowners better anticipate their property tax responsibilities.
Average Colonial Heights County Tax Bill
$2,075
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Colonial Heights County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Colonial Heights | $1,362 | $1,652 | $2,074 | $2,663 | $3,311 |
| South Chesterfield | $1,264 | $1,999 | $2,675 | $3,643 | $5,540 |
Source: Ownwell