Cumberland County, Virginia Property Taxes
The median property tax rate in Cumberland is 0.75%, which is lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Cumberland at $125,850, the typical annual property tax bill amounts to $944, significantly less than the national median of $2,690. Property taxes in Cumberland are calculated based on the tax assessed value, which is often lower than the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Cumberland's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in a city or another part of Cumberland, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cumberland County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.75%
Estimate Property Tax Bill
$944
$876
Ownwell’s Cumberland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cumberland with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Cumberland 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 Cumberland County, Virginia
Property taxes in Cumberland play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Cumberland is 0.75%, which is lower than the U.S. national median of 0.99%. Local government entities within Cumberland set these rates annually, and they can vary significantly between different areas within the county. Each year, Cumberland 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 Cumberland's effective property tax rate with other regions in Virginia and the national median. For comparison, the city of Powhatan has one of the higher property tax rates in Virginia at 0.75%, while the city of Columbia also boasts one of the lowest at 0.75%. Analyzing how Cumberland's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Cumberland County Tax Rate
0.75%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cumberland County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Cartersville | 0.75% | 0.75% | 0.75% | 0.75% | 0.75% |
| Columbia | 0.75% | 0.75% | 0.75% | 0.75% | 0.75% |
| Cumberland | 0.75% | 0.75% | 0.75% | 0.75% | 0.75% |
| Dillwyn | 0.75% | 0.75% | 0.75% | 0.75% | 0.75% |
| Farmville | 0.75% | 0.75% | 0.75% | 0.75% | 0.75% |
| New Canton | 0.75% | 0.75% | 0.75% | 0.75% | 0.75% |
| Powhatan | 0.75% | 0.75% | 0.75% | 0.75% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Cumberland County, Virginia
In Cumberland County, 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 Cumberland County 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 Cumberland County 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 Cumberland County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. Notably, Cartersville has the highest median tax bill at $1,148, while Columbia has the lowest at $829.
Property Tax Assessment Values Across Cumberland County, Virginia
Source: Ownwell
$110,500
$132,020
$153,540
Average Cumberland County Assessed Value
$125,850
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cumberland County, Virginia
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Cartersville | $48,312 | $91,245 | $153,540 | $228,515 | $320,840 |
| Columbia | $28,704 | $66,210 | $110,500 | $188,660 | $298,142 |
| Cumberland | $36,820 | $73,830 | $124,300 | $187,880 | $271,520 |
| Dillwyn | $26,085 | $55,108 | $111,945 | $207,455 | $298,145 |
| Farmville | $39,158 | $72,990 | $119,550 | $190,530 | $290,590 |
| New Canton | $30,826 | $60,290 | $133,180 | $252,845 | $331,890 |
| Powhatan | $68,349 | $108,762 | $151,020 | $205,055 | $263,920 |
Source: Ownwell
Property Tax Bills Across Cumberland County, Virginia
In Cumberland County, VA, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the property's market value, reflecting its worth in the current real estate market. Homeowners in this county experience property tax bills that vary significantly, influenced by factors such as location, property size, and market conditions. For instance, the median home price in Cumberland County is $125,850, with tax bills ranging from the 25th percentile at $565 to the 90th percentile at $2,179. The median tax bill in Cartersville, the city with the highest median tax bill, stands at $1,148, while Columbia has the lowest at $829. These variations impact homeowners differently, with some paying significantly higher taxes based on their property's assessed value and location. Understanding these factors helps homeowners anticipate their tax obligations and plan their finances accordingly.
Average Cumberland County Tax Bill
$944
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Cumberland County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Cartersville | $361 | $689 | $1,148 | $1,715 | $2,449 |
| Columbia | $215 | $497 | $829 | $1,415 | $2,253 |
| Cumberland | $276 | $554 | $931 | $1,419 | $2,063 |
| Dillwyn | $196 | $413 | $840 | $1,556 | $2,236 |
| Farmville | $296 | $548 | $897 | $1,455 | $2,230 |
| New Canton | $231 | $452 | $999 | $1,896 | $2,489 |
| Powhatan | $481 | $795 | $1,116 | $1,538 | $1,966 |
Source: Ownwell