Danville County, Virginia Property Taxes
The median property tax rate in Danville is 0.84%, 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 Danville, the typical annual property tax bill is $533, significantly less than the national median of $2,690. Property taxes in Danville are calculated based on the assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Danville's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in the city of Danville 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
Danville County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$533
$495
Ownwell’s Danville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Danville with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Danville 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 Danville County, Virginia
Property taxes in Danville play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Danville is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Danville set these rates annually, and they can vary significantly between different areas within the county. Each year, Danville 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 Danville's effective property tax rate with other counties in Virginia and the national median. For comparison, the city of Danville has one of the higher property tax rates in Virginia at 0.84%. Analyzing how Danville's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Danville County Tax Rate
0.84%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Assessment Values Across Danville County, Virginia
In Danville, 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 Danville 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 Danville 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 Danville will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. The median home price in Danville is $63,500, with the annual tax bill ranging from $246 at the 25th percentile to $1,323 at the 90th percentile.
Average Danville County Assessed Value
$63,500
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Bills Across Danville County, Virginia
In Danville, VA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Factors such as property location, size, and market conditions influence the assessed value. For homeowners in Danville, the median home price is $63,500. The tax bill can vary significantly, with the 25th percentile at $246 and the 75th percentile at $848, reflecting differences in property values and exemptions. At the 90th percentile, the tax bill reaches $1,323, indicating the upper range of property taxes in the area. Comparatively, Danville's median tax bill stands at $533, which is lower than the national median property tax rate of 0.99%. This relatively lower tax burden can make homeownership more affordable, but it also means less revenue for local services funded by property taxes. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Danville County Tax Bill
$533
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690