Coeburn, Virginia Property Taxes
The median property tax rate in Coeburn, VA is 0.60%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $55,900 in Coeburn, the typical annual property tax bill amounts to $335, which is well below the national median of $2,690. Property taxes in Coeburn are calculated based on the assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Coeburn'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 Coeburn or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Coeburn, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$335
$311
Ownwell’s Coeburn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Coeburn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Coeburn 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 Coeburn, Virginia
Property taxes in Coeburn, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Coeburn is 0.60%, which is lower than the U.S. national median of 0.99%. Local government entities within Coeburn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coeburn 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 Coeburn's effective property tax rate to other areas in Virginia and the national median. For comparison, the 24230 zip code has a median property tax rate of 0.60%, which is the same as the rate in Coeburn. Understanding how these cities compare with Coeburn provides valuable insights into the varying tax landscape across Dickenson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Coeburn Tax Rate
0.60%
Average Dickenson County Tax Rate
0.60%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Coeburn, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24230 | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Coeburn, Virginia
In Coeburn, Virginia, understanding the difference between "market value" and "assessed value" is crucial 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 Dickenson 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. In Coeburn, 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 Coeburn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Coeburn are both $335, found in the zip code 24230.
Average Coeburn Assessed Value
$55,900
Average Dickenson County Assessed Value
$51,100
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Coeburn, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24230 | $13,240 | $31,300 | $55,900 | $80,500 | $119,060 |
Source: Ownwell
Property Tax Bills Across Coeburn, Virginia
In Coeburn, Dickenson County, VA, property tax bills are calculated based on the assessed value of a home. The median home price in Coeburn is $55,900, which serves as a benchmark for calculating property taxes. Tax bills are determined by applying the local tax rate to the assessed value of the property. For homeowners in Coeburn, the 25th percentile tax bill stands at $188, while the 75th percentile tax bill reaches $483. The 90th percentile tax bill can go as high as $714, indicating a range of tax liabilities based on property values. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. These taxes directly impact homeowners by contributing to the overall cost of owning a home, affecting monthly budgets and long-term financial planning. Compared to the national median property tax rate of 0.99%, Coeburn's property tax rates offer a relatively affordable option for homeowners, making it an attractive place for those seeking lower property tax burdens.
Average Coeburn Tax Bill
$335
Average Dickenson County Tax Bill
$312
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Coeburn, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24230 | $79 | $188 | $335 | $483 | $714 |
Source: Ownwell