Vansant, Virginia Property Taxes
The median property tax rate in Vansant, VA is 0.60%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Vansant at $54,400, the typical annual property tax bill is $326, considerably less than the national median of $2,690. Property taxes in Vansant are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Vansant's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Vansant 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
Vansant, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$326
Ownwell’s Vansant Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Vansant with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Vansant 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 Vansant, Virginia
Property taxes in Vansant, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Vansant is 0.60%, which is lower than the U.S. national median of 0.99%. Local government entities within Vansant set these rates annually, and they can vary significantly across different neighborhoods. Each year, Vansant 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 Vansant's effective property tax rate to other counties in Virginia and the national median. For comparison, the 24656 ZIP code has the highest median property tax rate of 0.60%, while the same ZIP code also has the lowest median tax rate of 0.60%. Understanding how these cities compare with Vansant 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 Vansant 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 Vansant, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24656 | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Vansant, Virginia
In Vansant, 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 Vansant, 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 Vansant helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Vansant is $54,400, with the highest median tax bill recorded at $326 in the 24656 zip code.
Average Vansant Assessed Value
$54,400
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 Vansant, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24656 | $27,900 | $41,850 | $54,400 | $60,975 | $64,170 |
Source: Ownwell
Property Tax Bills Across Vansant, Virginia
In Vansant, located in Dickenson County, VA, property tax bills are calculated based on the assessed value of a home. The local government assesses properties to determine their taxable value, which is then multiplied by the local tax rate to calculate the annual tax bill. Factors such as the home's market value, location, and property type are considered during the assessment process. For homeowners in Vansant, the median home price stands at $54,400. Property tax bills vary, with the 25th percentile at $251 and the 75th percentile at $366. At the 90th percentile, tax bills can reach up to $385. The highest and lowest median tax bills in the area are both $326, specifically in the 24656 zip code. These property tax bills can significantly impact homeowners by contributing to their annual housing costs. Compared to the national median property tax rate of 0.99%, Vansant's property tax rates can provide a more affordable option for residents, potentially making homeownership more accessible.
Average Vansant Tax Bill
$326
Average Dickenson County Tax Bill
$312
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Vansant, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24656 | $167 | $251 | $326 | $366 | $385 |
Source: Ownwell