Saint Stephens Church, Virginia Property Taxes
The median property tax rate in Saint Stephens Church, VA is 0.73%, which is notably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value in Saint Stephens Church of $129,276, the typical annual property tax bill amounts to $944, falling well below the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Saint Stephens Church'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 Saint Stephens Church or another part of Essex County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Saint Stephens Church, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$944
$876
Ownwell’s Saint Stephens Church Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saint Stephens Church with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saint Stephens Church 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 Saint Stephens Church, Virginia
Property taxes in Saint Stephens Church, Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saint Stephens Church is 0.73%, which is lower than the U.S. national median of 0.99%. Local government entities within Saint Stephens Church set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saint Stephens Church 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 Saint Stephens Church's effective property tax rate to other areas in Virginia and the national median. For comparison, the zip code 23148 has the same median property tax rate of 0.73%. Understanding how these areas compare with Saint Stephens Church provides valuable insights into the varying tax landscape across Essex County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Saint Stephens Church Tax Rate
0.73%
Average Essex County Tax Rate
0.73%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Saint Stephens Church, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23148 | 0.73% | 0.73% | 0.73% | 0.73% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Saint Stephens Church, Virginia
In Saint Stephens Church, 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 local 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 Saint Stephens Church, 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 Saint Stephens Church helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 23148, with a median tax bill of $944.
Property Tax Assessment Values Across Saint Stephens Church, Virginia
Source: Ownwell
$62,430
$136,970
$211,509
Average Saint Stephens Church Assessed Value
$129,276
Average Essex County Assessed Value
$164,800
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Saint Stephens Church, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23148 | $54,170 | $83,834 | $129,276 | $189,062 | $280,614 |
Source: Ownwell
Property Tax Bills Across Saint Stephens Church, Virginia
In Saint Stephens Church, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in this area is $129,276. Property taxes are then levied as a percentage of this assessed value. The median property tax bill in Saint Stephens Church is $944, aligning with the rate in Essex County. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For instance, tax bills can vary significantly, with the 25th percentile paying $612 and the 75th percentile paying $1,380. At the 90th percentile, homeowners might see tax bills as high as $1,832. These taxes fund essential public services such as schools, emergency services, and infrastructure. Homeowners in Saint Stephens Church should be aware of these assessments, as they directly impact annual expenses and the overall cost of homeownership. Understanding property tax calculations can help in budgeting and financial planning.
Average Saint Stephens Church Tax Bill
$944
Average Essex County Tax Bill
$1,202
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Saint Stephens Church, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23148 | $395 | $612 | $944 | $1,380 | $1,832 |
Source: Ownwell