Check, Virginia Property Taxes
The median property tax rate in CHECK, VA is 0.65%, which is significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in CHECK, the typical annual property tax bill amounts to $798, well below the national median of $2,690. Property taxes in CHECK are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding CHECK'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 CHECK or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Check, Virginia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$1,780
Ownwell’s CHECK Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in CHECK with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in CHECK 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 Check, Virginia
Property taxes in Check, Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Check is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within Check set these rates annually, and they can vary significantly across different neighborhoods. Each year, Check 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 Check's effective property tax rate to other areas and the national median. For comparison, the zip code 24072 has both the highest and lowest median property tax rate of 0.65%. Understanding how these areas compare with Check provides valuable insights into the varying tax landscape across Floyd County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Check Tax Rate
0.65%
Average Floyd County Tax Rate
0.65%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Check, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24072 | 0.65% | 0.65% | 0.65% | 0.65% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Check, Virginia
In CHECK, 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 Floyd 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 CHECK, 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. The highest median tax bill in Floyd County is $798 in zip code 24072, which contrasts with the national median property tax rate of 0.99%. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Check Assessed Value
$128,100
Average Floyd County Assessed Value
$126,500
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Check, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24072 | $37,340 | $78,150 | $128,100 | $188,600 | $262,300 |
Source: Ownwell
Property Tax Bills Across Check, Virginia
In CHECK, property tax bills are calculated based on the assessed value of a home, which is distinct from its market value. The assessed value is determined by local assessors and is used as the basis for calculating the property tax bill. Homeowners in Floyd County can expect to pay varying amounts in property taxes, influenced by factors such as the assessed value of their property and the specific tax rate applied by the local government. For instance, the median home price in CHECK is $128,100. Property tax bills in the area can range widely, with the 25th percentile at $478 and the 75th percentile at $1,215. At the higher end, the 90th percentile tax bill reaches $1,689. The highest and lowest median tax bills in the region are both $798, occurring in the zip code 24072. These property taxes contribute to essential local services such as schools, infrastructure, and emergency services. Understanding these factors helps homeowners anticipate their tax obligations and plan their finances accordingly.
Average Check Tax Bill
$798
Average Floyd County Tax Bill
$805
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Check, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24072 | $213 | $478 | $798 | $1,215 | $1,689 |
Source: Ownwell