Keswick, Virginia Property Taxes
The median property tax rate in Keswick, VA is 0.84%, which is lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $402,300 in Keswick, the typical annual property tax bill is $3,395, surpassing the national median of $2,690. Property taxes in Keswick 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 Keswick'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 Keswick or another part of Fluvanna County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Keswick, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.84%
Estimate Property Tax Bill
$3,379
$3,136
Ownwell’s Keswick Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Keswick with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Keswick to provide an estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities with ease. For those interested in neighborhood-specific trends, additional localized information is available below. Your property’s assessed value is determined by the county for property tax calculations and considers any applicable exemptions.
Property Tax Rates Across Keswick, Virginia
Property taxes in Keswick, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Keswick is 0.84%, which is lower than the U.S. national median of 0.99%. Local government entities within Keswick set these rates annually, and they can vary significantly across different neighborhoods. Each year, Keswick 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 Keswick's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 22947 has both the highest and lowest median property tax rate of 0.84%. Understanding how these cities compare with Keswick provides valuable insights into the varying tax landscape across Fluvanna County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Keswick Tax Rate
0.84%
Average Fluvanna County Tax Rate
0.84%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Keswick, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22947 | 0.84% | 0.84% | 0.84% | 0.84% | 0.84% |
Source: Ownwell
Property Tax Assessment Values Across Keswick, Virginia
In Keswick, 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 Fluvanna County Assessor 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 Keswick, 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 Keswick helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 22947 has the highest and lowest median tax bill at $3,395.
Average Keswick Assessed Value
$402,300
Average Fluvanna County Assessed Value
$247,650
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Keswick, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22947 | $200,800 | $306,175 | $402,300 | $467,600 | $587,950 |
Source: Ownwell
Property Tax Bills Across Keswick, Virginia
In Keswick, located in Fluvanna County, VA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Keswick face varying tax bills depending on their property's value. For instance, the median home price is $402,300, resulting in differing tax burdens across the spectrum. At the 25th percentile, homeowners can expect a tax bill around $2,584, while those at the 75th percentile might see bills closer to $3,947. For the top 10% of properties, tax bills can reach up to $4,962. The highest and lowest median tax bills in Keswick are both recorded at $3,395, indicating a relatively consistent tax rate across the area. Compared to the national median property tax rate of 0.99%, Keswick's homeowners may experience higher or lower tax burdens depending on their property's assessed value and the specific tax rate applied by Fluvanna County. This variability can significantly impact homeowners' annual expenses.
Average Keswick Tax Bill
$3,395
Average Fluvanna County Tax Bill
$2,092
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Keswick, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22947 | $1,695 | $2,584 | $3,395 | $3,947 | $4,962 |
Source: Ownwell