Goldbond, Virginia Property Taxes
The median property tax rate in Goldbond, VA is 0.68%, 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 Goldbond being $60,850, the typical annual property tax bill amounts to $396, well below the national median of $2,690. Property taxes in Goldbond are determined based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Goldbond'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 Goldbond 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
Goldbond, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$414
$384
Ownwell’s Goldbond Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Goldbond with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Goldbond 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 Goldbond, Virginia
Property taxes in Goldbond, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Goldbond is 0.68%, lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Goldbond set these rates annually, and they can vary significantly across different neighborhoods. Each year, Goldbond 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 Goldbond's effective property tax rate to other counties in Virginia and the national median. For comparison, the 24150 zip code has both the highest and lowest median property tax rate of 0.68%. Understanding how these cities compare with Goldbond provides valuable insights into the varying tax landscape across Giles County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Goldbond Tax Rate
0.68%
Average Giles County Tax Rate
0.68%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Goldbond, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24150 | 0.66% | 0.68% | 0.68% | 0.68% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Goldbond, Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Goldbond, VA. 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 Giles 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 Goldbond, 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. For instance, the median home price in Goldbond is $60,850, with tax bills ranging from $242 at the 25th percentile to $785 at the 90th percentile. The zip code 24150 has the highest and lowest median tax bill at $396. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Goldbond Assessed Value
$60,850
Average Giles County Assessed Value
$99,900
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Goldbond, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24150 | $20,430 | $35,925 | $60,850 | $90,625 | $116,630 |
Source: Ownwell
Property Tax Bills Across Goldbond, Virginia
Property tax bills in Goldbond, Giles County, VA, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the market value, which is determined by the county assessor. Homeowners in Goldbond can expect their tax bills to vary based on the assessed value of their property and the prevailing tax rate. For example, with a median home price of $60,850, the property tax bill can range significantly. At the 25th percentile, homeowners might pay around $242, while those at the 75th percentile could see bills as high as $603. The 90th percentile tax bill reaches up to $785. These variations highlight how different factors, such as property size, location, and improvements, influence the final tax amount. Compared to the national median property tax rate of 0.99%, Goldbond's property taxes offer a relatively affordable option for homeowners, providing a manageable financial obligation while still supporting essential community services.
Average Goldbond Tax Bill
$396
Average Giles County Tax Bill
$654
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Goldbond, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24150 | $129 | $242 | $396 | $603 | $785 |
Source: Ownwell