Pearisburg, Giles County, Virginia Property Taxes
The median property tax rate in Pearisburg, VA is 0.68%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Pearisburg at $109,900, the typical annual property tax bill amounts to $709, which is well below the national median of $2,690. Property taxes in Pearisburg 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 Pearisburg'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 Pearisburg or another part of Giles County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pearisburg, Giles County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$747
$693
Ownwell’s Pearisburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pearisburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pearisburg 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 Pearisburg, Giles County, Virginia
Property taxes in Pearisburg, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pearisburg is 0.68%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Pearisburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pearisburg 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 Pearisburg's effective property tax rate to other counties in Virginia and the national median. For comparison, the 24134 zip code has the highest median property tax rate of 0.68%, while the same zip code also has the lowest median tax rate of 0.68%. Understanding how these cities compare with Pearisburg 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 Pearisburg 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 Pearisburg, Giles County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24134 | 0.62% | 0.68% | 0.68% | 0.68% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Pearisburg, Giles County, Virginia
In Pearisburg, 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 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. Assessment notices in Pearisburg 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 Pearisburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Pearisburg is $109,900, with the highest and lowest median tax bills both being $709 in the 24134 zip code.
Property Tax Assessment Values Across Pearisburg, Giles County, Virginia
Source: Ownwell
$60,850
$113,325
$165,800
Average Pearisburg Assessed Value
$109,900
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 Pearisburg, Giles County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24134 | $46,240 | $71,500 | $109,900 | $161,850 | $239,420 |
Source: Ownwell
Property Tax Bills Across Pearisburg, Giles County, Virginia
In Pearisburg, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the Giles County assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. The median home price in Pearisburg is $109,900, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $465, while the 75th percentile is $1,044, and the 90th percentile reaches $1,464. These figures indicate that homeowners in Pearisburg experience a range of property tax obligations, influenced by the assessed value of their properties and the local tax rate. Compared to the national median property tax rate of 0.99%, Pearisburg's tax bills reflect the local economic factors and property values. Homeowners need to be aware of these variations, as they can impact their overall housing costs and financial planning.
Average Pearisburg Tax Bill
$709
Average Giles County Tax Bill
$654
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Pearisburg, Giles County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24134 | $270 | $465 | $709 | $1,044 | $1,464 |
Source: Ownwell