Clover, Virginia Property Taxes
The median property tax rate in Clover, VA is 0.50%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Clover at $81,110, the typical annual property tax bill amounts to $406, which is well below the national median of $2,690. Property taxes in Clover are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Clover'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 Clover or another part of Halifax County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Clover, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$406
$376
Ownwell’s Clover Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Clover with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Clover 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 Clover, Virginia
Property taxes in Clover, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Clover is 0.50%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Clover set these rates annually, and they can vary significantly across different neighborhoods. Each year, Clover 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 Clover's effective property tax rate to other counties in Virginia and the national median. For comparison, the 24534 zip code has both the highest and lowest median property tax rate of 0.50%. Understanding how these cities compare with Clover provides valuable insights into the varying tax landscape across Halifax County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Clover Tax Rate
0.50%
Average Halifax County Tax Rate
0.50%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Clover, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24534 | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% |
Source: Ownwell
Property Tax Assessment Values Across Clover, Virginia
In Clover, 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 Halifax 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 Clover, 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 Clover helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills are both recorded at $406.00 in the 24534 zip code.
Average Clover Assessed Value
$81,110
Average Halifax County Assessed Value
$82,550
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Clover, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24534 | $16,450 | $47,292 | $81,110 | $113,485 | $154,885 |
Source: Ownwell
Property Tax Bills Across Clover, Virginia
In Clover, Halifax County, VA, property tax bills are calculated by multiplying the assessed value of a property by the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in Clover can expect their tax bills to vary significantly based on their property's assessed value and the local tax rate. For instance, the median home price in Clover is $81,110. Tax bills typically range from $236 at the 25th percentile to $567 at the 75th percentile, with the 90th percentile reaching up to $774. This variability highlights how different factors such as property size, location, and market conditions can impact the assessed value, and consequently, the tax bill. Compared to the national median property tax rate of 0.99%, Clover's property taxes can be seen as relatively moderate, providing some relief to homeowners. Understanding these factors can help residents anticipate and manage their property tax responsibilities effectively.
Average Clover Tax Bill
$406
Average Halifax County Tax Bill
$413
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Clover, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24534 | $82 | $236 | $406 | $567 | $774 |
Source: Ownwell