Sutherlin, Virginia Property Taxes
The median property tax rate in Sutherlin, VA is 0.50%, which is significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $98,753 in Sutherlin, the typical annual property tax bill is around $494, far below the national median of $2,690. Property taxes in Sutherlin are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Sutherlin'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 Sutherlin or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sutherlin, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.5%
Estimate Property Tax Bill
$494
$458
Ownwell’s Sutherlin Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sutherlin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sutherlin 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 Sutherlin, Virginia
Property taxes in Sutherlin, Virginia, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Sutherlin stands at 0.50%, which is significantly lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Sutherlin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sutherlin 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 Sutherlin's effective property tax rate to other counties in Virginia and the national median. For comparison, the 24594 zip code has both the highest and lowest median property tax rates in the region, each standing at 0.50%. Understanding how these areas compare with Sutherlin 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 Sutherlin 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 Sutherlin, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24594 | 0.50% | 0.50% | 0.50% | 0.50% | 0.50% |
Source: Ownwell
Property Tax Assessment Values Across Sutherlin, Virginia
In Sutherlin, 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 local 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 Sutherlin, 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 Sutherlin helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in the area are both $494.00, found in the 24594 zip code.
Average Sutherlin Assessed Value
$98,753
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 Sutherlin, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24594 | $27,664 | $67,763 | $98,753 | $135,484 | $193,432 |
Source: Ownwell
Property Tax Bills Across Sutherlin, Virginia
In Sutherlin, Halifax County, VA, property tax bills are calculated based on the assessed value of a home, which reflects its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Factors such as property size, location, and market conditions influence the assessed value. For instance, the median home price in Sutherlin is $98,753, and the resulting tax bills can vary significantly. Homeowners in Sutherlin experience a range of property tax bills. For those at the 25th percentile, the tax bill is around $339, while those at the 75th percentile pay approximately $677. The 90th percentile sees tax bills as high as $967. These variations highlight the impact of property value assessments on tax obligations. Compared to the national median property tax rate of 0.99%, Sutherlin's tax rates can be considered relatively moderate, providing some financial relief to homeowners while still contributing to local services and infrastructure.
Average Sutherlin Tax Bill
$494
Average Halifax County Tax Bill
$413
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Sutherlin, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24594 | $138 | $339 | $494 | $677 | $967 |
Source: Ownwell