Ashland, Virginia Property Taxes
The median property tax rate in Ashland, VA is 0.81%, which is lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Ashland at $304,550, the typical annual property tax bill is $2,489, falling below the national median of $2,690. Property taxes in Ashland 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 Ashland'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 Ashland 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
Ashland, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$2,467
Ownwell’s Ashland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ashland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ashland 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 Ashland, Virginia
Property taxes in Ashland, Virginia, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Ashland is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Ashland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ashland 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 Ashland's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 23005 has the highest median property tax rate of 0.81%, while the same zip code also has the lowest median tax rate of 0.81%. Understanding how these cities compare with Ashland provides valuable insights into the varying tax landscape across Hanover County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ashland Tax Rate
0.81%
Average Hanover County Tax Rate
0.81%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ashland, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23005 | 0.81% | 0.81% | 0.81% | 0.81% | 0.81% |
| 23059 | 0.81% | 0.81% | 0.81% | 0.81% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Ashland, Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Ashland, 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 Hanover 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 Ashland, 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 Ashland helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the highest median tax bill in the area is $2,489 in zip code 23005, while the lowest is $1,413 in zip code 23059.
Average Ashland Assessed Value
$304,550
Average Hanover County Assessed Value
$334,500
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ashland, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23005 | $86,860 | $205,900 | $304,600 | $464,300 | $618,900 |
| 23059 | $174,400 | $174,400 | $174,400 | $174,400 | $174,400 |
Source: Ownwell
Property Tax Bills Across Ashland, Virginia
In Ashland, VA, property tax bills are calculated based on the assessed value of the property, which is determined by the Hanover County Assessor's Office. The assessed value is a percentage of the property's market value, and this figure is then multiplied by the local tax rate to determine the annual tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Ashland can expect varying tax bills. For example, the 25th percentile tax bill is approximately $1,712, while the 75th percentile reaches around $3,789. At the 90th percentile, the tax bill can be as high as $5,022. The highest median tax bill in the area is $2,489 in the 23005 zip code, whereas the lowest is $1,413 in the 23059 zip code. Compared to the national median property tax rate of 0.99%, Ashland's tax rates reflect the unique economic conditions and property values within the region, ultimately impacting how much homeowners pay annually.
Average Ashland Tax Bill
$2,489
Average Hanover County Tax Bill
$2,727
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Ashland, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23005 | $775 | $1,712 | $2,489 | $3,790 | $5,022 |
| 23059 | $1,413 | $1,413 | $1,413 | $1,413 | $1,413 |
Source: Ownwell