Fieldale, Virginia Property Taxes
The median property tax rate in Fieldale, VA is 0.56%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Fieldale at $57,350, the typical annual property tax bill amounts to $318, which is well below the national median of $2,690. Property taxes in Fieldale are calculated based on the assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Fieldale'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 Fieldale or another part of Henry County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Fieldale, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$321
Ownwell’s Fieldale Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Fieldale with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Fieldale 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 Fieldale, Virginia
Property taxes in Fieldale, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fieldale is 0.56%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Fieldale set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fieldale 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 Fieldale's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 24089 has both the highest and lowest median property tax rate of 0.56%. Understanding how these cities compare with Fieldale provides valuable insights into the varying tax landscape across Henry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fieldale Tax Rate
0.56%
Average Henry County Tax Rate
0.56%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fieldale, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24089 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Fieldale, Virginia
In Fieldale, 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 Henry 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 Fieldale, 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. The median home price in Fieldale is $57,350, with annual tax bills ranging from $214 at the 25th percentile to $606 at the 90th percentile. The zip code with the highest and lowest median tax bill is 24089, both at $318. Being aware of these valuation processes in Fieldale helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Fieldale Assessed Value
$57,350
Average Henry County Assessed Value
$71,300
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fieldale, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24089 | $19,250 | $38,625 | $57,350 | $80,900 | $109,100 |
Source: Ownwell
Property Tax Bills Across Fieldale, Virginia
In Fieldale, located in Henry County, VA, property tax bills are calculated based on the assessed value of a home. The median home price in Fieldale stands at $57,350, which serves as a baseline for determining property taxes. The tax bill is influenced by the assessed value, which is typically a percentage of the market value, and the local tax rate set by Henry County. Homeowners in Fieldale can expect their tax bills to vary within a range, with the 25th percentile at $214, the 75th percentile at $449, and the 90th percentile reaching $606. These tax bills directly impact homeowners by contributing to local services such as education, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Fieldale's property tax rates offer an affordable option for homeowners, ensuring that they receive essential services while maintaining manageable tax obligations. The uniformity in the median tax bill, recorded at $318 in the zip code 24089, reflects a consistent approach to property tax assessment in the area.
Average Fieldale Tax Bill
$318
Average Henry County Tax Bill
$396
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Fieldale, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24089 | $107 | $214 | $318 | $449 | $606 |
Source: Ownwell