Stanleytown, Virginia Property Taxes
The median property tax rate in Stanleytown, 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 Stanleytown at $60,100, the typical annual property tax bill amounts to $334, which is much less than the national median of $2,690. Property taxes in Stanleytown are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Stanleytown'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 Stanleytown or another part of Henry County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Stanleytown, Virginia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$1,780
Ownwell’s Stanleytown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Stanleytown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Stanleytown 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 Stanleytown, Virginia
Property taxes in Stanleytown, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Stanleytown is 0.56%, lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Stanleytown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Stanleytown 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 Stanleytown's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 24168 has the highest median property tax rate of 0.56%, while the same zip code also has the lowest median tax rate of 0.56%. Understanding how these cities compare with Stanleytown 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 Stanleytown 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 Stanleytown, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24168 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Stanleytown, Virginia
In Stanleytown, 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. 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 Stanleytown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 24168, with a median tax bill of $334.
Average Stanleytown Assessed Value
$60,100
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 Stanleytown, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24168 | $20,870 | $32,975 | $60,100 | $193,325 | $281,790 |
Source: Ownwell
Property Tax Bills Across Stanleytown, Virginia
In Stanleytown, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. Homeowners in Stanleytown can expect their tax bills to vary significantly, with the median home price at $60,100. The tax bill at the 25th percentile is $183, while at the 75th percentile, it rises to $1,073. For those at the 90th percentile, the tax bill can reach as high as $1,564. These variations are influenced by several factors, including property size, location, and any improvements made to the home. The highest median tax bill in Stanleytown is $334, which is notably lower than the national median property tax rate of 0.99%. This relatively low tax burden can make homeownership more affordable for residents, but it also means that local government services might be funded differently compared to areas with higher property taxes. Understanding these factors can help homeowners anticipate their annual property tax obligations and plan their finances accordingly.
Average Stanleytown Tax Bill
$334
Average Henry County Tax Bill
$396
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Stanleytown, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24168 | $116 | $183 | $334 | $1,073 | $1,564 |
Source: Ownwell