Barhamsville, Virginia Property Taxes
The median property tax rate in Barhamsville, VA is 0.61%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $279,300 in Barhamsville, the typical annual property tax bill amounts to $1,709, well below the national median of $2,690. Property taxes in Barhamsville are calculated based on the assessed value, which is often less than the market value due to exemptions like those for primary residences and agricultural properties. Understanding Barhamsville'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 Barhamsville or another part of James City County, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Barhamsville, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$1,704
Ownwell’s Barhamsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Barhamsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Barhamsville 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 Barhamsville, Virginia
Property taxes in Barhamsville, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Barhamsville is 0.61%, which is lower than the U.S. national median of 0.99%. Local government entities within Barhamsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Barhamsville 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 Barhamsville's effective property tax rate to other counties in Virginia and the national median. For comparison, the 23011 zip code has the highest median property tax rate of 0.61%, while the same zip code also has the lowest median tax rate of 0.61%. Understanding how these areas compare with Barhamsville provides valuable insights into the varying tax landscape across James City County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Barhamsville Tax Rate
0.61%
Average James City County Tax Rate
0.83%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Barhamsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23011 | 0.61% | 0.61% | 0.61% | 0.61% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Barhamsville, Virginia
In Barhamsville, 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 James City 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 Barhamsville, 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 Barhamsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 23011 has a median tax bill of $1,709, which is the highest and lowest in the area.
Average Barhamsville Assessed Value
$279,300
Average James City County Assessed Value
$333,650
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Barhamsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23011 | $279,300 | $279,300 | $279,300 | $279,300 | $279,300 |
Source: Ownwell
Property Tax Bills Across Barhamsville, Virginia
In Barhamsville, located in James City County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in this area is $279,300, and the property tax rate is applied to this assessed value to determine the annual tax bill. For homeowners in Barhamsville, the median property tax bill is $1,709, which is significantly lower than the national median property tax rate of 0.99%. Factors that contribute to the tax bill include the home's assessed value, local tax rates, and any applicable exemptions or deductions. This relatively low tax burden can make Barhamsville an attractive place for homeowners, as it allows them to allocate more of their budget toward other expenses or investments. The consistency in tax bills, with the 25th, 75th, and 90th percentiles all at $1,709, indicates a stable and predictable tax environment for residents.
Average Barhamsville Tax Bill
$1,709
Average James City County Tax Bill
$2,739
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Barhamsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23011 | $1,709 | $1,709 | $1,709 | $1,709 | $1,709 |
Source: Ownwell