Bruington, King And Queen County, Virginia Property Taxes
The median property tax rate in Bruington, VA is 0.55%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Bruington at $150,800, the typical annual property tax bill amounts to $829, well below the national median of $2,690. Property taxes in Bruington are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Bruington'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 Bruington 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
Bruington, King And Queen County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$829
$770
Ownwell’s Bruington Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Bruington with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bruington to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available further down the page. Your property’s assessed value is determined by the county for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Bruington, King And Queen County, Virginia
Property taxes in Bruington, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bruington is 0.55%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Bruington set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bruington 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 Bruington's effective property tax rate to other counties in Virginia and the national median. For comparison, the 23023 zip code has the highest median property tax rate of 0.55%, while the same zip code also has the lowest median tax rate of 0.55%. Understanding how these cities compare with Bruington provides valuable insights into the varying tax landscape across King and Queen County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bruington Tax Rate
0.55%
Average King And Queen County Tax Rate
0.55%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bruington, King And Queen County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23023 | 0.55% | 0.55% | 0.55% | 0.55% | 0.55% |
Source: Ownwell
Property Tax Assessment Values Across Bruington, King And Queen County, Virginia
In Bruington, 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 King and Queen 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 Bruington, 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. The median home price in Bruington is $150,800, with tax bills ranging from $545 at the 25th percentile to $2,105 at the 90th percentile. The highest and lowest median tax bills both occur in the 23023 zip code, each being $829. 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 Bruington helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Bruington, King And Queen County, Virginia
Source: Ownwell
$119,400
$148,450
$177,500
Average Bruington Assessed Value
$150,800
Average King And Queen County Assessed Value
$136,200
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bruington, King And Queen County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23023 | $74,240 | $99,150 | $150,800 | $237,850 | $382,660 |
Source: Ownwell
Property Tax Bills Across Bruington, King And Queen County, Virginia
In Bruington, property tax bills are determined by assessing the value of a homeowner's property and applying the local tax rate. The assessed value is based on various factors, including the property's market value, location, and any improvements made. For instance, with a median home price of $150,800 in Bruington, homeowners can expect their tax bills to vary significantly. Tax bills in Bruington range from around $545 at the 25th percentile to $2,105 at the 90th percentile, reflecting the diversity in property values and tax assessments. The median property tax bill in the area is notably lower than the national median property tax rate of 0.99%, indicating a relatively moderate tax burden for homeowners. Homeowners in Bruington's 23023 zip code face a median tax bill of $829, showcasing consistency across the region. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Bruington Tax Bill
$829
Average King And Queen County Tax Bill
$749
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Bruington, King And Queen County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23023 | $408 | $545 | $829 | $1,308 | $2,105 |
Source: Ownwell