Heathsville, Virginia Property Taxes
The median property tax rate in Heathsville, VA is 0.63%, which is significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Heathsville at $79,150, the typical annual property tax bill amounts to $478, well below the national median of $2,690. Property taxes in Heathsville are calculated based on the tax assessed value, typically lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Heathsville'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 Heathsville or another part of the county, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Heathsville, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$499
Ownwell’s Heathsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Heathsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Heathsville 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 Heathsville, Virginia
Property taxes in Heathsville, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Heathsville is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Heathsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Heathsville 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 Heathsville's effective property tax rate to other areas in Virginia and the national median. For comparison, the zip code 22473 has both the highest and lowest median property tax rate in the region at 0.63%. Understanding how these areas compare with Heathsville provides valuable insights into the varying tax landscape across Lancaster County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Heathsville Tax Rate
0.63%
Average Lancaster County Tax Rate
0.63%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Heathsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22473 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Heathsville, Virginia
In Heathsville, 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 local 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 Heathsville, 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 Heathsville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, in zip code 22473, the median tax bill is $478.
Average Heathsville Assessed Value
$79,150
Average Lancaster County Assessed Value
$195,250
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Heathsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22473 | $13,100 | $26,675 | $79,150 | $132,400 | $216,220 |
Source: Ownwell
Property Tax Bills Across Heathsville, Virginia
In Heathsville, VA, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county's assessor, who evaluates the property's market value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. For instance, with a median home price of $79,150, homeowners can expect their tax bills to vary significantly. The 25th percentile tax bill is around $137, while the 75th percentile reaches $823. At the higher end, the 90th percentile tax bill can be as much as $1,362. This range highlights the variability in tax burdens depending on property values and specific assessments. Compared to the national median property tax rate of 0.99%, the tax bills in Heathsville can be relatively moderate, but they still represent a significant expense for homeowners. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Heathsville Tax Bill
$478
Average Lancaster County Tax Bill
$1,042
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Heathsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22473 | $78 | $137 | $478 | $823 | $1,362 |
Source: Ownwell