Ewing, Virginia Property Taxes
The median property tax rate in Ewing, VA is 0.62%, notably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Ewing at $60,400, the typical annual property tax bill is $376, significantly below the national median of $2,690. Property taxes in Ewing are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ewing'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 Ewing or another part of Lee County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ewing, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$374
$348
Ownwell’s Ewing Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ewing with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ewing 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 Ewing, Virginia
Property taxes in Ewing, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ewing is 0.62%, which is lower than the U.S. national median of 0.99%. Local government entities within Ewing set these rates annually, and they can vary across different neighborhoods. Each year, Ewing 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 Ewing's effective property tax rate to other areas in Lee County and the national median. For comparison, the 24248 zip code has both the highest and lowest median property tax rate of 0.62%. Understanding how these areas compare with Ewing provides valuable insights into the varying tax landscape across Lee County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ewing Tax Rate
0.62%
Average Lee County Tax Rate
0.62%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ewing, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24248 | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Ewing, Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Ewing, Virginia. 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 local authorities 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 Ewing, 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 Ewing helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Ewing are both $376, with the zip code 24248.
Average Ewing Assessed Value
$60,400
Average Lee County Assessed Value
$50,600
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ewing, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24248 | $14,160 | $33,300 | $60,400 | $90,600 | $130,640 |
Source: Ownwell
Property Tax Bills Across Ewing, Virginia
In Ewing, VA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Ewing is $60,400, and this assessed value is a key factor in determining the tax bill. Homeowners in Ewing can expect their property tax bills to vary significantly. For example, the 25th percentile tax bill is around $214, while the 75th percentile tax bill is about $565. At the higher end, the 90th percentile tax bill reaches approximately $814. These assessed values are then multiplied by the local tax rate to calculate the final tax bill. This system ensures that property taxes are proportionate to the value of the property, providing a fair method of taxation. Compared to the national median property tax rate of 0.99%, Ewing's tax rates reflect a localized approach to property taxation. Homeowners need to be aware of these factors as they directly impact their annual financial obligations and the overall cost of homeownership in Ewing.
Average Ewing Tax Bill
$376
Average Lee County Tax Bill
$316
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Ewing, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24248 | $89 | $214 | $376 | $565 | $814 |
Source: Ownwell