Jonesville, Virginia Property Taxes
The median property tax rate in Jonesville, VA is 0.62%, considerably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Jonesville, the typical annual property tax bill reaches $361, significantly less than the national median of $2,690. Property taxes in Jonesville are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Jonesville'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 Jonesville 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
Jonesville, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$360
$334
Ownwell’s Jonesville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Jonesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jonesville 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 Jonesville, Virginia
Property taxes in Jonesville, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jonesville is 0.62%, which is lower than the U.S. national median of 0.99%. Local government entities within Jonesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jonesville 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 Jonesville's effective property tax rate to other areas in Virginia and the national median. For comparison, the 24263 zip code has the highest median property tax rate of 0.62%, while the same zip code also has the lowest median tax rate of 0.62%. Understanding how these areas compare with Jonesville 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 Jonesville 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 Jonesville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24263 | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Jonesville, Virginia
In Jonesville, 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 Lee 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 Jonesville, 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 Jonesville is $58,100, with tax bills ranging from $200 at the 25th percentile to $810 at the 90th percentile. 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 Jonesville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Jonesville Assessed Value
$58,100
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 Jonesville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24263 | $13,750 | $32,300 | $58,100 | $88,275 | $129,450 |
Source: Ownwell
Property Tax Bills Across Jonesville, Virginia
In Jonesville, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to calculate the annual tax bill. For homeowners in Jonesville, the median home price is $58,100. Property tax bills can vary significantly; for example, the 25th percentile tax bill is $200, while the 75th percentile tax bill reaches $548, and the 90th percentile tax bill can be as high as $810. Several factors influence the final tax bill, including the assessed value of the property, any applicable exemptions, and the local tax rate. The median property tax bill in Jonesville is $361, which is significantly lower than the national median property tax rate of 0.99%. This relatively low tax burden can be advantageous for homeowners, making Jonesville an affordable place to live while still contributing to essential public services such as schools, infrastructure, and emergency services.
Average Jonesville Tax Bill
$361
Average Lee County Tax Bill
$316
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Jonesville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24263 | $86 | $200 | $361 | $548 | $810 |
Source: Ownwell