Kents Store, Virginia Property Taxes
The median property tax rate in Kents Store, VA is 0.40%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $263,400 in Kents Store, the typical annual property tax bill is $1,019, well below the national median of $2,690. Property taxes in Kents Store 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 Kents Store'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 Kents Store or another part of Louisa County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kents Store, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.4%
Estimate Property Tax Bill
$1,054
$978
Ownwell’s Kents Store Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kents Store with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kents Store 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 Kents Store, Virginia
Property taxes in Kents Store, Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kents Store is 0.40%, significantly lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Kents Store set these rates annually, and they can vary across different neighborhoods. Each year, Kents Store 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 Kents Store's effective property tax rate to other counties in Virginia and the national median. For comparison, the 23084 zip code has both the highest and lowest median property tax rate of 0.40%. Understanding how these cities compare with Kents Store provides valuable insights into the varying tax landscape across Louisa County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kents Store Tax Rate
0.40%
Average Louisa County Tax Rate
0.40%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kents Store, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23084 | 0.32% | 0.36% | 0.40% | 0.44% | 0.50% |
Source: Ownwell
Property Tax Assessment Values Across Kents Store, Virginia
In Kents Store, 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 Louisa 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 Kents Store, 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 Kents Store helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median property tax bill in Kents Store is $1,019, with the highest and lowest bills both found in the 23084 zip code.
Average Kents Store Assessed Value
$263,400
Average Louisa County Assessed Value
$299,800
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kents Store, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23084 | $141,700 | $192,600 | $263,400 | $358,300 | $447,600 |
Source: Ownwell
Property Tax Bills Across Kents Store, Virginia
In Kents Store, Louisa County, VA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local government assessors, who evaluate the property's market value. Once the assessed value is established, it is multiplied by the local property tax rate to determine the annual tax bill. Homeowners in Kents Store can expect a median home price of $263,400. For example, tax bills in the 25th percentile are around $671, while those in the 75th percentile are approximately $1266. At the 90th percentile, tax bills can reach up to $1714. The median property tax bill in Louisa County stands at $1019, which is slightly above the national median property tax rate of 0.99%. These property taxes fund essential local services such as schools, emergency services, and infrastructure maintenance. Understanding how property tax bills are calculated helps homeowners budget effectively and anticipate their annual financial obligations.
Average Kents Store Tax Bill
$1,019
Average Louisa County Tax Bill
$1,027
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Kents Store, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23084 | $455 | $671 | $1,019 | $1,266 | $1,714 |
Source: Ownwell