South Hill, Virginia Property Taxes
The median property tax rate in South Hill, VA is 0.38%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in South Hill at $101,900, the typical annual property tax bill is $388, far below the national median of $2,690. Property taxes in South Hill 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 South Hill'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 South Hill 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
South Hill, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.38%
Estimate Property Tax Bill
$387
$359
Ownwell’s SOUTH HILL Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in SOUTH HILL with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in SOUTH HILL 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 South Hill, Virginia
Property taxes in South Hill, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in South Hill is 0.38%, which is significantly lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within South Hill set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Hill 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 South Hill's effective property tax rate to other counties in Virginia and the national median. For comparison, the highest median property tax rate in the region is 1.12%, while the lowest median tax rate is 0.24%. Understanding how these cities compare with South Hill provides valuable insights into the varying tax landscape across Lunenburg County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average South Hill Tax Rate
0.38%
Average Lunenburg County Tax Rate
0.38%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across South Hill, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23970 | 0.38% | 0.38% | 0.38% | 0.38% | 0.38% |
Source: Ownwell
Property Tax Assessment Values Across South Hill, Virginia
In South Hill, 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 Lunenburg 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 South Hill, 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 South Hill helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 23970 has both the highest and lowest median tax bill at $388, highlighting the uniformity in tax assessments within the area.
Average South Hill Assessed Value
$101,900
Average Lunenburg County Assessed Value
$83,400
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across South Hill, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23970 | $19,360 | $51,700 | $101,900 | $177,200 | $267,940 |
Source: Ownwell
Property Tax Bills Across South Hill, Virginia
In South Hill, VA, property tax bills are calculated based on the assessed value of your home. The local tax rate is applied to this assessed value to determine the annual tax bill. For instance, with a median home price of $101,900, homeowners can expect varying tax bills depending on their property's assessed value and specific characteristics. Factors such as property size, location, and improvements can influence the assessed value, thereby affecting the tax bill. The tax bill in South Hill can range significantly. At the 25th percentile, homeowners might see a tax bill around $206, while at the 75th percentile, it could rise to approximately $681. For those at the 90th percentile, the tax bill may reach up to $1,019. Comparatively, the highest and lowest median tax bills in the area both stand at $388, reflecting the uniformity in assessed values within certain zip codes. Understanding these factors helps homeowners anticipate their annual financial obligations and plan accordingly.
Average South Hill Tax Bill
$388
Average Lunenburg County Tax Bill
$320
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across South Hill, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23970 | $81 | $206 | $388 | $681 | $1,019 |
Source: Ownwell