Moon, Virginia Property Taxes
The median property tax rate in Moon, VA is 0.56%, considerably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Moon at $281,150, the typical annual property tax bill reaches $1,574, falling below the national median of $2,690. Property taxes in Moon 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 Moon'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 Moon 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
Moon, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$1,574
$1,461
Ownwell’s MOON Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MOON with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MOON 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 Moon, Virginia
Property taxes in Moon, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Moon is 0.56%, lower than both the Virginia state median of 0.80% and the U.S. national median of 0.99%. Local government entities within Moon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Moon 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 Moon's effective property tax rate to other counties in Virginia and the national median. For comparison, the 23119 zip code has the highest median property tax rate of 0.56%, while the 23119 zip code also has the lowest median tax rate of 0.56%. Understanding how these cities compare with Moon provides valuable insights into the varying tax landscape across Mathews County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Moon Tax Rate
0.56%
Average Mathews County Tax Rate
0.56%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Moon, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23119 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Moon, Virginia
In MOON, 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 Mathews 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 MOON, 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 MOON helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1574.00 in the 23119 zip code, while the lowest median tax bill is also $1574.00 in the same zip code.
Average Moon Assessed Value
$281,150
Average Mathews County Assessed Value
$237,900
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Moon, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23119 | $86,070 | $192,300 | $281,150 | $461,550 | $645,420 |
Source: Ownwell
Property Tax Bills Across Moon, Virginia
In Moon, Mathews County, VA, property tax bills are calculated based on the assessed value of a property, which is determined by local tax assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Moon is $281,150, and the tax rate is applied to this value to calculate the tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Moon can expect property tax bills to vary significantly. For instance, the 25th percentile tax bill is $1,077, while the 75th percentile reaches $2,585. At the higher end, the 90th percentile tax bill is $3,614. The highest and lowest median tax bills in Mathews County are both recorded at $1,574 in the 23119 zip code. These variations highlight how individual property characteristics and assessments can impact the financial burden on homeowners, making it essential for property owners to understand their assessments and potential tax liabilities.
Average Moon Tax Bill
$1,574
Average Mathews County Tax Bill
$1,332
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Moon, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23119 | $482 | $1,077 | $1,574 | $2,585 | $3,614 |
Source: Ownwell