Baskerville, Virginia Property Taxes
The median property tax rate in Baskerville, VA is 0.40%, significantly lower than both the national median of 0.99% and Virginia's state median of 0.89%. With the median home value in Baskerville, the typical annual property tax bill reaches $411, well below the national median of $2,690. Property taxes in Baskerville 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 Baskerville'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 Baskerville or another part of Mecklenburg County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Baskerville, Virginia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$1,780
Ownwell’s Baskerville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Baskerville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Baskerville 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 Baskerville, Virginia
Property taxes in Baskerville, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Baskerville is 0.40%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Baskerville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Baskerville 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 Baskerville'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 significantly higher, while the lowest median tax rate is much lower. Understanding how these cities compare with Baskerville provides valuable insights into the varying tax landscape across Mecklenburg County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Baskerville Tax Rate
0.40%
Average Mecklenburg County Tax Rate
0.40%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Baskerville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23915 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
Source: Ownwell
Property Tax Assessment Values Across Baskerville, Virginia
In Baskerville, 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 Mecklenburg 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 Baskerville, 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 Baskerville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 23915 has both the highest and lowest median tax bill at $411.
Average Baskerville Assessed Value
$102,700
Average Mecklenburg County Assessed Value
$106,700
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Baskerville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23915 | $26,140 | $53,000 | $102,700 | $168,400 | $257,360 |
Source: Ownwell
Property Tax Bills Across Baskerville, Virginia
In Baskerville, located in Mecklenburg County, VA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Baskerville is $102,700. The assessed value is a crucial factor, as it determines the base amount on which taxes are levied. Homeowners in Baskerville can expect their tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $212, while at the 75th percentile, it rises to $674. Those at the 90th percentile might see tax bills as high as $1,029. These figures highlight the range of property tax burdens that homeowners might face. Compared to the national median property tax rate of 0.99%, Baskerville homeowners experience a relatively moderate tax burden. The highest and lowest median tax bills in the area both stand at $411, indicating a consistent rate across different zip codes. Understanding these factors helps homeowners better anticipate their annual property tax obligations and budget accordingly.
Average Baskerville Tax Bill
$411
Average Mecklenburg County Tax Bill
$427
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Baskerville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23915 | $105 | $212 | $411 | $674 | $1,029 |
Source: Ownwell