South Hill, Virginia Property Taxes
The median property tax rate in South Hill, 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 $113,200 in South Hill, the typical annual property tax bill is $453, well below the national median of $2,690. Property taxes in South Hill are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding South Hill'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 South Hill or another part of the town, 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
0.4%
Estimate Property Tax Bill
$453
$420
Ownwell’s South Hill Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating 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 0.40%, which is 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 Virginia can be found in certain areas, while other regions have much lower rates. Understanding how these cities compare with South Hill 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 South Hill 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 South Hill, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23970 | 0.40% | 0.40% | 0.40% | 0.40% | 0.40% |
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 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 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 with the highest median tax bill is 23970, with a median tax bill of $453.
Average South Hill Assessed Value
$113,200
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 South Hill, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23970 | $33,100 | $61,600 | $113,200 | $177,200 | $248,640 |
Source: Ownwell
Property Tax Bills Across South Hill, Virginia
In South Hill, VA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by local authorities and is a percentage of the market value. For homeowners in South Hill, the median home price is $113,200. Property tax rates in South Hill are influenced by the local tax rate set by Mecklenburg County. Homeowners can expect a wide range in their property tax bills. At the 25th percentile, the tax bill is around $246, while at the 75th percentile, it reaches $709. For those at the 90th percentile, the tax bill can be as high as $995. The highest median tax bill in the area is $453, which is also the lowest, indicating consistent property tax assessments within the zip code 23970. Compared to the national median property tax rate of 0.99%, South Hill's property taxes can be seen as relatively moderate, providing a balanced financial environment for homeowners. This system ensures that property taxes are proportionate to the value of the property, impacting homeowners based on their property's worth.
Average South Hill Tax Bill
$453
Average Mecklenburg County Tax Bill
$427
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 | $132 | $246 | $453 | $709 | $995 |
Source: Ownwell