Deltaville, Virginia Property Taxes
The median property tax rate in Deltaville, VA is 0.61%, which is significantly lower than both the national median of 0.99% and Virginia's state median of 0.89%. With a median home value in Deltaville of $314,800, the typical annual property tax bill is $1,907, well below the national median of $2,690. Property taxes in Deltaville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Deltaville'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 Deltaville or another part of Middlesex County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Deltaville, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$1,920
Ownwell’s Deltaville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Deltaville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Deltaville 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 Deltaville, Virginia
Property taxes in Deltaville, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Deltaville is 0.61%, which is below the U.S. national median of 0.99%. Local government entities within Deltaville set these rates annually, and they can vary across different neighborhoods. Each year, Deltaville 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 Deltaville's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 23043 has both the highest and lowest median property tax rate of 0.61%. Understanding how these cities compare with Deltaville provides valuable insights into the varying tax landscape across Middlesex County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Deltaville Tax Rate
0.61%
Average Middlesex County Tax Rate
0.61%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Deltaville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23043 | 0.61% | 0.61% | 0.61% | 0.61% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Deltaville, Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Deltaville, Virginia. 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 Middlesex 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 Deltaville, 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. For example, the zip code 23043 has the highest median tax bill of $1,907, which is significantly lower than the national median property tax rate of 0.99%. 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 Deltaville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Deltaville Assessed Value
$314,800
Average Middlesex County Assessed Value
$256,200
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Deltaville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23043 | $119,800 | $188,500 | $314,800 | $471,500 | $657,200 |
Source: Ownwell
Property Tax Bills Across Deltaville, Virginia
In Deltaville, property tax bills are determined by multiplying the assessed value of a home by the local tax rate set by Middlesex County. The assessed value is typically a percentage of the market value of the property, which is determined by the county assessor. Homeowners in Deltaville can expect their tax bills to vary significantly depending on the value of their properties. For instance, the median home price in the area is $314,800, and tax bills can range from $1,132 at the 25th percentile to $3,937 at the 90th percentile. This variability means that while some homeowners may pay relatively modest amounts, others could face much higher bills. The median tax bill in the 23043 zip code is $1,907, which is below the national median property tax rate of 0.99%. This lower rate can be beneficial for homeowners, making Deltaville an attractive location for those looking to manage their property tax expenses effectively.
Average Deltaville Tax Bill
$1,907
Average Middlesex County Tax Bill
$1,538
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Deltaville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23043 | $720 | $1,132 | $1,907 | $2,864 | $3,937 |
Source: Ownwell