Saluda, Virginia Property Taxes
The median property tax rate in Saluda, VA is 0.61%, considerably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Saluda at $198,450, the typical annual property tax bill reaches $1,210, which is significantly below the national median of $2,690. Property taxes in Saluda 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 Saluda'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 Saluda or another part of Middlesex County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Saluda, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$1,211
$1,123
Ownwell’s Saluda Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Saluda with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Saluda 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 Saluda, Virginia
Property taxes in Saluda, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Saluda is 0.61%, lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Saluda set these rates annually, and they can vary significantly across different neighborhoods. Each year, Saluda 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 Saluda's effective property tax rate to other counties in Virginia and the national median. For comparison, the 23149 zip code has the highest median property tax rate of 0.61%, while the 23149 zip code also has the lowest median tax rate of 0.61%. Understanding how these cities compare with Saluda 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 Saluda 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 Saluda, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23149 | 0.61% | 0.61% | 0.61% | 0.61% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Saluda, Virginia
In Saluda, 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 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 Saluda, 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 Saluda helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Saluda is $198,450, with the 25th percentile tax bill at $720 and the 75th percentile at $1,884. The highest and lowest median tax bills are both $1,210, found in the 23149 zip code.
Average Saluda Assessed Value
$198,450
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 Saluda, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23149 | $49,800 | $118,600 | $198,450 | $311,550 | $483,820 |
Source: Ownwell
Property Tax Bills Across Saluda, Virginia
In Saluda, VA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Saluda is $198,450, and the tax rate is applied to this assessed value to determine the annual tax bill. Factors such as property improvements, market conditions, and comparable property values in the area influence the assessed value. For homeowners, this means that any significant changes in property value can lead to fluctuations in their tax bills. In Saluda, the tax bill varies widely, with the 25th percentile at $720 and the 75th percentile at $1,884. For those in the 90th percentile, the tax bill can go up to $2,887. The highest and lowest median tax bills are both $1,210 in the zip code 23149, reflecting some consistency in tax assessments within that area. Compared to the national median property tax rate of 0.99%, Saluda's tax rates can significantly impact homeowners, making it crucial to understand how these bills are calculated and what factors are involved.
Average Saluda Tax Bill
$1,210
Average Middlesex County Tax Bill
$1,538
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Saluda, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23149 | $305 | $720 | $1,210 | $1,884 | $2,887 |
Source: Ownwell