Shawsville, Virginia Property Taxes
The median property tax rate in Shawsville, VA is 0.70%, which is notably lower than both the national median of 0.99% and Virginia's state median of 0.89%. With the median home value in Shawsville at $147,100, the typical annual property tax bill amounts to $1,022, well below the national median of $2,690. Property taxes in Shawsville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Shawsville'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 Shawsville or another part of Montgomery County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Shawsville, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$1,030
$956
Ownwell’s Shawsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Shawsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shawsville 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 Shawsville, Virginia
Property taxes in Shawsville, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Shawsville is 0.70%, which is lower than the U.S. national median of 0.99%. Local government entities within Shawsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shawsville 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 Shawsville's effective property tax rate to other areas in Montgomery County and the national median. For comparison, the zip code 24162 in Montgomery County has the highest median property tax rate of 0.70%, while the same zip code also represents the lowest median tax rate of 0.70%. Understanding how these areas compare with Shawsville provides valuable insights into the varying tax landscape across Montgomery County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shawsville Tax Rate
0.70%
Average Montgomery County Tax Rate
0.70%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shawsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24162 | 0.70% | 0.70% | 0.70% | 0.70% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Shawsville, Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Shawsville, 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 Montgomery 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 Shawsville, 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. The median home price in Shawsville is $147,100, with tax bills ranging from $558 at the 25th percentile to $1,504 at the 75th percentile, and up to $1,964 at the 90th percentile. The zip code 24162 sees the highest median tax bill at $1,022. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Shawsville Assessed Value
$147,100
Average Montgomery County Assessed Value
$250,700
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shawsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24162 | $32,560 | $80,250 | $147,100 | $217,550 | $280,900 |
Source: Ownwell
Property Tax Bills Across Shawsville, Virginia
In Shawsville, Montgomery County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Homeowners in Shawsville face a median home price of $147,100. The tax bills vary significantly, with the 25th percentile at $558 and the 75th percentile at $1,504, showing a range of what homeowners might expect to pay. At the higher end, the 90th percentile tax bill reaches $1,964. These tax bills impact homeowners by influencing their overall housing costs. Compared to the national median property tax rate of 0.99%, Shawsville's property tax rates can be considered moderate. The highest and lowest median tax bills in the area are both $1,022, indicating a fairly uniform tax rate across different properties. Understanding these factors helps homeowners budget effectively and anticipate their annual financial obligations.
Average Shawsville Tax Bill
$1,022
Average Montgomery County Tax Bill
$1,751
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Shawsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24162 | $223 | $558 | $1,022 | $1,504 | $1,964 |
Source: Ownwell