Nellysford, Nelson County, Virginia Property Taxes
The median property tax rate in Nellysford, VA is 0.65%, notably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Nellysford at $318,800, the typical annual property tax bill amounts to $2,023, which is below the national median of $2,690. Property taxes in Nellysford are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Nellysford'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 Nellysford or another part of Nelson County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Nellysford, Nelson County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$2,072
$1,923
Ownwell’s Nellysford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Nellysford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Nellysford 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 Nellysford, Nelson County, Virginia
Property taxes in Nellysford, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Nellysford is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within Nellysford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Nellysford 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 Nellysford's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 22958 has both the highest and lowest median property tax rate of 0.65%. Understanding how these areas compare with Nellysford provides valuable insights into the varying tax landscape across Nelson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Nellysford Tax Rate
0.65%
Average Nelson County Tax Rate
0.65%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Nellysford, Nelson County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22958 | 0.65% | 0.65% | 0.65% | 0.65% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Nellysford, Nelson County, Virginia
In Nellysford, 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 Nelson 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 Nellysford, 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 Nellysford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with both the highest and lowest median tax bills is 22958, with a tax bill of $2023.
Property Tax Assessment Values Across Nellysford, Nelson County, Virginia
Source: Ownwell
$40,000
$179,400
$318,800
Average Nellysford Assessed Value
$318,800
Average Nelson County Assessed Value
$144,600
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Nellysford, Nelson County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22958 | $40,000 | $70,000 | $318,800 | $486,850 | $627,060 |
Source: Ownwell
Property Tax Bills Across Nellysford, Nelson County, Virginia
Property tax bills in Nellysford, located in Nelson County, VA, are determined by the assessed value of a property and the local tax rate. The median home price in Nellysford is $318,800. Homeowners in this area can expect a wide range of property tax bills. For instance, the 25th percentile tax bill is $440, while the 75th percentile tax bill is $3,102, and the 90th percentile tax bill reaches up to $4,030. These tax bills are influenced by multiple factors, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. The highest and lowest median tax bills both stand at $2,023 within the 22958 zip code. Compared to the national median property tax rate of 0.99%, Nellysford offers a varied landscape for property taxes, which can significantly impact homeowners' finances. Understanding these factors can help homeowners better anticipate their annual property tax obligations and plan their budgets accordingly.
Average Nellysford Tax Bill
$2,023
Average Nelson County Tax Bill
$896
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Nellysford, Nelson County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22958 | $221 | $440 | $2,023 | $3,102 | $4,030 |
Source: Ownwell