Schuyler, Virginia Property Taxes
The median property tax rate in Schuyler, VA is 0.65%, which is significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Schuyler at $84,200, the typical annual property tax bill is $523, well below the national median of $2,690. Property taxes in Schuyler are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Schuyler'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 Schuyler or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Schuyler, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$547
Ownwell’s Schuyler Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Schuyler with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Schuyler 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 Schuyler, Virginia
Property taxes in Schuyler, Virginia, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Schuyler is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within Schuyler set these rates annually, and they can vary significantly across different neighborhoods. Each year, Schuyler 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 Schuyler's effective property tax rate to other areas in Virginia and the national median. For comparison, the zip code 22969 has both the highest and lowest median property tax rate of 0.65%. Understanding how these areas compare with Schuyler 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 Schuyler 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 Schuyler, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22969 | 0.65% | 0.65% | 0.65% | 0.65% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Schuyler, Virginia
In Schuyler, 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 local 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 Schuyler, 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 Schuyler helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $523, found in the zip code 22969.
Average Schuyler Assessed Value
$84,200
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 Schuyler, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22969 | $12,000 | $25,800 | $84,200 | $164,350 | $282,540 |
Source: Ownwell
Property Tax Bills Across Schuyler, Virginia
In Schuyler, VA, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the market value, which is determined by the county assessor. For example, with a median home price of $84,200, homeowners can expect their tax bills to vary significantly based on their property's assessed value and applicable exemptions. Factors influencing the tax bill include the property's location, any applicable exemptions, and the local tax rate. In Schuyler, the 25th percentile of property tax bills is $162, while the 75th percentile is $1,010, indicating a broad range of tax obligations among homeowners. The highest median tax bill in the area is $523, consistent across the zip code 22969. Compared to the national median property tax rate of 0.99%, Schuyler's property taxes can be relatively modest, but they can still represent a significant expense for homeowners. Understanding these factors can help residents better anticipate their property tax obligations and manage their finances effectively.
Average Schuyler Tax Bill
$523
Average Nelson County Tax Bill
$896
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Schuyler, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22969 | $71 | $162 | $523 | $1,010 | $1,782 |
Source: Ownwell