Wintergreen Resort, Nelson County, Virginia Property Taxes
The median property tax rate in Wintergreen Resort, VA is 0.65%, which is notably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Wintergreen Resort, the typical annual property tax bill comes to $260, significantly below the national median of $2,690. Property taxes in Wintergreen Resort are determined based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural use. Understanding Wintergreen Resort'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 Wintergreen Resort or another part of Nelson County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wintergreen Resort, Nelson County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$260
$241
Ownwell’s Wintergreen Resort Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wintergreen Resort with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wintergreen Resort 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 Wintergreen Resort, Nelson County, Virginia
Property taxes in Wintergreen Resort, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wintergreen Resort is 0.65%, lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Wintergreen Resort set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wintergreen Resort 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 Wintergreen Resort's effective property tax rate to other counties in Virginia and the national median. For comparison, the 22967 zip code has the highest median property tax rate of 0.65%, while the same zip code also has the lowest median tax rate of 0.65%. Understanding how these cities compare with Wintergreen Resort 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 Wintergreen Resort 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 Wintergreen Resort, Nelson County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22967 | 0.65% | 0.65% | 0.65% | 0.65% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Wintergreen Resort, Nelson County, Virginia
In Wintergreen Resort, 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 Nelson County 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 Wintergreen Resort, 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 Wintergreen Resort helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Wintergreen Resort are both $260.00, found in the 22967 zip code.
Property Tax Assessment Values Across Wintergreen Resort, Nelson County, Virginia
Source: Ownwell
$40,000
$179,400
$318,800
Average Wintergreen Resort Assessed Value
$40,000
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 Wintergreen Resort, Nelson County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22967 | $20,000 | $30,000 | $40,000 | $63,750 | $130,000 |
Source: Ownwell
Property Tax Bills Across Wintergreen Resort, Nelson County, Virginia
In Wintergreen Resort, Nelson County, VA, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The county then applies its tax rate to this assessed value to determine the annual tax bill. For instance, with a median home price of $40,000, homeowners can expect their tax bills to vary. At the 25th percentile, tax bills are around $195, while at the 75th percentile, they rise to approximately $422. The 90th percentile sees tax bills as high as $912. These figures indicate that while some homeowners may pay relatively low property taxes, others could face significantly higher bills depending on the assessed value of their property. This variation can affect homeowners' financial planning, as higher property taxes can increase the overall cost of owning a home. Compared to the national median property tax rate of 0.99%, Wintergreen Resort's property tax bills suggest a range that can either be more affordable or more burdensome, depending on individual circumstances.
Property Tax Bills Across Wintergreen Resort, Nelson County, Virginia
Source: Ownwell
$260
$1,485
$2,709
Average Wintergreen Resort Tax Bill
$260
Average Nelson County Tax Bill
$896
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Wintergreen Resort, Nelson County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22967 | $130 | $195 | $260 | $422 | $912 |
Source: Ownwell