Jamesville, Virginia Property Taxes
The median property tax rate in Jamesville, VA is 0.76%, which is lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Jamesville at $628,400, the typical annual property tax bill amounts to $4,776, significantly surpassing the national median of $2,690. Property taxes in Jamesville 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 Jamesville'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 Jamesville 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
Jamesville, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.76%
Estimate Property Tax Bill
$4,776
$4,432
Ownwell’s Jamesville Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Jamesville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Jamesville to provide an estimate of your property tax bill. This valuable tool helps you understand your potential tax liabilities. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property’s assessed value is the value assigned by Northampton County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Jamesville, Virginia
Property taxes in Jamesville, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jamesville is 0.76%, which is lower than the U.S. national median of 0.99%. Local government entities within Jamesville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jamesville 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 Jamesville's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 23398 has both the highest and lowest median property tax rate of 0.76%. Understanding how these areas compare with Jamesville provides valuable insights into the varying tax landscape across Northampton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jamesville Tax Rate
0.76%
Average Northampton County Tax Rate
0.76%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jamesville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23398 | 0.76% | 0.76% | 0.76% | 0.76% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Jamesville, Virginia
In Jamesville, 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 Northampton 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 Jamesville, 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 Jamesville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 23398, amounting to $4,776.
Average Jamesville Assessed Value
$628,400
Average Northampton County Assessed Value
$142,500
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jamesville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23398 | $271,000 | $325,000 | $628,400 | $706,200 | $799,980 |
Source: Ownwell
Property Tax Bills Across Jamesville, Virginia
Property tax bills in Jamesville, Northampton County, VA, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county's assessor, who evaluates the property's market value. Homeowners in Jamesville can expect their property tax bills to vary significantly. For instance, the 25th percentile tax bill is around $2,470, while the 75th percentile reaches $5,367, and the 90th percentile hits $6,080. These figures highlight the range of property taxes that residents might encounter. The median home price in Jamesville stands at $628,400, which is considerably higher than the national median. This elevated home value contributes to higher property tax bills. The impact on homeowners can be substantial, as higher property taxes can affect monthly mortgage payments and overall affordability. Understanding these factors is crucial for homeowners to budget effectively and anticipate their annual financial obligations. The highest and lowest median tax bills are both recorded at $4,776 in the zip code 23398, showcasing some consistency in tax assessments within the area.
Average Jamesville Tax Bill
$4,776
Average Northampton County Tax Bill
$1,083
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Jamesville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23398 | $2,060 | $2,470 | $4,776 | $5,367 | $6,080 |
Source: Ownwell