Cascade, Virginia Property Taxes
The median property tax rate in Cascade, VA is 0.69%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Cascade at $46,350, the typical annual property tax bill is approximately $369, well below the national median of $2,690. Property taxes in Cascade are calculated based on the assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Cascade'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 Cascade or another part of Pittsylvania County, comprehending the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Cascade, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$320
$297
Ownwell’s Cascade Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cascade with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cascade 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 Cascade, Virginia
Property taxes in Cascade, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cascade is 0.69%, lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Cascade set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cascade 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 Cascade's effective property tax rate to other counties in Virginia and the national median. For comparison, the 24069 zip code has the highest median property tax rate of 0.69%, while the same zip code also has the lowest median tax rate of 0.69%. Understanding how these cities compare with Cascade provides valuable insights into the varying tax landscape across Pittsylvania County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cascade Tax Rate
0.69%
Average Pittsylvania County Tax Rate
0.67%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cascade, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24069 | 0.62% | 0.62% | 0.69% | 0.77% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Cascade, Virginia
In Cascade, 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 Pittsylvania 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 Cascade, 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 Cascade helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in Cascade is $369 in zip code 24069, while the lowest is also $369 in the same zip code.
Average Cascade Assessed Value
$46,350
Average Pittsylvania County Assessed Value
$56,200
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cascade, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24069 | $6,000 | $13,000 | $46,350 | $105,600 | $173,680 |
Source: Ownwell
Property Tax Bills Across Cascade, Virginia
Property tax bills in Cascade, located in Pittsylvania County, VA, are calculated based on the assessed value of a property. The assessed value is determined by the local tax assessor and reflects the property's market value. Homeowners in Cascade see a range of property tax bills due to varying property values and the county's tax rate. For instance, the median home price in Cascade is $46,350. The tax bill can vary significantly; for example, at the 25th percentile, homeowners pay around $91, while those in the 75th percentile face bills closer to $774. At the higher end, the 90th percentile tax bill reaches $1,191. The highest median tax bill in the area is $369, which is significantly lower than the national median property tax rate of 0.99%. These property tax rates impact homeowners by influencing their annual financial obligations and overall cost of homeownership, making it essential for residents to understand how their tax bills are calculated and managed.
Average Cascade Tax Bill
$369
Average Pittsylvania County Tax Bill
$436
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Cascade, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24069 | $37 | $91 | $369 | $774 | $1,191 |
Source: Ownwell