Huntly, Virginia Property Taxes
The median property tax rate in Huntly, VA is 0.61%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Huntly at $357,000, the typical annual property tax bill is $1,924, which is well below the national median of $2,690. Property taxes in Huntly 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 Huntly'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 Huntly 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
Huntly, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$2,178
Ownwell’s Huntly Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Huntly with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Huntly 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 Huntly, Virginia
Property taxes in Huntly, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Huntly is 0.61%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Huntly set these rates annually, and they can vary significantly across different neighborhoods. Each year, Huntly 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 Huntly's effective property tax rate to other areas in Virginia and the national median. For comparison, the zip code 22640 has the highest median property tax rate of 0.61%, while the same zip code also has the lowest median tax rate of 0.61%. Understanding how these areas compare with Huntly provides valuable insights into the varying tax landscape across Rappahannock County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Huntly Tax Rate
0.61%
Average Rappahannock County Tax Rate
0.61%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Huntly, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22640 | 0.30% | 0.48% | 0.61% | 0.61% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Huntly, Virginia
In Huntly, 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 Rappahannock 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 Huntly, 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 Huntly 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 found in zip code 22640, amounting to $1,924.
Average Huntly Assessed Value
$357,000
Average Rappahannock County Assessed Value
$307,100
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Huntly, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22640 | $50,000 | $169,150 | $357,000 | $635,850 | $988,990 |
Source: Ownwell
Property Tax Bills Across Huntly, Virginia
In Huntly, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the county's property tax rate to determine the annual tax bill. For instance, in Rappahannock County, where Huntly is located, the local tax rate is applied to the assessed value to calculate the tax obligation. Factors such as the home's market value, location, and any applicable exemptions play a role in determining the assessed value. For homeowners in Huntly, the median home price is $357,000, leading to varying tax bills across different percentiles. For example, the tax bill at the 25th percentile is $799, while at the 75th percentile, it rises to $3,096, and at the 90th percentile, it reaches $4,819. These figures illustrate how property taxes can significantly impact homeowners, especially when compared to the national median property tax rate of 0.99%.
Average Huntly Tax Bill
$1,924
Average Rappahannock County Tax Bill
$1,730
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Huntly, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22640 | $180 | $799 | $1,924 | $3,096 | $4,819 |
Source: Ownwell