Heathsville, Virginia Property Taxes
The median property tax rate in Heathsville, VA is 0.70%, which is lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $172,408 in Heathsville, the typical annual property tax bill amounts to $1,207, significantly below the national median of $2,690. Property taxes in Heathsville are calculated based on the tax-assessed value, which is often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Heathsville'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 Heathsville or another part of Richmond County, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Heathsville, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$1,207
Ownwell’s Heathsville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Heathsville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Heathsville 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 Heathsville, Virginia
Property taxes in Heathsville, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Heathsville is 0.70%, lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Heathsville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Heathsville 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 Heathsville's effective property tax rate to other counties in Virginia and the national median. For comparison, the 22473 zip code has the highest median property tax rate of 0.70%, while the same zip code also has the lowest median tax rate of 0.70%. Understanding how these areas compare with Heathsville provides valuable insights into the varying tax landscape across Richmond County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Heathsville Tax Rate
0.70%
Average Richmond County Tax Rate
0.70%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Heathsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22473 | 0.70% | 0.70% | 0.70% | 0.70% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Heathsville, Virginia
In Heathsville, 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 Richmond 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. Assessment notices in Heathsville 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 Heathsville 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 $1207, found in the 22473 zip code.
Average Heathsville Assessed Value
$172,408
Average Richmond County Assessed Value
$134,435
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Heathsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22473 | $83,273 | $116,698 | $172,408 | $173,015 | $173,379 |
Source: Ownwell
Property Tax Bills Across Heathsville, Virginia
In Heathsville, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is then multiplied by the local tax rate to compute the annual tax bill. For instance, with a median home price of $172,408, homeowners in Heathsville can expect their tax bills to vary significantly. The 25th percentile tax bill is around $817, while the 75th percentile reaches approximately $1,211, and the 90th percentile is $1,214. These variations are influenced by factors such as property location, size, and improvements. Compared to the national median property tax rate of 0.99%, Heathsville's rates can be relatively moderate or higher, impacting homeowners' financial planning. Understanding these factors helps homeowners anticipate their tax obligations and manage their budgets effectively.
Average Heathsville Tax Bill
$1,207
Average Richmond County Tax Bill
$931
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Heathsville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22473 | $583 | $817 | $1,207 | $1,211 | $1,214 |
Source: Ownwell