Keezletown, Virginia Property Taxes
The median property tax rate in Keezletown, VA is 0.68%, which is significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $246,000 in Keezletown, the typical annual property tax bill amounts to $1,583, falling well below the national median of $2,690. Property taxes in Keezletown are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as primary residence and agricultural exemptions. By understanding Keezletown's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether you're in the heart of Keezletown or another part of Rockingham County, gaining insight into the local property tax system is essential for optimizing your property investment.
Last Updated June 14, 2024
Keezletown, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$1,673
Ownwell’s Keezletown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Keezletown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Keezletown 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 Keezletown, Virginia
Property taxes in Keezletown, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Keezletown is 0.68%, which is lower than the U.S. national median of 0.99%. Local government entities within Keezletown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Keezletown 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 Keezletown's effective property tax rate to other areas in Rockingham County and the national median. For comparison, the zip code 22832 has both the highest and the lowest median property tax rate of 0.68%. Understanding how these areas compare with Keezletown provides valuable insights into the varying tax landscape across Rockingham County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Keezletown Tax Rate
0.68%
Average Rockingham County Tax Rate
0.68%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Keezletown, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22832 | 0.38% | 0.68% | 0.68% | 0.68% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Keezletown, Virginia
In Keezletown, 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 Rockingham 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 Keezletown, 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. The median home price in Keezletown is $246,000, with tax bills ranging from $1,080 at the 25th percentile to $3,081 at the 90th percentile. The zip code 22832 has both the highest and lowest median tax bill of $1,583. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Keezletown, Virginia
Source: Ownwell
$144,500
$2,549,500
$4,954,500
Average Keezletown Assessed Value
$246,000
Average Rockingham County Assessed Value
$237,400
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Keezletown, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22832 | $109,700 | $171,425 | $246,000 | $364,275 | $588,240 |
Source: Ownwell
Property Tax Bills Across Keezletown, Virginia
In Keezletown, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Keezletown is $246,000, and property tax bills can vary significantly depending on the assessed value and specific circumstances of each property. The tax rate is applied to the assessed value to determine the annual tax bill. For example, homeowners in the 25th percentile pay around $1,080, while those in the 75th percentile face bills closer to $2,203. In some cases, tax bills can be as high as $3,081, particularly for properties in the 90th percentile. These property taxes fund essential local services such as schools, public safety, and infrastructure maintenance. Compared to the national median property tax rate of 0.99%, Keezletown’s rates suggest a relatively moderate tax burden for homeowners. Understanding how these factors influence your property tax bill can help in budgeting and financial planning, ensuring you are prepared for the annual costs of homeownership.
Average Keezletown Tax Bill
$1,583
Average Rockingham County Tax Bill
$1,584
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Keezletown, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22832 | $524 | $1,080 | $1,583 | $2,203 | $3,081 |
Source: Ownwell