Linville, Virginia Property Taxes
The median property tax rate in Linville, 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 $240,100 in Linville, the typical annual property tax bill amounts to $1,479, which is below the national median of $2,690. Property taxes in Linville are calculated based on the tax assessed value, often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Linville'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 Linville 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
Linville, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$1,633
Ownwell’s Linville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Linville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Linville 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 Linville, Virginia
Property taxes in Linville, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Linville is 0.68%, which is lower than the U.S. national median of 0.99%. Local government entities within Linville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Linville 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 Linville's effective property tax rate to other areas in Virginia and the national median. For comparison, the zip code 22834 has the highest median property tax rate of 0.68%, while the same zip code also has the lowest median tax rate of 0.68%. Understanding how these areas compare with Linville 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 Linville 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 Linville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22834 | 0.41% | 0.64% | 0.68% | 0.68% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Linville, Virginia
In Linville, 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 Linville, 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. For instance, the median home price in Linville is $240,100, and the tax bills range significantly. The 25th percentile tax bill is $991, while the 75th percentile tax bill is $2,361, and the 90th percentile tax bill reaches $3,177. The highest median tax bill in the area is $1,479 in the 22834 zip code, which is also the lowest median tax bill, indicating a uniform tax rate. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Linville Assessed Value
$240,100
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 Linville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22834 | $84,430 | $153,700 | $240,100 | $393,575 | $610,400 |
Source: Ownwell
Property Tax Bills Across Linville, Virginia
In Linville, 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 determine the annual property tax bill. Factors influencing the assessed value include the property's market value, location, and any improvements or modifications made to the property. For homeowners in Linville, the median home price is $240,100. Tax bills can vary significantly, with the 25th percentile tax bill at $991 and the 75th percentile at $2,361. The 90th percentile tax bill can reach up to $3,177. The highest median tax bill within the region is $1,479, found in the 22834 zip code. These tax bills can have a substantial impact on homeowners, influencing their overall housing costs and financial planning. Compared to the national median property tax rate of 0.99%, Linville's tax rates reflect the unique economic and market conditions of the area.
Average Linville Tax Bill
$1,479
Average Rockingham County Tax Bill
$1,584
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Linville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22834 | $428 | $991 | $1,479 | $2,361 | $3,177 |
Source: Ownwell