Weyers Cave, Virginia Property Taxes
The median property tax rate in Weyers Cave, VA is 0.68%, notably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Weyers Cave at $235,900, the typical annual property tax bill is $1,585, which is significantly below the national median of $2,690. Property taxes in Weyers Cave are calculated based on the tax assessed value, often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Weyers Cave'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 Weyers Cave or another part of Rockingham County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Weyers Cave, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$1,604
Ownwell’s Weyers Cave Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Weyers Cave with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Weyers Cave 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 Weyers Cave, Virginia
Property taxes in Weyers Cave, Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Weyers Cave is 0.68%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Weyers Cave set these rates annually, and they can vary significantly across different neighborhoods. Each year, Weyers Cave 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 Weyers Cave's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 24486 has both the highest and lowest median property tax rate of 0.68%. Understanding how these cities compare with Weyers Cave 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 Weyers Cave 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 Weyers Cave, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24486 | 0.64% | 0.68% | 0.68% | 0.68% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Weyers Cave, Virginia
In Weyers Cave, 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 Assessment Office 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 Weyers Cave, 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 Weyers Cave helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Weyers Cave is $235,900, with the highest and lowest median tax bills both being $1,585 in zip code 24486.
Property Tax Assessment Values Across Weyers Cave, Virginia
Source: Ownwell
$144,500
$2,549,500
$4,954,500
Average Weyers Cave Assessed Value
$235,900
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 Weyers Cave, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24486 | $132,680 | $160,100 | $235,900 | $318,000 | $424,120 |
Source: Ownwell
Property Tax Bills Across Weyers Cave, Virginia
In Weyers Cave, located in Rockingham County, VA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and reflects the market value of the property. Homeowners in Weyers Cave can expect a median home price of $235,900, which plays a significant role in the overall tax bill. The tax rate is applied to the assessed value to calculate the annual property tax bill. For example, the tax bills in the 25th percentile are around $1,088, while those in the 75th percentile reach approximately $2,073. For the top 10% of homes, tax bills can go up to $2,603. The highest and lowest median tax bills in the area both stand at $1,585, which is notably above the national median property tax rate of 0.99%. These property taxes fund essential public services such as schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners in Weyers Cave.
Average Weyers Cave Tax Bill
$1,585
Average Rockingham County Tax Bill
$1,584
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Weyers Cave, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24486 | $858 | $1,088 | $1,585 | $2,073 | $2,603 |
Source: Ownwell