Russell County, Virginia Property Taxes
The median property tax rate in Russell County is 0.63%, which is significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Russell County, the typical annual property tax bill reaches $497, which is considerably below the national median of $2,690. Property taxes in Russell County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Russell County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Lebanon or another part of Russell County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Russell County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$497
$461
Ownwell’s Russell County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Russell County with just two data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Russell County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value considers any exemptions you may have on your property.
Property Tax Rates Across Russell County, Virginia
Property taxes in Russell County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Russell County is 0.63%, which is lower than the U.S. national median of 0.99%. Local government entities within Russell County set these rates annually, and they can vary significantly between different areas within the county. Each year, Russell County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Russell County's effective property tax rate with other counties in Virginia and the national median. For comparison, the city of Castlewood has one of the higher property tax rates in Virginia at 0.63%, while the city of Castlewood also boasts one of the lowest at 0.63%. Analyzing how Russell County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Russell County Tax Rate
0.63%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Russell County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Castlewood | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
| Cedar Bluff | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
| Cleveland | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
| Dante | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
| Dungannon | N/A | N/A | N/A | N/A | N/A |
| Honaker | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
| Lebanon | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
| Nickelsville | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
| Raven | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
| Rosedale | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
| Rowe | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
| Saint Paul | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
| Swords Creek | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Russell County, Virginia
In Russell County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Russell County Appraisal District. The assessed value, however, 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 Russell County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Cities like Rosedale and Dante show varied tax bills, with Rosedale having the highest median tax bill at $863, while Dante has the lowest at $130. Being aware of these valuation processes in Russell County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Russell County Assessed Value
$78,900
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Russell County, Virginia
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Castlewood | $26,000 | $45,700 | $74,600 | $107,750 | $147,520 |
| Cedar Bluff | $43,280 | $63,900 | $100,200 | $149,600 | $210,520 |
| Cleveland | $16,830 | $35,250 | $64,200 | $98,075 | $141,700 |
| Dante | $8,230 | $14,000 | $20,600 | $27,975 | $40,130 |
| Dungannon | N/A | N/A | N/A | N/A | N/A |
| Honaker | $25,740 | $42,200 | $67,900 | $102,700 | $141,360 |
| Lebanon | $40,700 | $65,550 | $102,800 | $144,950 | $204,020 |
| Nickelsville | $46,110 | $64,300 | $95,850 | $126,725 | $229,060 |
| Raven | $23,000 | $32,150 | $43,400 | $64,350 | $90,400 |
| Rosedale | $72,120 | $101,200 | $137,000 | $171,950 | $224,680 |
| Rowe | $8,950 | $16,350 | $29,800 | $57,725 | $78,710 |
| Saint Paul | $15,890 | $33,600 | $68,250 | $119,450 | $153,110 |
| Swords Creek | $18,640 | $33,600 | $52,800 | $84,050 | $123,740 |
Source: Ownwell
Property Tax Bills Across Russell County, Virginia
In Russell County, VA, property tax bills are calculated based on the assessed value of a home. The local tax assessor determines this value, which is then multiplied by the county's tax rate to calculate the tax bill. For instance, with a median home price of $78,900, the tax bill can vary significantly. Homeowners in the 25th percentile can expect to pay around $287, while those in the 75th percentile might see bills closer to $765. At the higher end, the 90th percentile tax bill can reach $1,081. Several factors influence these calculations, including property location, home improvements, and market conditions. For example, homeowners in Rosedale face the highest median tax bill at $863, whereas those in Dante pay the lowest at $130. These property taxes impact homeowners by affecting their overall housing costs and disposable income. Compared to the national median property tax rate of 0.99%, Russell County's rates reflect a localized approach to property taxation, ensuring that tax burdens are distributed based on property values and community needs.
Average Russell County Tax Bill
$497
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Russell County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Castlewood | $164 | $288 | $470 | $679 | $929 |
| Cedar Bluff | $273 | $403 | $631 | $942 | $1,326 |
| Cleveland | $106 | $222 | $404 | $618 | $893 |
| Dante | $52 | $88 | $130 | $176 | $253 |
| Dungannon | N/A | N/A | N/A | N/A | N/A |
| Honaker | $162 | $266 | $428 | $647 | $891 |
| Lebanon | $256 | $413 | $648 | $913 | $1,285 |
| Nickelsville | $290 | $405 | $604 | $798 | $1,443 |
| Raven | $145 | $203 | $273 | $405 | $570 |
| Rosedale | $454 | $638 | $863 | $1,083 | $1,415 |
| Rowe | $56 | $103 | $188 | $364 | $496 |
| Saint Paul | $100 | $212 | $430 | $753 | $965 |
| Swords Creek | $117 | $212 | $333 | $530 | $780 |
Source: Ownwell