Cedar Bluff, Virginia Property Taxes
The median property tax rate in Cedar Bluff, VA is 0.63%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Cedar Bluff, the typical annual property tax bill amounts to $631, well below the national median of $2,690. Property taxes in Cedar Bluff are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Cedar Bluff'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 Cedar Bluff 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
Cedar Bluff, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$631
Ownwell’s Cedar Bluff Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cedar Bluff with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cedar Bluff 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 Cedar Bluff, Virginia
Property taxes in Cedar Bluff, Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cedar Bluff is 0.63%, which is below the U.S. national median of 0.99%. Local government entities within Cedar Bluff set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cedar Bluff 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 Cedar Bluff's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 24609 has both the highest and lowest median property tax rate of 0.63%. Understanding how these cities compare with Cedar Bluff provides valuable insights into the varying tax landscape across Russell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cedar Bluff Tax Rate
0.63%
Average Russell County Tax Rate
0.63%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cedar Bluff, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24609 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Cedar Bluff, Virginia
In Cedar Bluff, 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 Russell 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 Cedar Bluff, 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. The median home price in Cedar Bluff is $100,200. Tax bills can vary significantly, with the 25th percentile at $403, the 75th percentile at $942, and the 90th percentile reaching $1,326. Interestingly, the zip code 24609 has both the highest and lowest median tax bill at $631. By understanding 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 Cedar Bluff helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cedar Bluff Assessed Value
$100,200
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 Cedar Bluff, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24609 | $43,280 | $63,900 | $100,200 | $149,600 | $210,520 |
Source: Ownwell
Property Tax Bills Across Cedar Bluff, Virginia
In Cedar Bluff, located in Russell County, VA, property tax bills are calculated based on the assessed value of a home. The local tax rate is applied to this assessed value to determine the annual tax bill. For example, with a median home price of $100,200, homeowners can expect varying tax bills depending on their property's specific assessed value. Factors such as the home's location, size, and condition can influence the assessed value, thereby affecting the tax bill. Homeowners in Cedar Bluff experience tax bills ranging from the 25th percentile at $403 to the 75th percentile at $942, with the 90th percentile reaching up to $1,326. The highest and lowest median tax bills in the area are both $631, indicating a consistent tax rate across the region. Compared to the national median property tax rate of 0.99%, Cedar Bluff's tax rates provide a relatively affordable option for homeowners, impacting their overall financial planning and housing costs favorably.
Average Cedar Bluff Tax Bill
$631
Average Russell County Tax Bill
$497
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Cedar Bluff, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24609 | $273 | $403 | $631 | $942 | $1,326 |
Source: Ownwell