Rowe, Russell County, Virginia Property Taxes
The median property tax rate in Rowe, VA is 0.63%, considerably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Rowe, the typical annual property tax bill reaches $188, significantly below the national median of $2,690. Property taxes in Rowe 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 Rowe'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 Rowe 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
Rowe, Russell County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$188
$174
Ownwell’s ROWE Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in ROWE with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ROWE 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 Rowe, Russell County, Virginia
Property taxes in Rowe, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Rowe is 0.63%, lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Rowe set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rowe 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 Rowe's effective property tax rate to other counties in Virginia and the national median. For comparison, the 24646 zip code has the highest median property tax rate of 0.63%, while the same zip code also has the lowest median tax rate of 0.63%. Understanding how these cities compare with Rowe 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 Rowe 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 Rowe, Russell County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24646 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Rowe, Russell County, Virginia
In Rowe, 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 Rowe, 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 Rowe helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Rowe are both $188.00, found in the zip code 24646.
Property Tax Assessment Values Across Rowe, Russell County, Virginia
Source: Ownwell
$20,600
$78,800
$137,000
Average Rowe Assessed Value
$29,800
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 Rowe, Russell County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24646 | $8,950 | $16,350 | $29,800 | $57,725 | $78,710 |
Source: Ownwell
Property Tax Bills Across Rowe, Russell County, Virginia
In Rowe, located in Russell County, VA, property tax bills are calculated based on the assessed value of a home. The median home price in Rowe is $29,800, which is significantly lower than the national median. Property taxes are determined by multiplying the assessed value by the local tax rate. For homeowners in Rowe, the tax bill at the 25th percentile is approximately $103, while at the 75th percentile, it rises to around $364. At the 90th percentile, homeowners can expect to pay about $496. Several factors influence the tax bill, including the property's assessed value and any applicable exemptions. The relatively low median home price in Rowe results in lower property tax bills compared to many other regions. For instance, the highest median tax bill in the area is $188, which aligns with the lowest median tax bill recorded in the same zip code, 24646. This affordability can make homeownership more accessible, but it also means less revenue for local services funded by property taxes.
Average Rowe Tax Bill
$188
Average Russell County Tax Bill
$497
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Rowe, Russell County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24646 | $56 | $103 | $188 | $364 | $496 |
Source: Ownwell