Blackwater, Virginia Property Taxes
The median property tax rate in Blackwater, VA is 0.77%, notably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Blackwater at $87,100, the typical annual property tax bill amounts to $714, which is significantly below the national median of $2,690. Property taxes in Blackwater are determined based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. By understanding Blackwater's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners can achieve substantial annual savings. Whether residing in the heart of Blackwater or its surrounding areas, gaining insight into the local property tax structure is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Blackwater, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$671
Ownwell’s Blackwater Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Blackwater with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Blackwater 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 Blackwater, Virginia
Property taxes in Blackwater, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Blackwater is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Blackwater set these rates annually, and they can vary significantly across different neighborhoods. Each year, Blackwater 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 Blackwater's effective property tax rate to other counties in Virginia and the national median. For comparison, the 24221 ZIP code has both the highest and lowest median property tax rate of 0.77%. Understanding how these cities compare with Blackwater provides valuable insights into the varying tax landscape across Scott County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Blackwater Tax Rate
0.77%
Average Scott County Tax Rate
0.77%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Blackwater, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24221 | 0.77% | 0.77% | 0.77% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Blackwater, Virginia
In Blackwater, 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 Scott 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 Blackwater, 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 Blackwater helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Blackwater are both $714, found in the 24221 zip code.
Average Blackwater Assessed Value
$87,100
Average Scott County Assessed Value
$95,050
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Blackwater, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24221 | $31,960 | $55,400 | $87,100 | $136,900 | $212,300 |
Source: Ownwell
Property Tax Bills Across Blackwater, Virginia
In Blackwater, property tax bills are calculated based on the assessed value of the property, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to arrive at the annual tax bill. For homeowners in Scott County, where Blackwater is located, the median home price is $87,100. The property tax rate in this area results in a median tax bill of $714, which aligns with the national median property tax rate of 0.99%. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or deductions. Homeowners in the 25th percentile can expect a tax bill around $444, while those in the 75th percentile might see bills as high as $1,122. At the 90th percentile, tax bills can reach up to $1,665. These varying amounts reflect differences in property values and the specific characteristics of each home. Understanding these factors helps homeowners better anticipate their annual property tax obligations and manage their finances accordingly.
Average Blackwater Tax Bill
$714
Average Scott County Tax Bill
$739
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Blackwater, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24221 | $242 | $444 | $714 | $1,122 | $1,665 |
Source: Ownwell