Coeburn, Virginia Property Taxes
The median property tax rate in Coeburn, VA is 0.77%, which is lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $51,250 in Coeburn, the typical annual property tax bill is $405, well below the national median of $2,690. Property taxes in Coeburn are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Coeburn'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 Coeburn or another part of Scott County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Coeburn, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$395
$366
Ownwell’s Coeburn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Coeburn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Coeburn 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 Coeburn, Virginia
Property taxes in Coeburn, Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Coeburn is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Coeburn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Coeburn 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 Coeburn's effective property tax rate to other counties in Virginia and the national median. For comparison, the 24230 zip code has the highest median property tax rate of 0.77%, while the same 24230 zip code also has the lowest median tax rate of 0.77%. Understanding how these cities compare with Coeburn 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 Coeburn 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 Coeburn, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24230 | 0.77% | 0.77% | 0.77% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Coeburn, Virginia
In Coeburn, 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 Coeburn, 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 Coeburn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Coeburn is $405, found in zip code 24230, while the lowest median tax bill is also $405 in the same zip code.
Average Coeburn Assessed Value
$51,250
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 Coeburn, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24230 | $16,390 | $25,600 | $51,250 | $83,875 | $112,020 |
Source: Ownwell
Property Tax Bills Across Coeburn, Virginia
In Coeburn, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by local government assessors who evaluate the market value of a property. Once the market value is established, it is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as property size, location, and condition can influence the assessed value. For homeowners in Coeburn, the median home price stands at $51,250. Property tax bills can vary significantly, with the 25th percentile tax bill at $202 and the 75th percentile reaching $657. The 90th percentile tax bill goes up to $863, indicating a range of what homeowners might expect to pay. Compared to the national median property tax rate of 0.99%, Coeburn's property tax bills reflect the local economic conditions and property values. Understanding these factors helps homeowners anticipate their annual tax obligations and plan their finances accordingly.
Average Coeburn Tax Bill
$405
Average Scott County Tax Bill
$739
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Coeburn, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24230 | $136 | $202 | $405 | $657 | $863 |
Source: Ownwell