Duffield, Virginia Property Taxes
The median property tax rate in Duffield, VA is 0.77%, which is lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Duffield at $84,000, the typical annual property tax bill amounts to $650, significantly below the national median of $2,690. Property taxes in Duffield are calculated based on the tax assessed value, which is often less than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Duffield's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Duffield 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
Duffield, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$647
$600
Ownwell’s Duffield Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Duffield with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Duffield 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 Duffield, Virginia
Property taxes in Duffield, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Duffield is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Duffield set these rates annually, and they can vary significantly across different neighborhoods. Each year, Duffield 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 Duffield's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 24244 has the highest median property tax rate of 0.77%, while the same zip code also has the lowest median tax rate of 0.77%. Understanding how these cities compare with Duffield 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 Duffield 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 Duffield, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24244 | 0.77% | 0.77% | 0.77% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Duffield, Virginia
In Duffield, 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 Duffield, 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 Duffield helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 24244 has the highest and lowest median tax bill at $650.
Average Duffield Assessed Value
$84,000
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 Duffield, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24244 | $24,400 | $48,700 | $84,000 | $134,175 | $189,030 |
Source: Ownwell
Property Tax Bills Across Duffield, Virginia
Property tax bills in Duffield, VA, are determined based on the assessed value of a property and the local tax rate. The median home price in Duffield is $84,000. The local tax rate is applied to this assessed value to calculate the tax bill. For instance, the tax bill at the 25th percentile is $380, while at the 75th percentile, it rises to $1,043. At the 90th percentile, the tax bill can reach up to $1,469. These figures show how property taxes can vary significantly depending on the property's assessed value. Factors such as property improvements, location, and market conditions influence the assessed value, thereby affecting the tax bill. Homeowners in Duffield should be aware of these variables, as they directly impact their annual financial obligations. Compared to the national median property tax rate of 0.99%, Duffield's tax bills reflect a localized approach to property taxation, ensuring that the tax burden aligns with the local economic environment and property values.
Average Duffield Tax Bill
$650
Average Scott County Tax Bill
$739
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Duffield, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24244 | $188 | $380 | $650 | $1,043 | $1,469 |
Source: Ownwell