Dungannon, Scott County, Virginia Property Taxes
The median property tax rate in Dungannon, 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 $67,400 in Dungannon, the typical annual property tax bill amounts to $531, significantly less than the national median of $2,690. Property taxes in Dungannon are based on the assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Dungannon'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 Dungannon or another part of Scott County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Dungannon, Scott County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$519
$482
Ownwell’s Dungannon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Dungannon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Dungannon 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 Dungannon, Scott County, Virginia
Property taxes in Dungannon, Virginia, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Dungannon is 0.77%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Dungannon set these rates annually, and they can vary significantly across different neighborhoods. Each year, Dungannon 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 Dungannon's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 24245 has the highest median property tax rate of 0.77%, while the same zip code also holds the lowest median tax rate of 0.77%. Understanding how these cities compare with Dungannon 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 Dungannon 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 Dungannon, Scott County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24245 | 0.77% | 0.77% | 0.77% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Dungannon, Scott County, Virginia
In Dungannon, 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 Assessor's Office 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 Dungannon, 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 Dungannon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Dungannon is $67,400, with the highest median tax bill of $531 found in the 24245 zip code.
Property Tax Assessment Values Across Dungannon, Scott County, Virginia
Source: Ownwell
$51,250
$83,250
$115,250
Average Dungannon Assessed Value
$67,400
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 Dungannon, Scott County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24245 | $14,790 | $35,475 | $67,400 | $105,950 | $173,560 |
Source: Ownwell
Property Tax Bills Across Dungannon, Scott County, Virginia
In Dungannon, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor. The median home price in Dungannon is $67,400, and the property tax rate is applied to this assessed value to determine the tax bill. Various factors, including property size, location, and improvements, influence the assessed value. Homeowners in Dungannon can expect their property tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $293, while at the 75th percentile, it rises to $831. At the 90th percentile, homeowners might see a tax bill of $1,343. The median property tax bill in the area is $531, which is lower than the national median property tax rate of 0.99%. These property taxes are crucial for funding local services such as schools, public safety, and infrastructure. Understanding how property taxes are calculated helps homeowners budget more effectively and anticipate annual expenses.
Average Dungannon Tax Bill
$531
Average Scott County Tax Bill
$739
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Dungannon, Scott County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24245 | $114 | $293 | $531 | $831 | $1,343 |
Source: Ownwell