Hiltons, Virginia Property Taxes
The median property tax rate in Hiltons, VA is 0.77%, which is notably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Hiltons at $115,250, the typical annual property tax bill amounts to $893, significantly below the national median of $2,690. Property taxes in Hiltons are calculated based on the tax assessed value, which is often less than the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Hiltons' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Hiltons 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
Hiltons, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$887
$824
Ownwell’s Hiltons Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hiltons with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hiltons 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 Hiltons, Virginia
Property taxes in Hiltons, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hiltons is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Hiltons set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hiltons 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 Hiltons' effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 24258 has both the highest and lowest median property tax rate of 0.77%, reflecting the uniformity within the region. Understanding how these figures compare with Hiltons 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 Hiltons 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 Hiltons, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24258 | 0.77% | 0.77% | 0.77% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Hiltons, Virginia
In Hiltons, 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. 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. In Hiltons, the median home price is $115,250, with tax bills ranging from $591 at the 25th percentile to $1,841 at the 90th percentile. The highest and lowest median tax bill is $893 in the 24258 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hiltons Assessed Value
$115,250
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 Hiltons, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24258 | $39,930 | $76,275 | $115,250 | $176,000 | $235,440 |
Source: Ownwell
Property Tax Bills Across Hiltons, Virginia
In Hiltons, located in Scott County, VA, property tax bills are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor and reflects the property's market value. The local tax rate, applied to this assessed value, ultimately determines the tax bill for homeowners. For instance, with a median home price of $115,250, homeowners in Hiltons can expect varying tax bills. The 25th percentile tax bill is around $591, while the 75th percentile reaches approximately $1,362. At the 90th percentile, tax bills can go up to $1,841. These figures illustrate the range of property tax burdens homeowners might face, depending on their property's value and the local tax rate. Comparatively, the highest median tax bill in the area is $893, which is consistent across different zip codes within the county. This range of tax bills can significantly impact homeowners' annual expenses, making it crucial to understand how property taxes are calculated and what factors influence them.
Average Hiltons Tax Bill
$893
Average Scott County Tax Bill
$739
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Hiltons, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24258 | $311 | $591 | $893 | $1,362 | $1,841 |
Source: Ownwell