Sedley, Virginia Property Taxes
The median property tax rate in Sedley, VA is 0.89%, aligning with the state median but slightly below the national median of 0.99%. With a median home value of $133,500 in Sedley, the typical annual property tax bill amounts to $1,186, which is significantly lower than the national median of $2,690. Property taxes in Sedley are calculated based on the assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Sedley'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 Sedley or another part of Southampton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sedley, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$1,188
Ownwell’s Sedley Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Sedley with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Sedley 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 Sedley, Virginia
Property taxes in Sedley, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Sedley is 0.89%, slightly lower than the U.S. national median of 0.99%. Local government entities within Sedley set these rates annually, and they can vary significantly across different neighborhoods. Each year, Sedley 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 Sedley's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 23878 has both the highest and lowest median property tax rate of 0.89%. Understanding how these cities compare with Sedley provides valuable insights into the varying tax landscape across Southampton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Sedley Tax Rate
0.89%
Average Southampton County Tax Rate
0.89%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sedley, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23878 | 0.89% | 0.89% | 0.89% | 0.89% | 0.89% |
Source: Ownwell
Property Tax Assessment Values Across Sedley, Virginia
In Sedley, 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 Southampton 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 Sedley, 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. The median home price in Sedley is $133,500, with tax bills ranging from $723 at the 25th percentile to $2,691 at the 90th percentile. Notably, the zip code 23878 has the highest and lowest median tax bill at $1,186. By understanding 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 Sedley helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Sedley Assessed Value
$133,500
Average Southampton County Assessed Value
$133,900
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sedley, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23878 | $45,210 | $81,575 | $133,500 | $212,175 | $301,870 |
Source: Ownwell
Property Tax Bills Across Sedley, Virginia
In Sedley, Southampton County, VA, property tax bills are calculated based on the assessed value of a home. Local assessors determine this value by evaluating various factors such as the home's size, age, location, and condition. Once the assessed value is established, it is multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Sedley, the median home price is $133,500. The property tax rate in Southampton County is 0.89%, which is slightly below the national median property tax rate of 0.99%. This means that the tax bill for a median-priced home typically falls between $723 at the 25th percentile and $2691 at the 90th percentile. The highest and lowest median tax bills in the area are both reported at $1186, indicating a relatively consistent tax rate across different property values. These property tax bills are crucial for homeowners as they directly impact annual housing expenses, influencing budgeting and financial planning.
Average Sedley Tax Bill
$1,186
Average Southampton County Tax Bill
$1,244
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Sedley, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23878 | $397 | $723 | $1,186 | $1,883 | $2,691 |
Source: Ownwell