Amonate, Virginia Property Taxes
The median property tax rate in Amonate, VA is 0.58%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Amonate being $18,900, the typical annual property tax bill is just $110, well below the national median of $2,690. Property taxes in Amonate are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Amonate'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 Amonate or another part of Tazewell County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Amonate, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$110
Ownwell’s Amonate Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Amonate with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Amonate 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 Amonate, Virginia
Property taxes in Amonate, Virginia, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Amonate is 0.58%, lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Amonate set these rates annually, and they can vary significantly across different neighborhoods. Each year, Amonate 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 Amonate's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 24601 has both the highest and lowest median property tax rate of 0.58%. Understanding how these cities compare with Amonate provides valuable insights into the varying tax landscape across Tazewell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Amonate Tax Rate
0.58%
Average Tazewell County Tax Rate
0.58%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Amonate, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24601 | 0.58% | 0.58% | 0.58% | 0.58% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Amonate, Virginia
In Amonate, 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 Tazewell 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 Amonate, 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 Amonate is $18,900, with tax bills ranging from $91 at the 25th percentile to $125 at the 90th percentile. 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 Amonate helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Amonate Assessed Value
$18,900
Average Tazewell County Assessed Value
$80,000
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Amonate, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24601 | $13,700 | $15,650 | $18,900 | $20,550 | $21,540 |
Source: Ownwell
Property Tax Bills Across Amonate, Virginia
In Amonate, Tazewell County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The median home price in Amonate is $18,900. Property taxes are then levied as a percentage of this assessed value. For example, homeowners in Amonate typically see tax bills ranging from $91 at the 25th percentile to $125 at the 90th percentile, with the highest median tax bill being $110 in the 24601 zip code. Several factors influence the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. Compared to the national median property tax rate of 0.99%, Amonate's rates result in relatively lower tax bills, which can be a financial relief for homeowners. However, the exact impact on individual homeowners can vary based on their property's specific assessed value and any changes in local tax policies. Understanding these factors is crucial for homeowners aiming to manage their property tax obligations effectively.
Average Amonate Tax Bill
$110
Average Tazewell County Tax Bill
$465
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Amonate, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24601 | $79 | $91 | $110 | $119 | $125 |
Source: Ownwell