Doran, Virginia Property Taxes
The median property tax rate in Doran, VA is 0.58%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $59,300 in Doran, the typical annual property tax bill is $344, well below the national median of $2,690. Property taxes in Doran are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Doran'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 Doran 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
Doran, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$344
$319
Ownwell’s Doran Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, or potential buyers looking to estimate their annual property taxes in Doran. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Doran to provide an accurate estimate of your property tax bill. This helps you understand your potential tax liabilities with ease. For those interested in more detailed trends on a neighborhood level, additional localized information is available below. Your property’s assessed value is determined by the county and is used for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Doran, Virginia
Property taxes in Doran, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Doran is 0.58%, lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Doran set these rates annually, and they can vary significantly across different neighborhoods. Each year, Doran 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 Doran's effective property tax rate to other counties in Virginia and the national median. For comparison, the 24612 zip code has the highest median property tax rate of 0.58%, while the same 24612 zip code also has the lowest median tax rate of 0.58%. Understanding how these areas compare with Doran 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 Doran 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 Doran, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24612 | 0.58% | 0.58% | 0.58% | 0.58% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Doran, Virginia
In Doran, 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 Doran, 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 Doran helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Doran, the highest median tax bill is $344.00 in the zip code 24612, which is also the lowest median tax bill.
Average Doran Assessed Value
$59,300
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 Doran, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24612 | $54,680 | $57,200 | $59,300 | $64,525 | $72,670 |
Source: Ownwell
Property Tax Bills Across Doran, Virginia
In Doran, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the property. For example, a home with a median price of $59,300 in Doran will have its tax bill calculated based on this assessed value. The tax rate is applied to this assessed value to determine the final tax bill. Several factors influence the property tax bill, including the local tax rate and any applicable exemptions or deductions. In Doran, the tax bills can vary significantly, with the 25th percentile tax bill at $332 and the 75th percentile at $374, while the 90th percentile reaches $421. Comparatively, the national median property tax rate is 0.99%, which can provide a benchmark for understanding local rates. For homeowners, these property tax bills represent an essential part of their annual expenses, influencing decisions about homeownership and financial planning. Understanding how these taxes are calculated can help homeowners better manage their budgets and anticipate future costs.
Average Doran Tax Bill
$344
Average Tazewell County Tax Bill
$465
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Doran, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24612 | $317 | $332 | $344 | $374 | $421 |
Source: Ownwell