Pocahontas, Virginia Property Taxes
The median property tax rate in Pocahontas, VA is 0.58%, considerably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Pocahontas, the typical annual property tax bill reaches $139, significantly below the national median of $2,690. Property taxes in Pocahontas are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Pocahontas'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 Pocahontas 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
Pocahontas, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$139
Ownwell’s Pocahontas Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Pocahontas with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Pocahontas 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 Pocahontas, Virginia
Property taxes in Pocahontas, Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Pocahontas is 0.58%, which is lower than the U.S. national median of 0.99%. Local government entities within Pocahontas set these rates annually, and they can vary significantly across different neighborhoods. Each year, Pocahontas 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 Pocahontas's effective property tax rate to other counties in Virginia and the national median. For comparison, the 24635 zip code has the highest median property tax rate of 0.58%, while the same zip code also represents the lowest median tax rate of 0.58%. Understanding how these areas compare with Pocahontas 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 Pocahontas 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 Pocahontas, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24635 | 0.58% | 0.58% | 0.58% | 0.58% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Pocahontas, Virginia
In POCAHONTAS, 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 POCAHONTAS, 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 POCAHONTAS helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area, both at $139.00, are found in the 24635 zip code.
Average Pocahontas Assessed Value
$24,000
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 Pocahontas, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24635 | $6,000 | $12,725 | $24,000 | $39,875 | $62,050 |
Source: Ownwell
Property Tax Bills Across Pocahontas, Virginia
In Pocahontas, VA, property tax bills are calculated based on the assessed value of the property and the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. For example, with a median home price of $24,000, the tax bill can vary significantly. Homeowners in the 25th percentile pay around $74, while those in the 75th percentile face tax bills of approximately $231. At the 90th percentile, tax bills can reach up to $360. Several factors influence these tax bills, including property size, location, and any improvements made to the property. Compared to the national median property tax rate of 0.99%, Pocahontas offers relatively affordable property taxes. This affordability can be beneficial for homeowners, providing lower annual expenses and potentially increasing the attractiveness of the area for new residents. Understanding these factors can help homeowners better anticipate their annual property tax obligations and manage their finances effectively.
Average Pocahontas Tax Bill
$139
Average Tazewell County Tax Bill
$465
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Pocahontas, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24635 | $35 | $74 | $139 | $231 | $360 |
Source: Ownwell