Bentonville, Warren County, Virginia Property Taxes
The median property tax rate in Bentonville, VA is 0.49%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $371,100 in Bentonville, the typical annual property tax bill amounts to $1,816, which is well below the national median of $2,690. Property taxes in Bentonville are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Bentonville'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 Bentonville or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bentonville, Warren County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.49%
Estimate Property Tax Bill
$1,818
$1,687
Ownwell’s Bentonville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bentonville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bentonville 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 Bentonville, Warren County, Virginia
Property taxes in Bentonville, Virginia, are crucial for funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Bentonville is 0.49%, which is notably lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Bentonville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bentonville 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 Bentonville's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 22610 has the highest median property tax rate of 0.49%, while the same zip code also has the lowest median tax rate of 0.49%. Understanding how these areas compare with Bentonville provides valuable insights into the varying tax landscape across Warren County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bentonville Tax Rate
0.49%
Average Warren County Tax Rate
0.49%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bentonville, Warren County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22610 | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% |
Source: Ownwell
Property Tax Assessment Values Across Bentonville, Warren County, Virginia
In Bentonville, 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 local 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 Bentonville, 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 Bentonville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code with the highest and lowest median tax bill is 22610, both at $1,816.
Property Tax Assessment Values Across Bentonville, Warren County, Virginia
Source: Ownwell
$300,600
$545,875
$791,150
Average Bentonville Assessed Value
$371,100
Average Warren County Assessed Value
$306,900
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bentonville, Warren County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22610 | $136,740 | $235,525 | $371,100 | $545,300 | $734,080 |
Source: Ownwell
Property Tax Bills Across Bentonville, Warren County, Virginia
In Bentonville, VA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The assessed value typically reflects the market value but may be adjusted according to local regulations. Homeowners in Bentonville can expect their tax bills to vary depending on the assessed value of their property. For instance, homes in the 25th percentile have tax bills around $1,154, while those in the 75th percentile see bills closer to $2,675. High-value properties, such as those in the 90th percentile, can have tax bills reaching up to $3,606. The median home price in Bentonville stands at $371,100, and the property tax rate is influenced by this value. Compared to the national median property tax rate of 0.99%, Bentonville’s rates can be considered relatively moderate, which can significantly impact affordability for homeowners. These taxes fund essential local services such as schools, emergency services, and infrastructure, making them a crucial aspect of homeownership in the area.
Average Bentonville Tax Bill
$1,816
Average Warren County Tax Bill
$1,507
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Bentonville, Warren County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22610 | $670 | $1,154 | $1,816 | $2,675 | $3,606 |
Source: Ownwell