Glade Spring, Virginia Property Taxes
The median property tax rate in Glade Spring, VA is 0.60%, which is notably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $103,100 in Glade Spring, the typical annual property tax bill amounts to $596, significantly under the national median of $2,690. Property taxes in Glade Spring are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Glade Spring'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 Glade Spring or another part of Washington County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Glade Spring, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$619
$574
Ownwell’s Glade Spring Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Glade Spring with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Glade Spring 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 Glade Spring, Virginia
Property taxes in Glade Spring, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Glade Spring is 0.60%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Glade Spring set these rates annually, and they can vary significantly across different neighborhoods. Each year, Glade Spring 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 Glade Spring's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 24340 has the highest median property tax rate of 0.60%, while the same zip code also has the lowest median tax rate of 0.60%. Understanding how these cities compare with Glade Spring provides valuable insights into the varying tax landscape across Washington County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Glade Spring Tax Rate
0.60%
Average Washington County Tax Rate
0.60%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Glade Spring, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24340 | 0.45% | 0.60% | 0.60% | 0.60% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Glade Spring, Virginia
In Glade Spring, 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 Washington 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 Glade Spring, 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 Glade Spring helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 24340 in Glade Spring has the highest median tax bill of $596 and also the lowest median tax bill of $596.
Average Glade Spring Assessed Value
$103,100
Average Washington County Assessed Value
$132,200
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Glade Spring, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24340 | $41,910 | $70,450 | $103,100 | $162,175 | $250,020 |
Source: Ownwell
Property Tax Bills Across Glade Spring, Virginia
In Glade Spring, VA, property tax bills are calculated based on the assessed value of a home. The assessed value is determined by the local tax assessor and reflects the property's market value. Factors such as location, property size, and improvements can influence this assessed value. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. For homeowners in Glade Spring, the median home price is $103,100. Property tax bills can vary widely, with the 25th percentile tax bill at $401 and the 75th percentile reaching $923. In some cases, tax bills can go as high as $1,356, as seen in the 90th percentile. These property taxes directly impact homeowners by contributing to local services such as schools, public safety, and infrastructure. While the median tax bill in Glade Spring is $596, which is below the national median property tax rate of 0.99%, it still represents a significant expense for many homeowners.
Average Glade Spring Tax Bill
$596
Average Washington County Tax Bill
$753
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Glade Spring, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24340 | $205 | $401 | $596 | $923 | $1,356 |
Source: Ownwell