Hiltons, Virginia Property Taxes
The median property tax rate in Hiltons, VA is 0.60%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Hiltons at $95,500, the typical annual property tax bill is $573, well below the national median of $2,690. Property taxes in Hiltons 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 Hiltons' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Hiltons 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
Hiltons, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$573
$532
Ownwell’s Hiltons Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hiltons with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hiltons 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 Hiltons, Virginia
Property taxes in Hiltons, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hiltons is 0.60%, lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Hiltons set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hiltons 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 Hiltons' effective property tax rate to other counties in Virginia and the national median. For comparison, the 24258 zip code has both the highest and lowest median property tax rate of 0.60%. Understanding how these cities compare with Hiltons 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 Hiltons 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 Hiltons, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24258 | 0.35% | 0.60% | 0.60% | 0.60% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Hiltons, Virginia
In Hiltons, 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 Hiltons, 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. For example, the highest median tax bill in Hiltons is $573 in the 24258 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hiltons Assessed Value
$95,500
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 Hiltons, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24258 | $14,500 | $48,500 | $95,500 | $196,050 | $270,680 |
Source: Ownwell
Property Tax Bills Across Hiltons, Virginia
In Hiltons, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. Once the assessed value is established, the local tax rate is applied to this value to calculate the annual property tax bill. For instance, with a median home price of $95,500, homeowners can expect varying tax bills depending on their property's assessed value and applicable exemptions. Homeowners in Hiltons experience a range of tax bills. At the 25th percentile, the tax bill is around $302, while at the 75th percentile, it rises to approximately $909. Those in the 90th percentile see bills as high as $1,157. These figures highlight how property taxes can significantly impact household budgets, especially when compared to the national median property tax rate of 0.99%. The highest and lowest median tax bills in the region are both $573, indicating some consistency in the area. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Hiltons Tax Bill
$573
Average Washington County Tax Bill
$753
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Hiltons, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24258 | $120 | $302 | $573 | $909 | $1,157 |
Source: Ownwell