Warsaw, Westmoreland County, Virginia Property Taxes
The median property tax rate in Warsaw, VA is 0.62%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Warsaw at $106,900, the typical annual property tax bill is $635, well below the national median of $2,690. Property taxes in Warsaw are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Warsaw'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 Warsaw 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
Warsaw, Westmoreland County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$663
$615
Ownwell’s Warsaw Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Warsaw with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Warsaw 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 Warsaw, Westmoreland County, Virginia
Property taxes in Warsaw, Virginia, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Warsaw is 0.62%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Warsaw set these rates annually, and they can vary significantly across different neighborhoods. Each year, Warsaw 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 Warsaw's effective property tax rate to other counties in Virginia and the national median. For comparison, the 22572 zip code has both the highest and lowest median property tax rate of 0.62%. Understanding how these cities compare with Warsaw provides valuable insights into the varying tax landscape across Westmoreland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Warsaw Tax Rate
0.62%
Average Westmoreland County Tax Rate
0.62%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Warsaw, Westmoreland County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22572 | 0.54% | 0.62% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Warsaw, Westmoreland County, Virginia
In Warsaw, 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 Warsaw, 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 Warsaw helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 22572, with a median tax bill of $635.
Property Tax Assessment Values Across Warsaw, Westmoreland County, Virginia
Source: Ownwell
$21,700
$133,300
$244,900
Average Warsaw Assessed Value
$106,900
Average Westmoreland County Assessed Value
$52,550
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Warsaw, Westmoreland County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22572 | $11,000 | $26,950 | $106,900 | $190,600 | $278,700 |
Source: Ownwell
Property Tax Bills Across Warsaw, Westmoreland County, Virginia
Property tax bills in Warsaw, VA, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the local assessor's office and reflects the market value of the property. Factors such as property size, location, and condition are considered during assessment. The local tax rate, applied to the assessed value, determines the annual tax bill. In Warsaw, the median home price is $106,900, and property tax bills can vary significantly. For instance, the tax bill at the 25th percentile is $159, while at the 75th percentile, it's $1,107. Those at the 90th percentile see tax bills as high as $1,536. The highest and lowest median tax bills in the area are both $635, found in the 22572 zip code. Compared to the national median property tax rate of 0.99%, Warsaw's rates can be seen as relatively moderate. Homeowners need to budget for these taxes, as they represent a significant annual expense that can impact overall financial planning.
Average Warsaw Tax Bill
$635
Average Westmoreland County Tax Bill
$310
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Warsaw, Westmoreland County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22572 | $29 | $159 | $635 | $1,107 | $1,536 |
Source: Ownwell