Colonial Heights, Colonial Heights County, Virginia Property Taxes

Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Colonial Heights’ effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S.

Colonial Heights in Virginia has a median property tax rate of 1.20%, which is above the national median of 1.02%. This figure is consistent across the city, highlighting a uniformity in tax rates that may not be present in other regions. The rate is reflective of the city's budgetary needs and the value of taxable property within its jurisdiction. When compared to the national median property tax bill of $2400, Colonial Heights’ residents might experience higher tax bills, depending on their property's assessed value. Understanding these figures can help property owners in Colonial Heights make informed decisions about their property taxes.

In Colonial Heights, VA, property taxes are calculated based on the assessed value of a home, which is determined by local tax assessors. The median home price in the area is $174,700. Homeowners in Colonial Heights typically face a median property tax bill of $2,074, which aligns closely with the national median property tax bill of $2,400. The tax bill can vary significantly, with the 25th percentile at $1,652 and the 75th percentile reaching $2,663, while the top 10% of tax bills soar to $3,311. Homeowners should be aware that these variations can impact their annual financial planning.

Factors influencing property tax bills include changes in the local real estate market and any improvements made to the property. For homeowners seeking to reduce their tax burden, Ownwell offers valuable assistance by providing property tax appeal services. By leveraging expert knowledge and experience, Ownwell can help homeowners contest their assessed values, potentially leading to significant savings on their property tax bills.