Meadows Of Dan, Patrick County, Virginia Property Taxes
Median Meadows of Dan, VA effective property tax rate: 0.73%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%. Median Meadows of Dan, VA home value: $101,800. Median annual Meadows of Dan, VA tax bill: $743, $1,657 lower than the national median property tax bill of $2,400.
How are property taxes in Patrick County calculated?
Property taxes in Meadows of Dan, VA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Meadows of Dan’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Meadows of Dan, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Meadows Of Dan, Patrick County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.73%
Estimate Property Tax Bill
$734
$681
Property Tax Rates Across Meadows Of Dan, Patrick County, Virginia
Local government entities set tax rates, which can vary widely within a state. The annual process involves each county estimating its required budget to provide services and dividing 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.
Meadows of Dan in Patrick County, Virginia, has an effective property tax rate that can be compared to other cities in Virginia and the median property tax rates in Virginia and the U.S. The property tax rate in Meadows of Dan reflects the county’s budgetary needs and the value of taxable property in the area. This rate is crucial for funding local services and infrastructure. Comparing this rate to the national median property tax rate of 1.02% and a national median property tax bill of $2400, property owners can gauge how their local taxes measure up. Understanding these comparisons can help property owners in Meadows of Dan make informed decisions about appealing property taxes or seeking exemptions.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Meadows Of Dan Tax Rate
0.73%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Patrick County Tax Rate
0.73%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Meadows Of Dan, Patrick County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24120 | 0.73% | 0.73% | 0.73% | 0.73% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Meadows Of Dan, Patrick County, Virginia
When examining property taxes in Meadows of Dan, Virginia, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Patrick County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Patrick County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Meadows of Dan. For example, the median home price in Meadows of Dan is $101,800, with tax bills ranging significantly across the county. Zip code 24120 has the highest median home price at $101,800.
Property Tax Assessment Values Across Meadows Of Dan, Patrick County, Virginia
Source: Ownwell
$56,300
$95,425
$134,550
Median Meadows Of Dan Market Value
$100,550
Median Patrick County Market Value
$79,700
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Meadows Of Dan, Patrick County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24120 | $26,790 | $57,225 | $100,550 | $150,975 | $240,430 |
Source: Ownwell
Property Tax Bills Across Meadows Of Dan, Patrick County, Virginia
Median Meadows Of Dan Tax Bill
$734
Median Patrick County Tax Bill
$582
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Meadows Of Dan, Patrick County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24120 | $196 | $418 | $734 | $1,102 | $1,755 |
Source: Ownwell