Nickelsville, Russell County, Virginia Property Taxes
Median Nickelsville, VA effective property tax rate: 0.63%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Nickelsville, VA home value: $95,850
Median annual Nickelsville, VA tax bill: $604, $1,796 lower than the national median property tax bill of $2,400.
How are property taxes in Russell County calculated?
Property taxes in Nickelsville, 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 Nickelsville’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Nickelsville, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Nickelsville, Russell County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.63%
Estimate Property Tax Bill
$604
$560
Property Tax Rates Across Nickelsville, Russell County, Virginia
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 Nickelsville Tax Rate
0.63%
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 Russell County Tax Rate
0.63%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Nickelsville, Russell County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24271 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Nickelsville, Russell County, Virginia
When examining property taxes in Nickelsville, VA, 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 Russell 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 Russell County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Nickelsville.
For example, the median home price in Nickelsville is $95,850, with tax bills ranging significantly across the county. The zip code 24271 has the highest median home price at $95,850.
Property Tax Assessment Values Across Nickelsville, Russell County, Virginia
Source: Ownwell
$20,600
$78,750
$136,900
Median Nickelsville Market Value
$95,850
Median Russell County Market Value
$78,950
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Nickelsville, Russell County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24271 | $46,110 | $64,300 | $95,850 | $126,725 | $229,060 |
Source: Ownwell
Property Tax Bills Across Nickelsville, Russell County, Virginia
In Nickelsville, VA, property tax bills are determined by assessing the value of a home and applying the local tax rate. With a median home price of $95,850, homeowners often find their tax bills vary significantly. The 25th percentile tax bill is $405, while the 75th percentile reaches $798, and the 90th percentile can soar to $1,443. This range illustrates the impact of home value assessments and local tax rates on individual tax bills. Compared to the national median property tax bill of $2,400, Nickelsville's tax bills are relatively lower, offering some relief to homeowners. However, any potential savings can be undermined if a property's assessed value is higher than its market value.
Ownwell assists homeowners in Nickelsville by identifying opportunities to appeal assessments and secure exemptions, potentially reducing their tax burden. By leveraging expert knowledge and a proven track record, Ownwell can help ensure that homeowners pay only their fair share, offering peace of mind and financial savings in the often complex world of property taxes.
Median Nickelsville Tax Bill
$604
Median Russell County Tax Bill
$497
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Nickelsville, Russell County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24271 | $290 | $405 | $604 | $798 | $1,443 |
Source: Ownwell