Hot Springs, Bath County, Virginia Property Taxes

Name: Property Tax Bills Across Hot Springs, Bath County, Virginia
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median HOT SPRINGS, VA effective property tax rate: 0.60%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median HOT SPRINGS, VA home value: $142,550
Median annual HOT SPRINGS, VA tax bill: $848, $1,552 lower than the national median property tax bill of $2,400.

How are property taxes in Bath County calculated?

Property taxes in HOT SPRINGS, 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 HOT SPRINGS’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in HOT SPRINGS, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Hot Springs, Bath County, Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.6%

Estimate Property Tax Bill

$857

$796

Ownwell’s HOT SPRINGS Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in HOT SPRINGS with just two data points. By entering your property's estimated assessed value, our calculator applies HOT SPRINGS’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Bath. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Hot Springs, Bath County, Virginia

Local government entities are responsible for setting tax rates, which can vary significantly within a state. This variation occurs because each county annually estimates its budgetary needs to fund essential services and divides this amount by the total assessed value of all taxable property within its jurisdiction. This calculation determines the property tax rate for that year. While votes and legislation play a role in establishing these rates and budgets, the process can be summarized in this way.

In Hot Springs, Virginia, the effective property tax rate reflects this annual calculation. It is useful to compare Hot Springs' rate with other cities in Virginia and the national median property tax rates. Virginia’s median property tax rate is notably lower than the national median of 1.02%. Residents of Hot Springs benefit from this lower rate, which can result in significant savings compared to other regions in the United States. Understanding these differences can help property owners make informed decisions about where to live and invest, considering the impact of property taxes on overall expenses.

Property Tax Rates Across Hot Springs, Bath County, Virginia

Source: Ownwell

0.60%

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 Hot Springs Tax Rate

0.60%

Median Effective Bath County Tax Rate

0.60%

Median Effective Virginia Tax Rate

0.90%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Hot Springs, Bath County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
24445	0.60%	0.60%	0.60%	0.60%	0.60%

Source: Ownwell

Property Tax Assessment Values Across Hot Springs, Bath County, Virginia

When examining property taxes in Hot Springs, 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 Bath 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 Bath 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 Hot Springs.

For example, the median home price in Hot Springs is $142,550, with tax bills ranging significantly across the county. The zip code 24445 has the highest median home price at $142,550.

Property Tax Assessment Values Across Hot Springs, Bath County, Virginia

Source: Ownwell

$101,900

$147,350

$192,800

Median Hot Springs Market Value

$142,900

Median Bath County Market Value

$145,800

Median Virginia Market Value

$323,500

Median United States Market Value

$235,294

Property Tax Assessment Values Across Hot Springs, Bath County, Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
24445	$66,690	$98,475	$142,900	$274,250	$587,180

Source: Ownwell

Property Tax Bills Across Hot Springs, Bath County, Virginia

In Hot Springs, VA, property tax bills are calculated based on the assessed value of a home and the local tax rate. With the median home price at $142,550, the property tax bill varies significantly across homeowners. For instance, the tax bill for the 25th percentile is $581, while the 75th percentile sees a bill of $1,622. The 90th percentile can reach as high as $3,282. These figures highlight the variability in property taxes within the region, which can be influenced by factors such as property size, location, and improvements. Compared to the national median property tax bill of $2,400, homeowners in Hot Springs may experience lower tax bills, but there is still potential for savings. Ownwell can assist homeowners by providing expert property tax appeal services. By analyzing property assessments and identifying discrepancies, Ownwell helps ensure homeowners are not overpaying on their taxes, potentially leading to significant savings on their annual tax bills.

Property Tax Bills Across Hot Springs, Bath County, Virginia

Source: Ownwell

$611

$855

$1,099

Median Hot Springs Tax Bill

$855

Median Bath County Tax Bill

$868

Median Virginia Tax Bill

$2,852

Median United States Tax Bill

$2,400

Property Tax Bills Across Hot Springs, Bath County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
24445	$399	$585	$855	$1,644	$3,393

Source: Ownwell