Maxie, Buchanan County, Virginia Property Taxes
Median MAXIE, VA effective property tax rate: 0.39%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median MAXIE, VA home value: $24,800
Median annual MAXIE, VA tax bill: $97, $2,303 lower than the national median property tax bill of $2,400.
How are property taxes in Buchanan calculated?
Property taxes in MAXIE, 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 MAXIE’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in MAXIE, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Maxie, Buchanan County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.39%
Estimate Property Tax Bill
$122
$113
Property Tax Rates Across Maxie, Buchanan County, Virginia
Local government entities in Virginia set property tax rates, which can vary widely within the state. Each year, counties like Buchanan estimate their required budget to provide essential services. This budget is then divided by the total assessed value of all taxable properties within the jurisdiction, resulting in the property tax rate. While the process involves votes and laws, this calculation is the core of how property tax rates are determined annually.
In Maxie, located in Buchanan County, the effective property tax rate provides an interesting comparison to other cities in Virginia and the national averages. Virginia's median property tax rate is notably lower than the national median of 1.02%. This makes it important for property owners in Maxie to understand how their local tax rate compares, as it can significantly impact their annual tax bills. By staying informed about these rates, homeowners can make more strategic decisions regarding property tax appeals and exemptions, potentially leading to considerable savings.
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 Maxie Tax Rate
0.39%
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 Buchanan County Tax Rate
0.39%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Maxie, Buchanan County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24628 | 0.39% | 0.39% | 0.39% | 0.39% | 0.39% |
Source: Ownwell
Property Tax Assessment Values Across Maxie, Buchanan County, Virginia
When examining property taxes in Maxie, 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 Buchanan 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 Buchanan 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 Maxie.
For example, the median home price in Maxie is $24,800, with tax bills ranging significantly across the county. Zip code 24628 has the highest median home price at $24,800.
Property Tax Assessment Values Across Maxie, Buchanan County, Virginia
Source: Ownwell
$31,350
$42,075
$52,800
Median Maxie Market Value
$31,350
Median Buchanan County Market Value
$47,800
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Maxie, Buchanan County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24628 | $9,120 | $21,925 | $31,350 | $42,800 | $60,050 |
Source: Ownwell
Property Tax Bills Across Maxie, Buchanan County, Virginia
In Maxie, Buchanan County, VA, property tax bills are calculated based on the assessed value of a home. The local tax rate is applied to this assessed value, which is determined by the county assessor. With a median home price of $24,800, homeowners in Maxie often face property tax bills that can vary widely depending on the assessed value of their property. For instance, the 25th percentile tax bill is around $57, while the 75th percentile reaches $163, and the 90th percentile climbs to $227. These figures illustrate the potential financial burden on homeowners, especially when compared to the national median property tax bill of $2,400.
Ownwell assists homeowners by offering property tax appeal and exemption services, potentially reducing their tax liabilities. By analyzing the assessed value and identifying discrepancies or opportunities for exemptions, Ownwell can help homeowners in Maxie lower their tax bills, ensuring they only pay what is fair. This service can be invaluable in managing and reducing the financial impact of property taxes on homeowners' budgets.
Median Maxie Tax Bill
$122
Median Buchanan County Tax Bill
$186
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Maxie, Buchanan County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24628 | $36 | $86 | $122 | $167 | $234 |
Source: Ownwell