Mineral, Goochland County, Virginia Property Taxes
Median Mineral, VA effective property tax rate: 0.53%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Mineral, VA home value: $254,600
Median annual Mineral, VA tax bill: $1,330, $1,070 lower than the national median property tax bill of $2,400.
How are property taxes in Goochland calculated?
Property taxes in Mineral, 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 Mineral’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Mineral, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Mineral, Goochland County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.53%
Estimate Property Tax Bill
$1,390
$1,290
Property Tax Rates Across Mineral, Goochland County, Virginia
Local government entities determine tax rates, which can differ significantly within a state. This variation stems from each county's annual process of estimating its required budget to provide essential services. The budget is then divided by the total value of all taxable property within the county's jurisdiction, resulting in the property tax rate. While the establishment of tax rates and budgets involves votes and legislative measures, this is essentially how the system functions each year.
In Mineral, located in Louisa County, Virginia, the effective property tax rate offers an interesting perspective when compared to other cities in the state and across the nation. Virginia's median property tax rate is notably lower than the national median of 1.02%, reflecting a more favorable tax environment for property owners. This can be particularly appealing for homeowners seeking to optimize their property investments. Comparing Mineral's tax rate to the national and state averages highlights the diversity in tax burdens and can guide property owners in making informed decisions. Understanding these differences is crucial for property owners aiming to manage their tax liabilities effectively.
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 Mineral Tax Rate
0.53%
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 Goochland County Tax Rate
0.53%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Mineral, Goochland County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23117 | 0.45% | 0.53% | 0.53% | 0.53% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Mineral, Goochland County, Virginia
When examining property taxes in Mineral, 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 Goochland 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 Goochland County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 Mineral.
For example, the median home price in Mineral is $254,600, with tax bills ranging significantly across the county. Zip code 23117 has the highest median home price at $254,600.
Property Tax Assessment Values Across Mineral, Goochland County, Virginia
Source: Ownwell
$260,250
$554,950
$849,650
Median Mineral Market Value
$262,300
Median Goochland County Market Value
$484,200
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Mineral, Goochland County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23117 | $83,500 | $187,800 | $262,300 | $363,400 | $540,300 |
Source: Ownwell
Property Tax Bills Across Mineral, Goochland County, Virginia
In Mineral, located in Goochland County, VA, property tax bills are calculated based on the assessed value of a property. This assessed value is determined by local tax assessors and reflects the market value of the home. The tax rate is then applied to this assessed value to determine the annual tax bill. In Mineral, the median property tax bill is $1,330, which is significantly lower than the national median of $2,400. However, tax bills can vary widely, with the 25th percentile at $888 and the 90th percentile reaching $2,751. These variations are influenced by factors such as property location, size, and improvements.
For homeowners in Mineral, these property taxes can be a substantial expense. That's where Ownwell steps in. By leveraging expertise in property tax appeals and exemptions, Ownwell helps homeowners ensure their property is not over-assessed, potentially reducing their tax burden. With a focus on maximizing savings, Ownwell provides valuable support to homeowners looking to manage their property tax bills effectively.
Median Mineral Tax Bill
$1,361
Median Goochland County Tax Bill
$2,439
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Mineral, Goochland County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23117 | $425 | $894 | $1,361 | $1,921 | $2,785 |
Source: Ownwell