Mc Dowell, Highland County, Virginia Property Taxes
Median MC DOWELL, VA effective property tax rate: 0.48%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median MC DOWELL, VA home value: $179,800
Median annual MC DOWELL, VA tax bill: $863, $1,537 lower than the national median property tax bill of $2,400.
How are property taxes in Highland calculated?
Property taxes in MC DOWELL, 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 MC DOWELL’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in MC DOWELL, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Mc Dowell, Highland County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.44%
Estimate Property Tax Bill
$1,023
$949
Property Tax Rates Across Mc Dowell, Highland County, Virginia
Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides 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. Below, you can compare Mc Dowell's effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S.
In Mc Dowell, located in Highland County, the property tax rate is notably lower than both the state and national medians. With a median property tax rate of 0.48%, it stands out as one of the most affordable in the state. In comparison, the national median property tax rate is 1.02%, making Mc Dowell an attractive option for property owners seeking lower tax obligations. This low rate is consistent across Highland County, offering a unique advantage for residents. By understanding these differences, property owners can make informed decisions and potentially save on their annual tax bills.
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 Mc Dowell Tax Rate
0.44%
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 Highland County Tax Rate
0.44%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Mc Dowell, Highland County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24458 | 0.44% | 0.44% | 0.44% | 0.44% | 0.44% |
Source: Ownwell
Property Tax Assessment Values Across Mc Dowell, Highland County, Virginia
When examining property taxes in MC DOWELL, 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 Highland 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 Highland 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 MC DOWELL.
For example, the median home price in MC DOWELL is $179,800, with tax bills ranging significantly across the county. 24458 has the highest median home price at $179,800.
Property Tax Assessment Values Across Mc Dowell, Highland County, Virginia
Source: Ownwell
$170,100
$201,275
$232,450
Median Mc Dowell Market Value
$232,450
Median Highland County Market Value
$214,000
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Mc Dowell, Highland County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24458 | $70,710 | $128,250 | $232,450 | $408,250 | $707,160 |
Source: Ownwell
Property Tax Bills Across Mc Dowell, Highland County, Virginia
In Mc Dowell, VA, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. The assessed value is a percentage of the market value, determined by the local assessor's office. Factors such as location, size, and property improvements influence this value. In Highland County, where Mc Dowell is located, the median property tax bill is $863. This is significantly lower than the national median property tax bill of $2,400, providing a more affordable option for homeowners. However, tax bills can vary widely, with some homeowners in the area paying as much as $2,844.
For homeowners looking to reduce their property tax bills, Ownwell offers valuable services. By analyzing the assessed value and ensuring it accurately reflects the market value, Ownwell can help identify potential savings. Our team of experts can assist in filing appeals and securing exemptions, ensuring that homeowners in Mc Dowell pay only their fair share of property taxes.
Median Mc Dowell Tax Bill
$1,023
Median Highland County Tax Bill
$943
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Mc Dowell, Highland County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24458 | $311 | $564 | $1,023 | $1,796 | $3,112 |
Source: Ownwell