school taxes and others in virginia (Richmond, Chester: houses, calculation, subdivision)

[Amerikrainian]

As a disabled veteran, Pennsylvania provides me with a total property tax exemption on my house. We are looking into moving to VA at some point, because it's quieter and more affordable overall (i think).

My question is about school taxes. Are they part of the property taxes? or are they billed separately? When I look for houses on Century21, they show the annual property taxes, usually around $1200-1400. But should I be including some other taxes in my calculations too?

Thanks.

[sls76]

Here are the taxes I pay:

Property (< 0.9% of assessed value in Henrico)
Personal Property (vehicle tax)
Sales
Income

There is not a separate school tax. It is included in the property tax.

[Amerikrainian]

Thanks. Seems like Henrico might have higher taxes than chesterfield. I was looking at $200k homes in Chesterfield, and most has taxes around $1400 or less, a little more ($1800) in Richmond city.

[sls76]

I think the tax rate is actually higher in Richmond and Chesterfield than in Henrico. But how they assess value (meaning how close to market value) I'm not sure. I know even within my subdivision there are huge discrepencies in how close the county is to market value (my current house is assessed at about 80% of market value so my effective tax rate is closer to 0.7% while the house I just sold was closer to 98% of market value). Also, property values have fallen for the past six years or so and the taxes have fallen. Values are starting to rise so I think we all should expect tax bills to go up.

[Pruzhany]

Originally Posted by sls76

... Also, property values have fallen for the past six years or so and the taxes have fallen. Values are starting to rise so I think we all should expect tax bills to go up.

But each county has been adjusting the rates (depending on if they are on a 1 or 2 year assessment cycle) so taxes on homes have seen little change in the below $500k segment.

[sls76]

Originally Posted by Pruzhany

But each county has been adjusting the rates (depending on if they are on a 1 or 2 year assessment cycle) so taxes on homes have seen little change in the below $500k segment.

That is not the case--at least not in Henrico. The rate has not changed. Property taxes have fallen--including on homes worth < $500K. Go to zillow and look at the property tax history.

As an example, my house (market value in the low $300s) had property taxes of $2900 in 2010 and $2400 in 2011 and 2012. This is pretty common in Henrico County.

[Pruzhany]

Originally Posted by sls76

That is not the case--at least not in Henrico. The rate has not changed. Property taxes have fallen--including on homes worth < $500K. Go to zillow and look at the property tax history.

As an example, my house (market value in the low $300s) had property taxes of $2900 in 2010 and $2400 in 2011 and 2012. This is pretty common in Henrico County.

Yet mine, west of you, sitting on 10 acres has fluctuated in the $1800-$2000 range. Henrico puts very little restriction on subdivision growth so it continually allows anything to be built on some plots that are barely larger than the homes. Thus no rate change and higher taxes than most other counties surrounding it (Chesterfield comes in at a close second).

If the OP wants lower taxes then they should look at Goochland or Powhatan.

[Amerikrainian]

Goochland and Powhatan are more rural than I can bear.

[Pruzhany]

Originally Posted by Amerikrainian

Thanks. Seems like Henrico might have higher taxes than chesterfield. I was looking at $200k homes in Chesterfield, and most has taxes around $1400 or less, a little more ($1800) in Richmond city.

You have to be careful as to where the homes are within the same county. Similar homes may have the same value but the land it sitting on may be drastically different from one part of the county to another.

[Pruzhany]

Originally Posted by Amerikrainian

Goochland and Powhatan are more rural than I can bear.

What do you consider rural?