Property Tax Lawyers in Abingdon
Laws of Abingdon, Virginia require all property owners to pay a tax on the value of their property. Property taxes exclusively apply to real property (as opposed to personal property). This encompasses land, buildings, and assets that are permanently or semi-permanently fixed to the land.
The property tax in Abingdon, Virginia is simply a percentage of a piece of property's appraised value, paid to the state and/or local government on a periodic - usually annual - basis.
How Property Tax is Calculated in Abingdon, Virginia
Usually, Abingdon, Virginia property taxes are decided as a percentage of the property's value. Tax rates differentiate widely, but they typically run from less than 1% up to about 5%.
In order to impose this tax, the government of Abingdon, Virginia initially has to decide the taxable value of a piece of property.
Value, in some ways, is not an objective thing. For instance, your childhood home is likely worth much more to you than its simple market value. Nonetheless, the tax authorities use only objective factors in calculating a home's taxable value.
To this end, the Abingdon, Virginia appraiser will look at things like the state of the real estate market, the size of the land, the existence of additions to the land such as buildings, and the way in which the property is zoned.
How A Abingdon, Virginia Property Tax Attorney Can Help.
The system of levying property taxes in Abingdon, Virginia can get very perplexing. Disagreements about property taxes, between the taxpayer and the tax authorities, can come up in several different ways. A taxpayer may believe that an error was made in calculating their property's taxable value, resulting in bigger tax bill. Also, the state or city government might allege that you have failed to pay your property taxes, while you believe that you have.
If one of these issues affects you and your property in Abingdon, Virginia, you should make every effort to correctly handle it. This can keep small issues from growing into large ones. The best way to do this is to seek the advice of a reputable Abingdon, Virginia tax attorney who concentrates in property tax law.