Giles County Property Tax Rates
Here is a formatted table listing the Giles County Property Tax rates:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| Real Estate | $0.85 |
| Personal Property | $2.60 |
| Machinery & Tools | $1.50 |
| Mobile Homes | $0.85 |
| Business Tangible | $2.60 |
Please note that these rates are subject to change and may vary based on the specific location and property details within Giles County, Virginia. It is recommended to consult with a licensed tax advisor for personalized tax advice.
Example of Giles County Property Tax Calculation
Calculating Giles County Property Tax is a simple process. The tax rate in Giles County is set at $0.63 per $100 of assessed property value. To determine the property tax, follow these steps:
Step 1: Determine the assessed value of the property. This is the value assigned to the property by the Giles County Assessor's Office.
Step 2: Divide the assessed value by 100.
Step 3: Multiply the result from step 2 by the tax rate of $0.63.
Step 4: This final number is the property tax owed for the year.
For example, if a property is assessed at $100,000, the property tax calculation would be:
Step 1: Assessed value of $100,000.
Step 2: $100,000 / 100 = 1,000.
Step 3: 1,000 x $0.63 = $630.
Step 4: The property tax owed for the year is $630.
If you want appeal your property tax assessment - contact your local tax assessor.
Who sets property tax rates in Giles County ?
Who sets property tax rates in Giles County?
The Giles County Board of Supervisors sets property tax rates in Giles County.
When are property tax rates set in Giles County?
Property tax rates in Giles County are typically set annually in June. The county's fiscal year runs from July 1 to June 30.
| Who sets property tax rates in Giles County? | The Giles County Board of Supervisors |
|---|---|
| When are property tax rates set in Giles County? | Annually in June |
It is important to note that property tax rates may be subject to change based on various factors such as changes in property values and county budget needs. Property owners in Giles County can contact the county treasurer's office for more information on their property tax rates.
Homestead exemptions in Giles County ?
In Giles County, Virginia, there are several Homestead exemptions and deductions available for homeowners. Here's a table that outlines these benefits:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Elderly or Disabled | At least 65 years old or permanently disabled | $5000 | Must have lived in the home for at least 5 consecutive years |
| Military Veterans | Honorably discharged veterans or surviving spouses | $10,000 | Must have lived in the home for at least 5 consecutive years |
| Disabled Veterans | Disabled veterans or surviving spouses | Full exemption | Must have lived in the home for at least 5 consecutive years |
| Land Preservation | Land that is used for farming or forestry | Varies | Must apply for this exemption with the county assessor |
It's important to note that each exemption and deduction has its own specific eligibility requirements and application process. Homeowners in Giles County should contact the county assessor's office for more information and to apply for these benefits.
By taking advantage of these Homestead exemptions and deductions, homeowners in Giles County can save money on their property taxes and potentially lower their overall cost of living.
When is Giles County Property Tax due ?
Giles County Property Tax is typically due on October 1st of each year. There are several payment methods available to taxpayers in Giles County, including:
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In person: Property owners can pay their taxes in person at the Giles County Treasurer's Office located at 315 North Main Street in Pearisburg, VA. The office is open Monday through Friday from 8:30 a.m. to 4:30 p.m.
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By mail: Payments can be mailed to the Giles County Treasurer's Office at P.O. Box 217, Pearisburg, VA 24134. The payment must be postmarked by October 1st to avoid penalties.
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Online: Property owners can pay their taxes online through the Giles County Treasurer's website. The website accepts electronic check payments and credit card payments (with a 2.5% convenience fee).
It is important to note that if the tax bill is not paid by the due date, penalties and interest will be added to the amount owed. Additionally, failure to pay property taxes can result in tax liens, which give the county the right to seize and sell the property to satisfy the unpaid taxes. Therefore, it is crucial for property owners to make timely payments and ensure that their taxes are up-to-date.
If you have more questions - contact your local tax collector.
How is Giles County Property Tax penalty calculated ?
Giles County calculates property tax penalties based on a set formula. The penalty is applied to any unpaid taxes after the due date, which is typically February 28th of each year.
The formula used to calculate the penalty is as follows:
First 30 days past due: 1.5% penalty Each additional month past due: 1% penalty
For example, if a property owner owes $2,000 in property taxes and misses the February 28th deadline, they would be charged a penalty of $30 (1.5% of $2,000) for the first 30 days past due. If the taxes remain unpaid for an additional three months, the penalty would increase to $90 (3 months x 1% penalty x $2,000).
It's important to note that the penalty is based on the total amount owed, including any interest that has accrued. In addition, if the taxes remain unpaid for an extended period of time, the county may choose to pursue legal action to collect the debt.
It's always recommended that property owners pay their taxes on time to avoid any unnecessary penalties or legal issues. If you have questions about Giles County property taxes or penalties, you can contact the county treasurer's office for more information.
We recommend contacting the Giles County Tax Office or a local tax professional for the most up-to-date and accurate information.