Example of James City County Property Tax Calculation
James City County calculates property tax based on the assessed value of the property. For example, if a property is assessed at $100,000, and the tax rate is $0.85 per $100 of assessed value, the property tax would be $850 ($100,000 divided by 100, multiplied by $0.85). This calculated property tax amount is then used to fund county services such as schools, police, and infrastructure. James City County property taxes are typically due twice a year, in June and December. It is important for homeowners to keep up with their property tax payments to avoid penalties and interest.
If you want appeal your property tax assessment - contact your local tax assessor.
James City County Property Tax Rates
The following is a table of James City County Property Tax rates:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| Real Estate | $0.86 |
| Personal | $4.00 |
| Machinery | $4.00 |
As of 2021, the real estate tax rate in James City County is $0.86 per $100 of assessed value. The rate for personal property and machinery is $4.00 per $100 of assessed value. These rates are subject to change each year and may vary depending on the specific property in question.
Who sets property tax rates in James City County ?
Who sets property tax rates in James City County?
The James City County Board of Supervisors is responsible for setting property tax rates in the county.
When are property tax rates set in James City County?
Property tax rates are typically set annually during the county's budgeting process, which occurs in the spring. The adopted budget, which includes the property tax rates, goes into effect on July 1st of each year.
| Who sets property tax rates? | James City County Board of Supervisors |
|---|---|
| When are property tax rates set? | Annually during the county's budgeting process in the spring |
| When do property tax rates go into effect? | July 1st of each year |
Homestead exemptions in James City County ?
In James City County, Virginia, there are several Homestead exemptions and deductions available to eligible residents. Here are the details of each exemption and deduction to help you better understand your eligibility and potential savings:
Homestead Exemptions
| Exemption Name | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | Any homeowner | Up to $25,000 | Applied to assessed value of the primary residence |
| Elderly or Disabled Homestead Exemption | Homeowner who is 65 or older or has a permanent disability | Up to $50,000 | Applied to assessed value of the primary residence |
| Disabled Veteran Homestead Exemption | Disabled veteran with a 100% service-connected disability rating | Up to $10,000 | Applied to assessed value of the primary residence |
| Surviving Spouse of a Veteran Homestead Exemption | Surviving spouse of a veteran who died in service or as a result of service-connected injuries | Up to $10,000 | Applied to assessed value of the primary residence |
Deductions
| Deduction Name | Eligibility | Amount | Notes |
|---|---|---|---|
| Disabled Veterans Tax Relief | Disabled veteran with a 100% service-connected disability rating | Up to $10,000 | Applied to assessed value of the primary residence |
| Surviving Spouse of a Veteran Tax Relief | Surviving spouse of a veteran who died in service or as a result of service-connected injuries | Up to $10,000 | Applied to assessed value of the primary residence |
| Personal Property Tax Relief for Seniors and Disabled | Homeowner who is 65 or older or has a permanent disability | Varies based on income and other factors | Applied to personal property owned and taxed by the county |
It's important to note that eligibility requirements and amounts may vary based on individual circumstances. To apply for any of these exemptions or deductions, residents should contact the James City County Commissioner of the Revenue.
When is James City County Property Tax due ?
James City County Property Tax is typically due on December 5 of each year. However, if the due date falls on a weekend or holiday, the deadline is extended to the next business day.
There are several payment methods available for property taxes in James City County:
| Payment Method | Description |
|---|---|
| Online Payment | Property owners can pay their taxes online using a credit/debit card or e-check on the county's website. |
| Property owners can mail in their payment to James City County Treasurer's Office. | |
| In-Person | Property owners can pay in person at the James City County Treasurer's Office or at one of several satellite locations throughout the county. |
| Installment Plan | Property owners can enroll in an installment plan that allows them to pay their taxes in four equal installments over the course of the year. |
It is important to note that if property taxes are not paid by the due date, late fees and interest will accrue. Therefore, property owners should ensure that they submit their payments on time to avoid any additional charges.
If you have more questions - contact your local tax collector.
How is James City County Property Tax penalty calculated ?
James City County Property Tax Penalty Calculation
When a property owner fails to pay their property taxes on time, James City County imposes a penalty on the outstanding balance. The penalty is calculated as a percentage of the unpaid balance, and it increases over time as the amount remains unpaid.
Here's an example to illustrate how the penalty is calculated:
Assume that John owns a house in James City County, and his property tax bill for the year is $2,000. The deadline for payment is June 30th, and John fails to pay the amount by that date.
On July 1st, a penalty of 10% of the unpaid balance is added to John's account. Since he didn't pay anything, the penalty is calculated on the entire amount of $2,000. The penalty amount is $200, which brings John's total balance owed to $2,200.
If John still doesn't pay by August 1st, an additional penalty of 10% will be added to the new balance of $2,200, which is $220. John's total balance will then be $2,420.
The penalty continues to increase by 10% every month until the balance is paid in full. If John eventually pays off the balance in October, he will have to pay a penalty of $400, which is equal to 20% of the original balance of $2,000.
James City County Property Tax Penalty Rates
The penalty rates for late payment of property taxes in James City County are as follows:
| Month of Payment | Penalty Rate |
|---|---|
| July | 10% |
| August | 20% |
| September | 30% |
| October | 40% |
| November | 50% |
| December | 60% |
| January | 70% |
| February | 80% |
| March | 90% |
| April | 100% |
It's important for property owners in James City County to pay their property taxes on time to avoid incurring penalties, which can add up quickly. If you are unable to pay your property taxes by the deadline, you should contact the James City County Treasurer's office as soon as possible to discuss your options.
We recommend contacting the James City County Tax Office or a local tax professional for the most up-to-date and accurate information.