Example of New Kent County Property Tax Calculation
In New Kent County, property taxes are calculated by multiplying the assessed value of the property by the tax rate. The assessed value is determined by a county assessor, who evaluates the property based on its size, condition, and location.
For example, if a property in New Kent County has an assessed value of $100,000 and the tax rate is 1%, the property tax would be $1,000. This means that the property owner would be responsible for paying $1,000 in property taxes for that year.
It's important to note that the tax rate can vary depending on where the property is located within the county and what services are provided in that area. Additionally, property taxes are typically due annually and can be paid in full or in installments throughout the year.
Overall, understanding how property taxes are calculated in New Kent County is essential for property owners and can help them plan for their financial responsibilities.
If you want appeal your property tax assessment - contact your local tax assessor.
New Kent County Property Tax Rates
The tax rates for New Kent County are as follows, stated in terms of the rate per $100 of assessed value:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| Real Estate | $0.84 |
| Personal Property | $3.40 |
| Machinery and Tools | $3.40 |
| Mobile Homes | $0.84 |
It is important to note that these rates are subject to change and should be confirmed with the New Kent County Treasurer's office.
Who sets property tax rates in New Kent County ?
The property tax rates in New Kent County, USA are set by the County Board of Supervisors. They typically meet annually during the budget process to review and adjust the tax rates. The County Board of Supervisors is comprised of five members who are elected by the citizens of New Kent County. They are responsible for determining the budget and setting the tax rates for the county. The property tax rates are based on the assessed value of the property and are used to fund various services and programs, such as education, infrastructure, and public safety. It's important to note that property tax rates can vary from county to county, so it's always a good idea to consult with a tax advisor to ensure that you are paying the correct amount of taxes on your property.
Homestead exemptions in New Kent County ?
To help homeowners in New Kent County, Virginia navigate Homestead exemptions and deductions, a table has been created below with all the relevant information.
Homestead Exemptions and Deductions in New Kent County, Virginia
| Exemption/Deduction | Eligibility | Amount | Notes |
|---|---|---|---|
| General Homestead Exemption | All homeowners | $22,500 | Applies to primary residence |
| Disabled Veteran Exemption | Veteran with 100% disability rating | Up to $10,000 | Applies to primary residence |
| Surviving Spouse of a Veteran Exemption | Spouse of a veteran who died in service or from service-related injuries | Up to $10,000 | Applies to primary residence |
| Elderly or Disabled Exemption | Homeowner over 65 or with a disability | Up to $20,000 | Based on income and residency |
| Land Use for Agricultural, Horticultural, Forest or Open Space Exemption | Land used for agricultural, horticultural, forest or open space purposes | Varies | Based on acreage and use |
It is important to note that eligibility and requirements for these exemptions and deductions may change, and homeowners should always consult with the New Kent County Commissioner of the Revenue for the most up-to-date information.
By taking advantage of these exemptions and deductions, homeowners in New Kent County can potentially save thousands of dollars on their property taxes.
When is New Kent County Property Tax due ?
New Kent County Property Tax is typically due on December 5th of each year. There are several payment methods available for taxpayers to choose from, including:
Payment Methods:
| Method | Description |
|---|---|
| Online Payment | Taxpayers can pay their property tax online using a credit or debit card, or directly from their bank account. This is a convenient and secure way to make payments from the comfort of your home or office. |
| Taxpayers can also choose to mail their payment to the New Kent County Treasurer's Office. The payment must be postmarked on or before December 5th to be considered on time. | |
| In Person | For those who prefer to pay in person, the Treasurer's Office is located at 12001 Courthouse Circle, New Kent, VA 23124. The office is open Monday through Friday from 8:00 AM to 4:30 PM. |
| Drop Box | Taxpayers can use the drop box located outside of the Treasurer's Office to drop off their payment after hours. The payment must be dropped off on or before December 5th to be considered on time. |
It is important to note that failure to pay property tax on time can result in penalties and interest charges. Therefore, taxpayers are encouraged to make their payment in a timely manner using one of the available payment methods.
If you have more questions - contact your local tax collector.
How is New Kent County Property Tax penalty calculated ?
New Kent County Property Tax Penalty Calculation
When a property owner fails to pay their property taxes on time, they may be subject to penalties and interest. In New Kent County, Virginia, the penalty is calculated as follows:
- The penalty for late payment is 10% of the tax due.
- Interest accrues at a rate of 10% per annum, calculated from the original due date of the tax.
For example, if a property owner owes $1,000 in property taxes and fails to pay by the due date, they would be subject to a penalty of $100 (10% of $1,000). Additionally, interest would accrue at a rate of 10% per year, or approximately $0.27 per day. If the property owner waited 60 days to pay their taxes, they would owe approximately $1,065.20 ($1,000 + $100 penalty + $0.27 per day interest x 60 days).
It is important for property owners to pay their taxes on time to avoid penalties and interest. If a property owner is unable to pay their taxes in full, they may be eligible for a payment plan or other options. It is recommended that property owners contact the New Kent County Treasurer's Office for more information.
We recommend contacting the New Kent County Tax Office or a local tax professional for the most up-to-date and accurate information.