Williamsburg City property tax

Example of Williamsburg City Property Tax Calculation

Williamsburg City calculates the property tax based on the assessed value of the property. The assessed value is determined by the city's assessor, who takes into account factors such as the property's location, size, and condition.

To calculate the property tax, Williamsburg City uses a tax rate of $0.77 per $100 of assessed value. For example, if a property's assessed value is $100,000, the property tax would be calculated as follows:

$100,000 / 100 = $1,000 (taxable value) $1,000 x 0.77 = $770 (property tax)

Therefore, the property owner would owe $770 in property tax to Williamsburg City for the year.

It's important to note that Williamsburg City also offers exemptions and credits for certain types of property owners, such as seniors and veterans. These can help to reduce the amount of property tax owed.

Overall, understanding how property tax is calculated in Williamsburg City can help property owners better plan and budget for their expenses.

If you want appeal your property tax assessment - contact your local tax assessor.

Williamsburg City Property Tax Rates

Here is a formatted table listing the Williamsburg City Property Tax rates in US dollars per $100 of assessed value:

Note: These rates are for the 2021 fiscal year and are subject to change in future years.

Who sets property tax rates in Williamsburg City ?

The property tax rates in Williamsburg City are set by the City Council. The City Council is made up of elected officials who are responsible for making decisions that affect the city and its residents. The property tax rate is set annually during a public meeting where city officials discuss and approve the budget for the upcoming year. The property tax rate is determined based on the assessed value of the property and is used to fund various city services such as schools, police and fire departments, and public works projects. Property owners in Williamsburg City are required to pay property taxes annually, and failure to do so may result in penalties or legal action.

Homestead exemptions in Williamsburg City ?

To help homeowners in Williamsburg City, Virginia understand the various Homestead exemptions and deductions available to them, the blogger has created a table with four columns:

Here are the Homestead exemptions and deductions available in Williamsburg City:

Exemption: Real Property Tax Relief for the Elderly and Disabled

• Eligibility: Must be 65 years or older, or permanently and totally disabled
• Amount: Up to 50% reduction on real estate taxes
• Notes: Maximum income limits apply

Exemption: Veterans or Surviving Spouses of Veterans

• Eligibility: Must be a veteran who served during a period of war, a surviving spouse of a veteran who died on active duty, or a surviving spouse of a veteran who qualified for and was receiving permanent and total disability benefits.
• Amount: Up to $10,000 reduction on assessed value of residential property
• Notes: Must provide proof of eligibility

Exemption: Disabled Veterans

• Eligibility: Must have a service-connected disability rating of 100%
• Amount: Exemption from real estate taxes on primary residence and up to one acre of land
• Notes: Must provide proof of eligibility

Exemption: Surviving Spouses of Law Enforcement Officers, Firefighters, and Emergency Medical Technicians

• Eligibility: Must be the surviving spouse of a law enforcement officer, firefighter, or emergency medical technician who died in the line of duty
• Amount: Full exemption from real estate taxes on primary residence
• Notes: Must provide proof of eligibility

Deduction: Homestead Exemption

• Eligibility: Must be the primary resident of the property
• Amount: $20,000 deduction on assessed value of residential property
• Notes: No income or age limits apply

Homeowners in Williamsburg City should carefully review the eligibility requirements and application process for each exemption and deduction to determine which ones they may qualify for and how to apply.

When is Williamsburg City Property Tax due ?

Williamsburg City Property Tax is typically due on December 5th of each year. However, if December 5th falls on a weekend or holiday, the due date will be extended to the next business day.

There are several payment methods available for Williamsburg City Property Tax:

It is important to note that failure to pay property taxes by the due date may result in penalties and interest. Therefore, it is recommended to make payments on time to avoid any additional fees.

If you have more questions - contact your local tax collector.

How is Williamsburg City Property Tax penalty calculated ?

The penalty for Williamsburg City Property Tax is calculated based on the amount of taxes owed and the number of days the payment is overdue. This penalty is applied at a rate of 10% per year or 0.833% per month of the unpaid tax.

For example, if a property owner owes $1,000 in property taxes and the payment is 60 days overdue, the penalty would be calculated as follows:

• 60 days overdue / 30 days in a month = 2 months overdue
• 2 months x 0.833% per month = 1.666% penalty
• $1,000 x 1.666% penalty = $16.66 penalty

Therefore, the property owner would owe a total of $1,016.66 ($1,000 in taxes + $16.66 penalty).

It is important for property owners to pay their taxes on time to avoid unnecessary penalty fees. They can also contact the Williamsburg City Treasurer's Office for information on payment options and deadlines.

We recommend contacting the Williamsburg City Tax Office or a local tax professional for the most up-to-date and accurate information.

Williamsburg City tax offices:

• Williamsburg City tax assessor
• Williamsburg City tax collector
• Williamsburg City tax commissioner
• Williamsburg City tax appraiser
• Williamsburg City tag office