Botetourt County Real Estate and Livability Trends
Botetourt County, Virginia has seen a notable rise in average taxable income, from $61,715.50 in 2013 to $82,429.36 in 2021, with a significant jump between 2017 and 2018. Median home values surged from $208,500 in 2015 to $264,200 in 2022, although still trailing the state average of $339,800. The unpredictability of energy tax credits, peaking at $2,520.00 in 2018, and the rise in real estate... Read more
Botetourt County Market Trends
Botetourt County, Virginia's median home values surged from $208,500 in 2015 to $264,200 in 2022, trailing behind the state average of $339,800. The energy tax credits in the county have been unpredictable, peaking at $2,520.00 in 2018 but remaining well above earlier years at $1,214.71 by 2021, possibly reflecting fluctuating investments in energy-efficient upgrades. Real estate taxes rose... Read more
Median Value of Occupied Housing Units in Botetourt County, Virginia Over the Last 8 Years
Over the last 8 years, Botetourt County, Virginia has seen its median home values rise from $208,500 in 2015 to $264,200 in 2022. While this is a significant rise, it's still below Virginia's median of $339,800 for 2022. When compared to the national median value of $179,400 in 2022, Botetourt County appears strong but less competitive within its own state. This dynamic presents opportunities and challenges for potential investors, builders, and homebuyers focused on the region.
Residential Energy Tax Credit Per Tax Return in Botetourt County, VA Over the Last 9 Years
In Botetourt County, Virginia, the average residential energy tax credit per tax return has shown notable fluctuations over the past nine years. Starting at around $373.21 in 2013, there was a general upward trend, spiking dramatically in 2018 at $2,520.00. Post-2018, the values normalized somewhat but still remained substantially higher than the earlier years, reaching $1,214.71 by 2021. This volatility could suggest varying levels of investment in energy-efficient home improvements, potentially driven by changing state or federal incentives. These insights might be particularly relevant for those looking to appraise or insure properties, invest in the local real estate market, or considering energy-efficient upgrades in this area.
Average Real Estate Taxes Per Tax Return in Botetourt County, VA Over the Last 10 Years
Botetourt County, Virginia has seen a noticeable increase in average real estate taxes per tax return over the past decade. From around $2,134.92 in 2012, the figure climbed to approximately $3,359.06 by 2021. A significant jump took place between 2016 and 2018, where taxes increased from roughly $2,437.66 to $3,052.05. This upward trend might be of particular interest to potential investors, property appraisers, and real estate agents, suggesting a growing valuation of property in the area that could affect future investments, insurance premiums, and tax planning.
Percentage of Farm Returns in Botetourt County, VA Over the Last 10 Years
Over the last decade, Botetourt County, Virginia, has seen slight fluctuations in the percentage of farm tax returns, which have generally exhibited a modest decline. Starting at 2.71% in 2012, the percentage dipped to 2.61% in 2013 before peaking slightly at 2.74% in 2014. Thereafter, there has been a gradual decrease, going down to 2.48% by 2018 and marginally declining to 2.44% in 2021. These numbers suggest a nuanced shift in the local agricultural economy or potential changes in tax reporting practices. For investors, builders, or potential residents, recognizing this trend could be vital for understanding the evolving landscape of Botetourt County's agribusiness sector. These percentages reflect the share of total tax returns designated as farm returns, offering insights into the comparative economic activity of farming within the county.
Number of Mortgages by Occupancy Type in Botetourt County, VA Over the Last 5 Years in Botetourt County
In Botetourt County, Virginia, the number of principal residence mortgages peaked in 2021 with 2,665 cases, compared to just 1,584 in 2018, indicating stronger local housing demand or increased buyer confidence during this period. Investment property mortgages saw minor fluctuations, with a slight decrease showing in 2022 compared to previous years, which could suggest a shift in investor sentiment or more appealing alternatives in other regions. Second residence mortgages remained consistently minimal, hinting at either a limited market or prioritization of primary homes and investments over secondary properties. For investors, insurance agents, and real estate professionals, understanding these occupancy trends helps in predicting market needs, risk assessment, setting property values, and advising potential homeowners or developers accordingly.
Economic Outlook
Botetourt County, Virginia has experienced a general rise in average taxable income per tax return, climbing from $61,715.50 in 2013 to $82,429.36 in 2021, with a notable jump between 2017 and 2018. Alongside this, there has been a steady uptick in average state and local income taxes, peaking at around $10,027.00 in 2019, and total tax liability has increased from approximately $8,772.00 in 2012 to $12,259.35 by 2021. These trends may highlight economic growth, potentially making the county a... Read more
Average Taxable Income per Tax Return in Botetourt County, VA over the last 9 years
The average taxable income per tax return in Botetourt County, Virginia has shown a general upward trend over the past nine years, climbing from $61,715.50 in 2013 to $82,429.36 in 2021. Notably, there was a significant increase between 2017 and 2018, rising to $74,991.29, and maintaining a relatively high level despite slight fluctuations. This could indicate economic growth and potentially increasing prosperity in the county, which may be of particular interest to prospective investors, property appraisers, and real estate agents considering developments in the area.
Average State and Local Income Taxes Per Tax Return in Botetourt County, VA Over the Last 10 Years
Over the past decade, Botetourt County, Virginia has seen a steady increase in average state and local income taxes per tax return, starting at approximately $5,316.70 in 2012 and peaking at around $10,027.00 in 2019. This upward trend points to potential economic growth or changes in tax policies that may affect disposable incomes and investment attractiveness in the area. For those considering moving, investing, or doing business in Botetourt County, these tax variations could be significant, indicating broader shifts in the economic environment and potentially impacting financial planning and real estate valuations.
Average Total Tax Liability Per Tax Return in Botetourt County, VA Over the Last 10 Years
Over the last decade, Botetourt County, Virginia has seen a notable increase in average total tax liability per tax return. Starting at around $8,772.00 in 2012, the tax liability has steadily climbed, reaching approximately $12,259.35 by 2021. This trend could be indicative of rising incomes, property values, or changes in tax policies, and it might be of interest to those considering investments, property development, or relocation in the area. The increased tax liability suggests a potentially prosperous economic environment, although the reasons behind this increase would need further exploration for a clearer understanding.
Cost of Living in Botetourt County
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,251 | $1,488 | $1,609 | $1,478 | $1,396 |
| 1 adult 4 children | $1,251 | $1,215 | $1,228 | $1,478 | $1,554 |
| 2 adults 3 children | $1,251 | $1,216 | $1,397 | $1,478 | $1,164 |
| 1 adult 3 children | $1,251 | $992 | $1,016 | $1,478 | $1,304 |
| 2 adults 2 children | $912 | $995 | $1,185 | $1,281 | $951 |
| 1 adult 2 children | $912 | $743 | $804 | $1,281 | $960 |
| 2 adults 1 child | $912 | $786 | $974 | $641 | $852 |
| 1 adult 1 child | $912 | $508 | $593 | $641 | $735 |
| 2 adults | $740 | $632 | $762 | $0 | $678 |
| 1 adult | $666 | $345 | $381 | $0 | $581 |
Safety trends & Data
Botetourt County, Virginia has experienced notable changes in property crime rates over the past five years, with burglary dropping from a peak of 26 incidents in 2019 to just five in 2022. Larceny-theft, while most common, has also seen a downward trend since its 2019 high of 48 incidents. Meanwhile, vandalism spiked in 2020 with 24 incidents. These crime rate shifts could impact property values, insurance costs, and investment decisions, making them important factors for prospective... Read more
Property Crime Trends in Botetourt County, VA Over the Last 5 Years
Botetourt County, Virginia has seen various fluctuations in property crime rates over the past five years, especially in categories such as burglary and larceny-theft. While burglary peaked at 26 incidents in 2019, it dropped significantly to just five incidents in 2022. Larceny-theft, the most common type of property crime, saw its highest number of incidents in 2019 at 48 but has trended downward since then. On the other hand, vandalism incidents spiked noticeably in 2020 at 24 incidents. These shifting crime rates could influence property values, insurance premiums, and investment decisions in Botetourt County, making it a critical factor to consider for prospective residents, business owners, and real estate professionals.
Demographics
Botetourt County, Virginia shows a relatively balanced gender distribution among adults, with slightly more females than males. Educational attainment in the area leans heavily toward high school graduates, while a significant proportion of the population also holds Associate's and Bachelor's degrees. Age-wise, the highest concentrations are among those aged 55 to 64, and the 45 to 54 group isn't far behind, potentially indicating a mature community. Racially, the county is predominantly white,... Read more
Race Distribution in Botetourt County, Virginia (2022)
Educational Attainment in Botetourt County, Virginia (2022)
Age Distribution in Botetourt County, Virginia
Citizen Population in Botetourt County, Virginia (2022)
Political Trends & Data
Botetourt County in Virginia exhibited a strong conservative preference during the 2020 U.S. Presidential Election, with around 71.5% of votes going to Republicans. Democrats received about 27%, while minor parties had minimal impact. This hints at a predominantly conservative voter base and possibly limited political diversity in the... Read more
Percentage of Votes in the 2020 U.S. Presidential Election by Party
Botetourt County in Virginia leaned heavily Republican in the 2020 U.S. Presidential Election, with approximately 71.5% of votes. Democrats trailed significantly, securing about 27%. Minor parties like the Libertarians and others barely made a dent, indicating a strong two-party dominance. This trend could suggest a solid conservative base and potentially limited political diversity in voter preferences.
71.48% of voters voted for the Republican party in the 2020 Presidential Election
26.98% of voters voted for the Democrat party in the 2020 Presidential Election
1.25% of voters voted for the Livertarian party in the 2020 Presidential Election
0.28% of voters voted for the Other party in the 2020 Presidential Election
School Data
In Botetourt County, Virginia, the student-to-teacher ratio fluctuated over the past decade, peaking at 16 students per teacher in 2015 and dipping to 13 in 2021. This trend toward lower ratios could indicate smaller class sizes, often leading to more individualized student attention. For investors and real estate agents, attractive local schools with improving ratios might enhance residential property values and appeal. This can also make the area more inviting for new teachers, potentially... Read more
Student-to-teacher ratio in Botetourt County, Virginia over the last 10 years
In Botetourt County, Virginia, the student-to-teacher ratio has fluctuated over the past decade, remaining mostly in line with the national average of 14 students per teacher. In 2015, it peaked at 16 students per teacher, but significant reductions can be noted in 2021 when it dipped to 13. This trend toward lower ratios in recent years could suggest smaller class sizes, which often translate to more individualized attention for students—a key consideration for families and educators. For investors and real estate agents, the attractiveness of local schools can directly impact residential property values. Lower ratios might also make the area more appealing for new teachers, potentially enhancing the overall quality of education in the county.
