Assawoman, Accomack County, Virginia Property Taxes
Median Assawoman, VA effective property tax rate: 0.60%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Assawoman, VA home value: $145,300
Median annual Assawoman, VA tax bill: $865, $1,535 lower than the national median property tax bill of $2,400.
How are property taxes in Accomack County calculated?
Property taxes in Assawoman, VA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Assawoman’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Assawoman, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Assawoman, Accomack County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.48%
Estimate Property Tax Bill
$555
$515
Property Tax Rates Across Assawoman, Accomack County, Virginia
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Assawoman Tax Rate
0.48%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Accomack County Tax Rate
0.48%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Assawoman, Accomack County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23302 | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% |
Source: Ownwell
Property Tax Assessment Values Across Assawoman, Accomack County, Virginia
When examining property taxes in Assawoman, Virginia, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Accomack County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Accomack County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Assawoman.
For example, the median home price in Assawoman is $145,300, with tax bills ranging significantly across the county. Zip code 23302 has the highest median home price at $145,300.
Property Tax Assessment Values Across Assawoman, Accomack County, Virginia
Source: Ownwell
$28,700
$160,150
$291,600
Median Assawoman Market Value
$115,650
Median Accomack County Market Value
$144,300
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Assawoman, Accomack County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23302 | $25,700 | $52,450 | $115,650 | $215,475 | $291,200 |
Source: Ownwell
Property Tax Bills Across Assawoman, Accomack County, Virginia
In Assawoman, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. In Accomack County, where Assawoman is located, property tax bills can vary significantly. For instance, the 25th percentile tax bill is $507, while the 75th percentile reaches $1,263, and the 90th percentile is $1,464. These figures indicate a range of tax burdens for homeowners, influenced by factors such as property location, size, and improvements.
Compared to the national median property tax bill of $2,400, Assawoman's tax bills are relatively lower. However, homeowners can still benefit from potential savings. By leveraging Ownwell's expertise in property tax appeals and exemptions, homeowners can ensure their property is accurately assessed and potentially reduce their tax burden. Ownwell's team works to identify discrepancies in assessments and explore exemption opportunities, helping homeowners save on their property tax bills.
Median Assawoman Tax Bill
$560
Median Accomack County Tax Bill
$687
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Assawoman, Accomack County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23302 | $124 | $254 | $560 | $1,043 | $1,409 |
Source: Ownwell