Greenwood, Albemarle County, Virginia Property Taxes
Property Taxes in Greenwood, Virginia
Median Greenwood, Virginia effective property tax rate: 0.85%, significantly lower than the national median of 1.02%, and lower than the Virginia state median of 0.90%.
Median Greenwood, Virginia home value: $442,800
Median annual Greenwood, Virginia tax bill: $3,605, $1,205 higher than the national median property tax bill of $2,400.
How are property taxes in Albemarle calculated?
Property taxes in Greenwood, Virginia 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 Greenwood's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Greenwood, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Greenwood, Albemarle County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.85%
Estimate Property Tax Bill
$3,764
$3,493
How Does the Greenwood Property Tax Calculator Work?
Use this Greenwood property tax calculator to estimate your annual property tax bill. Enter your property’s assessed value and our calculator applies Greenwood’s median effective tax rate of 0.85% — based on actual property records in Albemarle County — to generate your estimate.
Enter your property’s estimated assessed value — the figure the local assessment authority uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home’s market value. Our calculator applies Greenwood’s median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Greenwood’s median effective tax rate is lower than Virginia’s 0.90% state median tax rate, but the median property tax bill of $3,605 is $1,205 higher than the state median. Rates in ZIP code 22943 are $3,605 at the median.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Greenwood.
About Greenwood Property Taxes
About Property Taxes in Greenwood, Albemarle, Virginia
Greenwood’s median effective property tax rate of 0.85% is lower than the Virginia state median of 0.90% and lower than the national median of 1.02%. This rate reflects the Albemarle County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Greenwood. Homeowners in ZIP code 22943 carry a median effective rate of 0.85%, while those in 22943 pay 0.85%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Albemarle County. Understanding which part of Greenwood you live in can make a meaningful difference to your annual tax bill.
Greenwood homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the June 1, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Greenwood, Albemarle County, Virginia
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.
While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Greenwood's effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S.
Our median effective property tax rate (tax bill Ă· 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 Greenwood Tax Rate
0.85%
Our median effective property tax rate (tax bill Ă· 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 Albemarle County Tax Rate
0.85%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Greenwood, Albemarle County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22943 | 0.66% | 0.85% | 0.85% | 0.85% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Greenwood, Albemarle County, Virginia
When examining property taxes in Greenwood, 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 Albemarle 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.
Assessment notices:
In Albemarle County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of January.
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 Greenwood.
For example, the median home price in Greenwood is $442,800, with tax bills ranging significantly across the county. 22943 has the highest median home price at $442,800.
Property Tax Assessment Values Across Greenwood, Albemarle County, Virginia
Source: Ownwell
$207,500
$483,000
$758,500
Median Greenwood Market Value
$442,800
Median Albemarle County Market Value
$451,350
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Greenwood, Albemarle County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22943 | $136,000 | $261,150 | $442,800 | $771,500 | $1,422,760 |
Source: Ownwell
Property Tax Bills Across Greenwood, Albemarle County, Virginia
Property tax bills in Greenwood are based on the assessed value of a home and the local tax rate set by Albemarle County and other taxing authorities. When a property’s market value rises, the assessed value can increase too, which may lead to a higher bill even if the homeowner has not made any changes to the house.
For Greenwood homeowners, the median home price is $442,800, and the median property tax bill is $3,605, which is above the national median property tax bill of $2,400. Bills can vary widely: the 25th percentile is $2,449, while the 75th percentile reaches $5,731, and the 90th percentile climbs to $8,493.
These taxes affect monthly housing costs and long-term affordability, especially for homeowners whose assessed values have increased faster than their income. In Greenwood, property taxes are a major part of the cost of owning a home.
Median Greenwood Tax Bill
$3,605
Median Albemarle County Tax Bill
$3,925
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Greenwood, Albemarle County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22943 | $1,783 | $2,449 | $3,605 | $5,731 | $8,493 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | June 1 |
Links | |
|---|---|
| Albemarle Tax Assessor | |
| Website | experience.arcgis.com |