New Canton, Cumberland County, Virginia Property Taxes
Median New Canton, VA effective property tax rate: 0.75%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median New Canton, VA home value: $133,180
Median annual New Canton, VA tax bill: $999, $1,401 lower than the national median property tax bill of $2,400.
How are property taxes in Cumberland calculated?
Property taxes in New Canton, 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 New Canton’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in New Canton, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
New Canton, Cumberland County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.6%
Estimate Property Tax Bill
$1,152
$1,069
Property Tax Rates Across New Canton, Cumberland County, Virginia
Local government entities set tax rates, which can vary widely within a state. 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 New Canton's effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S.
New Canton, located in Cumberland County, presents an intriguing case. With a median property tax rate of 0.75%, it stands below the national median of 1.02%, making it an attractive option for property owners. This rate is consistent across the county, indicating a uniform approach to property taxation in the area. When compared to the national median property tax bill of $2,400, residents in New Canton might find their tax obligations to be more manageable. This lower tax rate can be a significant factor for potential homeowners and investors considering properties in 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 New Canton Tax Rate
0.60%
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 Cumberland County Tax Rate
0.60%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across New Canton, Cumberland County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23123 | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across New Canton, Cumberland County, Virginia
When examining property taxes in New Canton, VA, 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 Cumberland 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 Cumberland County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 New Canton.
For example, the median home price in New Canton is $133,180, with tax bills ranging significantly across the county. The zip code 23123 has the highest median home price at $133,180.
Property Tax Assessment Values Across New Canton, Cumberland County, Virginia
Source: Ownwell
$140,190
$175,455
$210,720
Median New Canton Market Value
$192,060
Median Cumberland County Market Value
$170,330
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across New Canton, Cumberland County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23123 | $49,408 | $86,135 | $192,060 | $329,815 | $415,422 |
Source: Ownwell
Property Tax Bills Across New Canton, Cumberland County, Virginia
Median New Canton Tax Bill
$1,152
Median Cumberland County Tax Bill
$1,019
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across New Canton, Cumberland County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23123 | $296 | $517 | $1,152 | $1,979 | $2,493 |
Source: Ownwell