Gloucester Point, Gloucester County, Virginia Property Taxes
Median Gloucester Point, VA effective property tax rate: 0.59%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Gloucester Point, VA home value: $281,050
Median annual Gloucester Point, VA tax bill: $1,661, $739 lower than the national median property tax bill of $2,400.
How are property taxes in Gloucester calculated?
Property taxes in Gloucester Point, 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 Gloucester Point’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Gloucester Point, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Gloucester Point, Gloucester County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.59%
Estimate Property Tax Bill
$1,648
$1,529
Property Tax Rates Across Gloucester Point, Gloucester County, Virginia
Local government entities are responsible for setting property tax rates, which can vary significantly across different areas within a state. This variation is primarily due to each county's unique process of estimating its annual budget to fund essential services and then dividing that amount by the total assessed value of all taxable properties within its jurisdiction. This calculation results in the property tax rate that property owners must pay. Although the process involves votes and legislative actions to finalize tax rates and budgets, this is the core method used each year.
In Gloucester Point, located in Gloucester County, Virginia, the effective property tax rate stands at 0.59%. This rate is notably below the national median property tax rate of 1.02%. When comparing Gloucester Point's rate to other cities in Virginia and the broader U.S., it becomes evident that residents benefit from a relatively low property tax burden. This lower rate can be an attractive factor for homeowners and potential buyers considering a move to this region, offering a more affordable option in terms of property taxes compared to many other areas in the country.
Property Tax Rates Across Gloucester Point, Gloucester County, Virginia
Source: Ownwell
0.58%
0.59%
0.59%
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 Gloucester Point Tax Rate
0.59%
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 Gloucester County Tax Rate
0.58%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Gloucester Point, Gloucester County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23062 | 0.58% | 0.59% | 0.59% | 0.59% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Gloucester Point, Gloucester County, Virginia
When examining property taxes in Gloucester Point, 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 Gloucester 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 Gloucester County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Gloucester Point. For example, the median home price in Gloucester Point is $281,050, with tax bills ranging significantly across the county. Zip code 23062 has the highest median home price at $281,050.
Property Tax Assessment Values Across Gloucester Point, Gloucester County, Virginia
Source: Ownwell
$244,980
$289,870
$334,760
Median Gloucester Point Market Value
$279,250
Median Gloucester County Market Value
$282,260
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Gloucester Point, Gloucester County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23062 | $201,720 | $240,055 | $279,250 | $352,430 | $478,150 |
Source: Ownwell
Property Tax Bills Across Gloucester Point, Gloucester County, Virginia
Property Tax Bills Across Gloucester Point, Gloucester County, Virginia
Source: Ownwell
$1,438
$1,645
$1,851
Median Gloucester Point Tax Bill
$1,661
Median Gloucester County Tax Bill
$1,648
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Gloucester Point, Gloucester County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23062 | $1,185 | $1,428 | $1,661 | $2,099 | $2,884 |
Source: Ownwell