Bumpass, Hanover County, Virginia Property Taxes
Median Bumpass, VA effective property tax rate: 0.81%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Bumpass, VA home value: $360,750
Median annual Bumpass, VA tax bill: $2,922, $522 higher than the national median property tax bill of $2,400.
How are property taxes in Hanover calculated?
Property taxes in Bumpass, 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 Bumpass’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Bumpass, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Bumpass, Hanover County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.81%
Estimate Property Tax Bill
$3,033
$2,814
Ownwell’s Bumpass Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Bumpass with just two data points.
By entering your property's estimated assessed value, our calculator applies Bumpass's median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.
This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Hanover County.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Bumpass, Hanover County, Virginia
Local government entities in Virginia set property tax rates, which can vary significantly across different areas. This variation occurs because each county, including Hanover, annually estimates its budgetary needs to provide essential services. The total required budget is then divided by the total assessed value of all taxable properties within the county, resulting in the property tax rate for that year. While votes and legislative measures play a role in determining these rates and budgets, this is the fundamental process followed annually.
In Bumpass, located within Hanover County, the effective property tax rate is 0.81%. This rate aligns with the median tax rate in Virginia, which is also 0.81%. When compared to the national median property tax rate of 1.02%, Bumpass and Hanover County offer a more favorable tax environment. The property tax bill in this region is typically lower than the national median of $2,400, making it an attractive area for property owners. Understanding these rates can help property owners in Bumpass make informed decisions about their investments and financial planning.
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 Bumpass Tax Rate
0.81%
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 Hanover County Tax Rate
0.81%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Bumpass, Hanover County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23024 | 0.81% | 0.81% | 0.81% | 0.81% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Bumpass, Hanover County, Virginia
When examining property taxes in Bumpass, 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 Hanover 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 Hanover 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 Bumpass. For example, the median home price in Bumpass is $360,750, with tax bills ranging significantly across the county. Zip code 23024 has the highest median home price at $360,750.
Property Tax Assessment Values Across Bumpass, Hanover County, Virginia
Source: Ownwell
$306,650
$374,025
$441,400
Median Bumpass Market Value
$374,400
Median Hanover County Market Value
$361,800
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Bumpass, Hanover County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23024 | $138,020 | $256,900 | $374,400 | $586,300 | $717,000 |
Source: Ownwell
Property Tax Bills Across Bumpass, Hanover County, Virginia
In Bumpass, located in Hanover County, VA, property tax bills are calculated based on the assessed value of a home. The local tax rate is applied to this assessed value to determine the annual tax bill. With a median home price of $360,750, homeowners can expect their property tax bills to vary significantly. The 25th percentile tax bill is $2,008, while the 75th percentile reaches $4,437, and the 90th percentile climbs to $5,481. The median property tax bill in the area is $2,922, which is above the national median of $2,400, yet the tax rate remains competitive compared to the national median property tax rate of 1.02%.
For homeowners, these taxes can represent a substantial financial burden. Ownwell offers a solution by providing property tax appeal and exemption services. By analyzing your property's assessed value and comparing it to similar properties, Ownwell can identify potential savings and assist in reducing your tax bill, ensuring you only pay your fair share.
Median Bumpass Tax Bill
$3,033
Median Hanover County Tax Bill
$2,958
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Bumpass, Hanover County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23024 | $1,118 | $2,081 | $3,033 | $4,749 | $5,808 |
Source: Ownwell