Carrollton, Isle Of Wight County, Virginia Property Taxes

Name: Property Tax Bills Across Carrollton, Isle Of Wight County, Virginia
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Carrollton, VA effective property tax rate: 0.72%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%. Median Carrollton, VA home value: $324,300. Median annual Carrollton, VA tax bill: $2,273, $127 lower than the national median property tax bill of $2,400.

How are property taxes in Isle of Wight calculated?

Property taxes in Carrollton, 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 Carrollton’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Carrollton, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Carrollton, Isle Of Wight County, Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.73%

Estimate Property Tax Bill

$2,710

$2,515

Ownwell’s Carrollton Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Carrollton with just two data points. By entering your property's estimated assessed value, our calculator applies Carrollton’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 Isle of Wight County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Carrollton, Isle Of Wight 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 Carrollton’s effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S. Carrollton, located in Isle of Wight County, has a median property tax rate of 0.72%, which is notably lower than the national median of 1.02%. This means homeowners in Carrollton enjoy a more favorable tax environment compared to many other parts of the country. Despite the state’s varying tax rates, Carrollton stands out with its competitive rate, making it an attractive location for property owners. With such a low rate, residents benefit from reduced tax burdens, enhancing the appeal of owning property in this charming Virginia community.

Property Tax Rates Across Carrollton, Isle Of Wight County, Virginia

Source: Ownwell

0.73%

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 Carrollton Tax Rate

0.73%

Median Effective Isle Of Wight County Tax Rate

0.73%

Median Effective Virginia Tax Rate

0.90%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Carrollton, Isle Of Wight County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
23314	0.73%	0.73%	0.73%	0.73%	0.73%

Source: Ownwell

Property Tax Assessment Values Across Carrollton, Isle Of Wight County, Virginia

When examining property taxes in Carrollton, 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 Isle of Wight 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 Isle of Wight 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 Carrollton. For example, the median home price in Carrollton is $324,300, with tax bills ranging significantly across the county. 23314 has the highest median home price at $324,300.

Property Tax Assessment Values Across Carrollton, Isle Of Wight County, Virginia

Source: Ownwell

$162,500

$266,850

$371,200

Median Carrollton Market Value

$371,200

Median Isle Of Wight County Market Value

$333,650

Median Virginia Market Value

$323,500

Median United States Market Value

$235,294

Property Tax Assessment Values Across Carrollton, Isle Of Wight County, Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
23314	$201,490	$269,350	$371,200	$484,375	$613,730

Source: Ownwell

Property Tax Bills Across Carrollton, Isle Of Wight County, Virginia

In Carrollton, VA, property taxes are calculated based on the assessed value of a home, which is determined by the local tax assessor. The tax rate is applied to this assessed value to calculate the annual tax bill. Homeowners in Carrollton can expect a range of property tax bills, with the 25th percentile at $1,115 and the 75th percentile reaching $3,230. The tax bill at the 90th percentile is $4,182, indicating a significant variation depending on the property's assessed value. The median home price in Carrollton is $324,300, which can influence the property tax bill. Compared to the national median property tax bill of $2,400, Carrollton's figures show a diverse range, reflecting the area's economic landscape. Ownwell can assist homeowners by identifying potential savings through property tax appeals and exemptions. By leveraging their expertise, Ownwell helps ensure that homeowners are not overpaying, potentially reducing their property tax bills and alleviating financial burdens.

Property Tax Bills Across Carrollton, Isle Of Wight County, Virginia

Source: Ownwell

$1,186

$1,949

$2,712

Median Carrollton Tax Bill

$2,712

Median Isle Of Wight County Tax Bill

$2,431

Median Virginia Tax Bill

$2,852

Median United States Tax Bill

$2,400

Property Tax Bills Across Carrollton, Isle Of Wight County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
23314	$1,465	$1,963	$2,712	$3,538	$4,481

Source: Ownwell