Smithfield, Isle Of Wight County, Virginia Property Taxes

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Property Taxes in Smithfield, Virginia

Median Smithfield, Virginia effective property tax rate: 0.73%, significantly lower than the national median of 1.02%, and lower than the Virginia state median of 0.90%.
Median Smithfield, Virginia home value: $353,300
Median annual Smithfield, Virginia tax bill: $2,577, $177 higher than the national median property tax bill of $2,400.

How are property taxes in Isle of Wight calculated?

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

Last Updated April 13, 2026

Smithfield, 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

$2,579

$2,393

How Does the Smithfield Property Tax Calculator Work?

Use this Smithfield property tax calculator to estimate your annual property tax bill. Enter your property’s assessed value and our calculator applies Smithfield’s median effective tax rate of 0.73% — based on actual property records in Isle of Wight County — to generate your estimate.

Enter your property’s estimated assessed value — the figure used to calculate your bill, which reflects any exemptions you hold and is typically lower than your home’s market value. Our calculator applies Smithfield’s median effective rate across local levies, providing a more accurate estimate than applying a single county millage rate.

Smithfield’s median effective tax rate is lower than the Virginia median of 0.90%, and the median property tax bill is $2,577, which is $177 higher than the state median bill.

Your bill may vary by ZIP code within Smithfield: rates range from 0.73% in 23430 to 0.73% in 23430.

For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Smithfield.

About Smithfield Property Taxes

About Property Taxes in Smithfield, Isle of Wight, Virginia

Smithfield's median effective property tax rate of 0.73% is lower than the Virginia state median of 0.90% and lower than the national median of 1.02%. This rate reflects the Isle of Wight 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 Smithfield. Homeowners in the 23430 ZIP code carry a median effective rate of 0.73%, while those in 23430 pay 0.73%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Isle of Wight County. Understanding which part of Smithfield you live in can make a meaningful difference to your annual tax bill.

Smithfield 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 Smithfield, 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 Smithfield's effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S.

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

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
23430	0.73%	0.73%	0.73%	0.73%	0.73%

Source: Ownwell

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

When examining property taxes in Smithfield, 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 Isle of Wight County 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 Isle of Wight County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of spring.

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 Smithfield.

For example, the median home price in Smithfield is $353,300, with tax bills ranging significantly across the county. 23430 has the highest median home price at $353,300.

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

Source: Ownwell

$162,500

$266,850

$371,200

Median Smithfield Market Value

$353,300

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 Smithfield, Isle Of Wight County, Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
23430	$162,020	$245,200	$353,300	$488,700	$645,580

Source: Ownwell

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

Property tax bills in Smithfield are based on the assessed value of a home and the local tax rate set by Isle of Wight County. When a property’s market value rises, the assessed value can increase as well, which may lead to a higher tax bill. Homeowners in Smithfield should also consider that exemptions or appeals can affect the final amount owed.

With a median home price of $353,300, property taxes can be a meaningful part of homeownership costs. The median tax bill in the area is $2,577, which is above the national median property tax bill of $2,400 but close to the national median property tax rate of 1.02%. Tax bills typically vary widely, with the 25th percentile at $1,783 and the 75th percentile at $3,559.

For many homeowners, this means the tax bill may be manageable for some properties but significantly higher for others, depending on assessed value and local rates.

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

Source: Ownwell

$1,186

$1,949

$2,712

Median Smithfield Tax Bill

$2,577

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 Smithfield, Isle Of Wight County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
23430	$1,172	$1,783	$2,577	$3,559	$4,700

Source: Ownwell

Don't miss the deadline to appeal!

Dates
Appeal Deadline	June 1

Links
Isle of Wight Tax Assessor
Website	va-isleofwight.publicaccessnow.com

Frequently Asked Property Tax Questions in Smithfield, Virginia

How are property taxes calculated in Smithfield, Virginia?

Property taxes in Smithfield, Virginia are calculated by multiplying your property's assessed value by the applicable tax rate set by local taxing authorities. The assessed value is determined by the county assessor and may differ from your property's market value depending on local assessment ratios and exemptions.

How do I appeal my property taxes in Smithfield, Virginia?

To appeal your property taxes in Smithfield, Virginia, you typically need to file a formal protest or appeal with your local appraisal district or assessor's office by the stated deadline. You'll need evidence such as comparable sales, a recent independent appraisal, or documentation of property condition issues. Ownwell can handle this entire process for you.

What property tax exemptions are available in Smithfield, Virginia?

Common property tax exemptions in Smithfield, Virginia include homestead exemptions for primary residences, senior citizen exemptions, veteran exemptions, and disability exemptions. Exemption amounts and eligibility requirements vary by county. Contact your local appraisal district or check Ownwell for details specific to your property.

When are property taxes due in Smithfield, Virginia?

Property tax deadlines in Smithfield, Virginia vary by county but typically include an assessment notice period in spring or early summer, followed by an appeal deadline, and a tax payment due date in the fall or winter. Check with your county assessor's office for specific dates in your area.

How can Ownwell help reduce my property taxes in Smithfield, Virginia?

Ownwell provides professional property tax appeal services in Smithfield, Virginia. Our team analyzes your assessment, gathers evidence, files all paperwork, and represents you at hearings — all with no upfront cost. You only pay a percentage of your savings if we successfully lower your tax bill.