Bohannon, Mathews County, Virginia Property Taxes
Median Bohannon, VA effective property tax rate: 0.56%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Bohannon, VA home value: $250,650
Median annual Bohannon, VA tax bill: $1,404, $996 lower than the national median property tax bill of $2,400.
How are property taxes in Mathews calculated?
Property taxes in Bohannon, 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 Bohannon’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Bohannon, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Bohannon, Mathews County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.56%
Estimate Property Tax Bill
$1,442
$1,338
Property Tax Rates Across Bohannon, Mathews County, Virginia
Local government entities determine property tax rates, which can vary significantly within a state. This variation is primarily due to the annual process where each county calculates its required budget for public services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is the basic annual procedure.
Bohannon, located in Mathews County, VA, has an effective property tax rate that reflects these local calculations. When comparing Bohannon’s rate to other cities in Virginia, it's clear that local economic factors and budgetary needs influence these rates. The median property tax rate in Virginia is significantly lower than the national median of 1.02%. This positions Bohannon favorably in terms of property tax affordability, offering potential savings for property owners compared to other regions. Understanding these local tax dynamics is crucial for property owners looking to optimize their tax liabilities.
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 Bohannon Tax Rate
0.56%
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 Mathews County Tax Rate
0.56%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Bohannon, Mathews County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23021 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Bohannon, Mathews County, Virginia
When examining property taxes in Bohannon, 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 Mathews 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 Mathews 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 containing 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 Bohannon. For example, the median home price in Bohannon is $250,650, with tax bills ranging significantly across the county. Zip code 23021 has the highest median home price at $250,650.
Property Tax Assessment Values Across Bohannon, Mathews County, Virginia
Source: Ownwell
$179,500
$271,850
$364,200
Median Bohannon Market Value
$257,500
Median Mathews County Market Value
$239,800
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Bohannon, Mathews County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23021 | $62,120 | $155,650 | $257,500 | $474,150 | $707,280 |
Source: Ownwell
Property Tax Bills Across Bohannon, Mathews County, Virginia
Median Bohannon Tax Bill
$1,410
Median Mathews County Tax Bill
$1,334
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Bohannon, Mathews County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23021 | $329 | $866 | $1,410 | $2,662 | $3,979 |
Source: Ownwell