New Point, Mathews County, Virginia Property Taxes

Name: Property Tax Bills Across New Point, Mathews County, Virginia
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median NEW POINT, 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 NEW POINT, VA home value: $179,500
Median annual NEW POINT, VA tax bill: $1,005, $1,395 lower than the national median property tax bill of $2,400.

How are property taxes in Mathews calculated?

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

Last Updated March 1, 2025

New Point, Mathews County, Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.56%

Estimate Property Tax Bill

$1,005

$933

Ownwell’s NEW POINT Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in NEW POINT with just two data points.

By entering your property's estimated assessed value, our calculator applies NEW POINT’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 Mathews County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across New Point, Mathews County, Virginia

Local government entities are responsible for setting tax rates, which can vary widely within a state. This variation is due to each county estimating its required budget to provide services and dividing 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 NEW POINT’s effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S. Virginia's median property tax rate is notably lower than the national median of 1.02%, with the rate in NEW POINT being 0.56%. This makes it one of the more tax-friendly areas in the state. Homeowners in NEW POINT benefit from this lower rate, which can result in significant savings compared to areas with higher rates. Understanding these differences is crucial for property owners considering an appeal or exemption, as even small rate changes can impact overall tax liabilities.

Property Tax Rates Across New Point, Mathews County, Virginia

Source: Ownwell

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 New Point Tax Rate

0.56%

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 New Point, Mathews County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
23125	0.56%	0.56%	0.56%	0.56%	0.56%

Source: Ownwell

Property Tax Assessment Values Across New Point, Mathews County, Virginia

When examining property taxes in NEW 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 Mathews County Assessor's Office 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 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 NEW POINT. For example, the median home price in NEW POINT is $179,500, with tax bills ranging significantly across the county. 23125 has the highest median home price at $179,500.

Property Tax Assessment Values Across New Point, Mathews County, Virginia

Source: Ownwell

$179,500

$271,850

$364,200

Median New Point Market Value

$179,500

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 New Point, Mathews County, Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
23125	$63,830	$123,600	$179,500	$320,175	$615,520

Source: Ownwell

Property Tax Bills Across New Point, Mathews County, Virginia

In NEW POINT, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in the area is $179,500. Property tax rates are applied to this assessed value to determine the tax bill. In Mathews County, the median property tax bill is $1,005, which is significantly lower than the national median of $2,400. Factors such as property size, location, and improvements can influence the assessed value, thus affecting the overall tax bill. Homeowners in NEW POINT may face tax bills ranging from the 25th percentile at $693 to the 90th percentile at $3,466, showing considerable variation based on individual property assessments. Ownwell assists homeowners by providing expert property tax appeal and exemption services, potentially lowering their tax burdens. By reviewing assessments and identifying discrepancies, Ownwell helps ensure homeowners pay only their fair share, offering a valuable service in a region where property tax bills can vary widely.

Property Tax Bills Across New Point, Mathews County, Virginia

Source: Ownwell

$1,005

$1,523

$2,040

Median New Point Tax Bill

$1,005

Median Mathews County Tax Bill

$1,334

Median Virginia Tax Bill

$2,852

Median United States Tax Bill

$2,400

Property Tax Bills Across New Point, Mathews County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
23125	$357	$692	$1,005	$1,793	$3,447

Source: Ownwell