Onemo, Mathews County, Virginia Property Taxes

Local government entities are responsible for setting tax rates, leading to significant variation within a state. This variation arises because each county annually estimates its required budget to deliver services and then 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 determining tax rates and budgets, this is essentially the annual process.

In ONEMO in Mathews County, VA, the effective property tax rate provides an interesting comparison to other cities in Virginia and the national median. With a median property tax rate of 0.56%, ONEMO's rate is notably lower than the national median of 1.02%. This lower rate can offer significant savings for property owners compared to the national average, where the median property tax bill is $2400. Understanding these differences can be crucial for homeowners looking to manage their property tax expenses effectively.

In ONEMO, located in Mathews County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by local tax assessors. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. With a median home price of $186,300, homeowners in ONEMO face tax bills that can vary significantly. For instance, while the 25th percentile tax bill is $714, those in the 75th percentile might pay up to $1,805, and the 90th percentile can reach $2,441. These figures highlight the potential financial burden on homeowners, especially when compared to the national median property tax bill of $2,400.

Ownwell assists homeowners in ONEMO by offering property tax appeal and exemption services, potentially lowering their tax bills. By analyzing local market trends and leveraging expert knowledge, Ownwell can identify discrepancies in property assessments and help homeowners achieve fairer tax obligations, ultimately saving them money.