Shipman, Nelson County, Virginia Property Taxes
Median Shipman, VA effective property tax rate: 0.65%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Shipman, VA home value: $94,000
Median annual Shipman, VA tax bill: $557, $1,843 lower than the national median property tax bill of $2,400.
How are property taxes in Nelson calculated?
Property taxes in Shipman, 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 Shipman’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Shipman, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Shipman, Nelson County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.65%
Estimate Property Tax Bill
$627
$581
Property Tax Rates Across Shipman, Nelson County, Virginia
Local government entities set tax rates, which can vary widely within a state. This is 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, resulting 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.
In Shipman, located in Nelson County, Virginia, the effective property tax rate is 0.65%, which aligns with the highest and lowest median tax rates in the area. When compared to the national median property tax rate of 1.02%, Shipman's rate is significantly lower, offering a more affordable option for property owners. The median property tax bill in Shipman is also expected to be lower than the national median of $2400, providing further financial relief to residents. This competitive tax rate can make Shipman an attractive location for homeowners seeking to minimize their property tax burden while enjoying the benefits of living in Virginia.
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 Shipman Tax Rate
0.65%
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 Nelson County Tax Rate
0.65%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Shipman, Nelson County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22971 | 0.54% | 0.65% | 0.65% | 0.65% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Shipman, Nelson County, Virginia
When examining property taxes in Shipman, 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 Nelson 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 Nelson County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Shipman.
For example, the median home price in Shipman is $94,000, with tax bills ranging significantly across the county. Zip code 22971 has the highest median home price at $94,000.
Property Tax Assessment Values Across Shipman, Nelson County, Virginia
Source: Ownwell
$37,500
$182,050
$326,600
Median Shipman Market Value
$96,400
Median Nelson County Market Value
$146,400
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Shipman, Nelson County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22971 | $9,000 | $26,250 | $96,400 | $210,450 | $354,160 |
Source: Ownwell
Property Tax Bills Across Shipman, Nelson County, Virginia
Median Shipman Tax Bill
$567
Median Nelson County Tax Bill
$909
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Shipman, Nelson County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22971 | $42 | $150 | $567 | $1,285 | $2,095 |
Source: Ownwell