Farnham, Northumberland County, Virginia Property Taxes
Median Farnham, VA effective property tax rate: 0.61%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Farnham, VA home value: $144,250
Median annual Farnham, VA tax bill: $880, $1,520 lower than the national median property tax bill of $2,400.
How are property taxes in Northumberland calculated?
Property taxes in Farnham, 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 Farnham’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Farnham, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Farnham, Northumberland County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.66%
Estimate Property Tax Bill
$952
$883
Property Tax Rates Across Farnham, Northumberland County, Virginia
Local government entities set tax rates, which can vary widely within a state. This variation occurs because each county annually 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 votes and laws are involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Farnham’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 0.61%, which is significantly lower than the national median of 1.02%. This means that property owners in Farnham benefit from relatively low property tax rates compared to many other areas across the country. This lower tax burden can be an attractive aspect for property owners looking to save on annual expenses. By understanding these rates, property owners can make informed decisions regarding their investments and financial planning.
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 Farnham Tax Rate
0.66%
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 Northumberland County Tax Rate
0.66%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Farnham, Northumberland County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22460 | 0.61% | 0.66% | 0.66% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Farnham, Northumberland County, Virginia
When examining property taxes in Farnham, 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 Northumberland 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 Northumberland 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 Farnham.
For example, the median home price in Farnham is $144,250, with tax bills ranging significantly across the county. The zip code 22460 has the highest median home price at $144,250.
Property Tax Assessment Values Across Farnham, Northumberland County, Virginia
Source: Ownwell
$73,600
$201,950
$330,300
Median Farnham Market Value
$144,250
Median Northumberland County Market Value
$189,200
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Farnham, Northumberland County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22460 | $95,830 | $121,525 | $144,250 | $158,375 | $191,570 |
Source: Ownwell
Property Tax Bills Across Farnham, Northumberland County, Virginia
Median Farnham Tax Bill
$952
Median Northumberland County Tax Bill
$1,227
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Farnham, Northumberland County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22460 | $632 | $802 | $952 | $1,045 | $1,170 |
Source: Ownwell