Windsor, Virginia Property Taxes
The median property tax rate in Windsor, VA is 0.73%, notably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Windsor at $237,100, the typical annual property tax bill amounts to $1,659, which is below the national median of $2,690. Property taxes in Windsor are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Windsor's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Windsor or another part of Isle of Wight County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Windsor, Virginia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$1,780
Ownwell’s Windsor Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Windsor with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Windsor to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Windsor, Virginia
Property taxes in Windsor, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Windsor is 0.73%, lower than the U.S. national median of 0.99%. Local government entities within Windsor set these rates annually, and they can vary significantly across different neighborhoods. Each year, Windsor estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Windsor's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 23487 has the highest median property tax rate of 0.73%, while the zip code 23487 also has the lowest median tax rate of 0.73%. Understanding how these cities compare with Windsor provides valuable insights into the varying tax landscape across Isle of Wight County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Windsor Tax Rate
0.73%
Average Isle Of Wight County Tax Rate
0.72%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Windsor, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23487 | 0.71% | 0.71% | 0.73% | 0.73% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Windsor, Virginia
In Windsor, Virginia, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Isle of Wight County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Windsor, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Windsor helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Windsor, both at $1,659, are found in the 23487 zip code.
Average Windsor Assessed Value
$237,100
Average Isle Of Wight County Assessed Value
$278,300
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Windsor, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23487 | $11,080 | $71,000 | $237,100 | $350,200 | $453,100 |
Source: Ownwell
Property Tax Bills Across Windsor, Virginia
In Windsor, located within Isle of Wight County, VA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Windsor is $237,100, which serves as a baseline for determining property taxes. Homeowners can expect their tax bills to vary significantly, with the 25th percentile at $402 and the 75th percentile reaching $2,503. For those in the 90th percentile, tax bills can be as high as $3,213. The assessed value of a property is influenced by various factors, including market conditions, property size, and improvements made to the home. These assessments are crucial as they directly impact the final tax bill. Homeowners in Windsor should be aware that their property tax bills can fluctuate based on these assessments and the local tax rate, which may differ from the national median property tax rate of 0.99%. Understanding these elements can help homeowners better anticipate their annual property tax obligations.
Average Windsor Tax Bill
$1,659
Average Isle Of Wight County Tax Bill
$1,948
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Windsor, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23487 | $64 | $402 | $1,659 | $2,503 | $3,213 |
Source: Ownwell