Hanover, Hanover County, Virginia Property Taxes
Median Hanover, VA effective property tax rate: 0.81%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Hanover, VA home value: $333,500
Median annual Hanover, VA tax bill: $2,702, $302 higher than the national median property tax bill of $2,400.
How are property taxes in Hanover calculated?
Property taxes in Hanover, 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 Hanover’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Hanover, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Hanover, Hanover County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.81%
Estimate Property Tax Bill
$2,701
$2,507
Property Tax Rates Across Hanover, Hanover County, Virginia
Local government entities determine tax rates, leading to significant variations within a state. Each county annually estimates its budget needs to provide services and divides this 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 setting tax rates and budgets, this is essentially the annual process.
In Hanover, Virginia, the effective property tax rate stands at 0.81%, which is notably below the national median property tax rate of 1.02%. This lower rate can lead to potential savings for homeowners when compared to the national average. Hanover's rate remains consistent across the county, reflecting a uniform approach to property taxation within its jurisdiction. This consistency can be advantageous for homeowners seeking predictability in their annual property tax bills.
Understanding how Hanover's property tax rate compares to both state and national figures can provide valuable insights for property owners. Lower rates can enhance the appeal of owning property in Hanover, making it an attractive option for those looking to maximize their investment while keeping tax expenses manageable.
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 Hanover Tax Rate
0.81%
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 Hanover County Tax Rate
0.81%
Median Effective Virginia Tax Rate
0.89%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Hanover, Hanover County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23069 | 0.81% | 0.81% | 0.81% | 0.81% | 0.81% |
Source: Ownwell
Property Tax Assessment Values Across Hanover, Hanover County, Virginia
When examining property taxes in Hanover, 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 Hanover 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 Hanover 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 Hanover. For example, the median home price in Hanover is $333,500, with tax bills ranging significantly across the county. Zip code 23069 has the highest median home price at $333,500.
Property Tax Assessment Values Across Hanover, Hanover County, Virginia
Source: Ownwell
$281,600
$339,700
$397,800
Median Hanover Market Value
$333,500
Median Hanover County Market Value
$334,500
Median Virginia Market Value
$298,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Hanover, Hanover County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23069 | $65,140 | $218,700 | $333,500 | $495,200 | $665,740 |
Source: Ownwell
Property Tax Bills Across Hanover, Hanover County, Virginia
In Hanover, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to calculate the annual tax bill. The median home price in Hanover is $333,500, which influences the tax bill amount. Homeowners in Hanover face a median property tax bill of $2,702, slightly above the national median of $2,400. Tax bills can vary significantly, with the 25th percentile at $1,778 and the 90th percentile reaching $5,393. This variation is due to differences in property values and specific neighborhood assessments.
For homeowners looking to reduce their property tax bills, Ownwell offers expert property tax appeal services. By analyzing individual property assessments, Ownwell identifies discrepancies or overvaluations, potentially lowering the assessed value and thus the tax bill. This service can provide significant savings, especially for those in higher tax brackets. With Ownwell's guidance, homeowners can ensure they are not overpaying on their property taxes, providing peace of mind and financial relief.
Median Hanover Tax Bill
$2,702
Median Hanover County Tax Bill
$2,727
Median Virginia Tax Bill
$2,608
Median United States Tax Bill
$2,400
Property Tax Bills Across Hanover, Hanover County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23069 | $585 | $1,778 | $2,702 | $4,013 | $5,393 |
Source: Ownwell