James City County Property Taxes
The median property tax rate in James City County is 0.83%, which is lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in James City County at $333,650, the typical annual property tax bill amounts to $2,739, slightly above the national median of $2,690. Property taxes in James City County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding James City County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Williamsburg or another part of James City County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
James City County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.83%
Estimate Property Tax Bill
$2,769
Ownwell’s James City Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in James City with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in James City to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across James City County, Virginia
Property taxes in James City play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in James City is 0.83%, which is lower than the U.S. national median of 0.99%. Local government entities within James City set these rates annually, and they can vary significantly between different areas within the county. Each year, James City estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares James City's effective property tax rate with other counties in Virginia and the national median. For comparison, the city of Lanexa has one of the higher property tax rates at 0.83%, while the city of Barhamsville boasts one of the lowest at 0.61%. Analyzing how James City's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average James City County Tax Rate
0.83%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across James City County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Barhamsville | 0.61% | 0.61% | 0.61% | 0.61% | 0.61% |
| Lanexa | 0.83% | 0.83% | 0.83% | 0.83% | 0.83% |
| Toano | 0.83% | 0.83% | 0.83% | 0.83% | 0.83% |
| Williamsburg | 0.83% | 0.83% | 0.83% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across James City County, Virginia
In James City, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the James City Appraisal District. The assessed value, however, 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. Assessment notices in James City are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in James City will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. Notably, Williamsburg has the highest median tax bill at $2,785, while Barhamsville has the lowest at $1,709.
Property Tax Assessment Values Across James City County, Virginia
Source: Ownwell
$246,350
$299,225
$352,100
Average James City County Assessed Value
$333,650
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across James City County, Virginia
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Barhamsville | $279,300 | $279,300 | $279,300 | $279,300 | $279,300 |
| Lanexa | $112,900 | $173,575 | $246,350 | $373,225 | $514,070 |
| Toano | $184,260 | $233,600 | $319,400 | $424,050 | $531,920 |
| Williamsburg | $176,800 | $248,225 | $338,200 | $458,200 | $602,400 |
Source: Ownwell
Property Tax Bills Across James City County, Virginia
In James City County, VA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The assessed value is determined by the county's assessment office, which evaluates properties periodically to reflect current market conditions. The local tax rate is then applied to this assessed value to calculate the annual tax bill. For example, with a median home price of $333,650, the tax bill can vary significantly. Homeowners in the 25th percentile pay around $1,997, while those in the 75th percentile pay approximately $3,725. At the 90th percentile, the tax bill can reach up to $4,872. Comparatively, the highest median tax bill in the county is $2,785 in Williamsburg, while the lowest is $1,709 in Barhamsville. These property taxes fund essential public services such as schools, emergency services, and infrastructure, directly impacting the quality of life for residents. Homeowners need to be aware of these factors as they can significantly influence their annual financial planning.
Average James City County Tax Bill
$2,739
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across James City County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Barhamsville | $1,709 | $1,709 | $1,709 | $1,709 | $1,709 |
| Lanexa | $773 | $1,374 | $2,007 | $3,034 | $4,197 |
| Toano | $1,471 | $1,879 | $2,605 | $3,433 | $4,302 |
| Williamsburg | $1,425 | $2,034 | $2,785 | $3,779 | $4,971 |
Source: Ownwell