King William, King William County, Virginia Property Taxes
Median KING WILLIAM, VA effective property tax rate: 0.58%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median KING WILLIAM, VA home value: $233,880
Median annual KING WILLIAM, VA tax bill: $1,345, $1,055 lower than the national median property tax bill of $2,400.
How are property taxes in King William County calculated?
Property taxes in KING WILLIAM, 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 KING WILLIAM’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in KING WILLIAM, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
King William, King William County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.58%
Estimate Property Tax Bill
$1,357
$1,259
Ownwell’s KING WILLIAM Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in KING WILLIAM with just two data points.
By entering your property's estimated assessed value, our calculator applies KING WILLIAM’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.
This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in King William.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across King William, King William County, Virginia
Local government entities determine property tax rates, which can differ significantly within a state. This variation occurs because each county annually calculates its necessary budget for services and divides it by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although votes and laws influence these rates and budgets, this is essentially the yearly process.
In King William, VA, the effective property tax rate is 0.58%, which is significantly lower than the national median of 1.02%. This rate is consistent across the county, as both the highest and lowest median tax rates are the same. For homeowners, this translates to a more affordable property tax bill compared to the national median of $2,400. This makes King William an attractive location for property owners seeking to minimize their annual tax expenses. Comparing King William's tax rate to other cities in Virginia and the national average highlights its competitive advantage, offering potential savings for residents.
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 King William Tax Rate
0.58%
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 King William County Tax Rate
0.58%
Median Effective Virginia Tax Rate
0.89%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across King William, King William County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23086 | 0.58% | 0.58% | 0.58% | 0.58% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across King William, King William County, Virginia
When examining property taxes in King William, 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 King William 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 King William County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 King William. For example, the median home price in King William is $233,880, with tax bills ranging significantly across the county. ZIP code 23086 has the highest median home price at $233,880.
Property Tax Assessment Values Across King William, King William County, Virginia
Source: Ownwell
$213,450
$237,725
$262,000
Median King William Market Value
$233,880
Median King William County Market Value
$231,500
Median Virginia Market Value
$298,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across King William, King William County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23086 | $106,600 | $167,880 | $233,880 | $294,000 | $396,460 |
Source: Ownwell
Property Tax Bills Across King William, King William County, Virginia
Property Tax Bills Across King William, King William County, Virginia
Source: Ownwell
$707
$1,106
$1,504
Median King William Tax Bill
$1,345
Median King William County Tax Bill
$1,247
Median Virginia Tax Bill
$2,608
Median United States Tax Bill
$2,400
Property Tax Bills Across King William, King William County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23086 | $576 | $937 | $1,345 | $1,687 | $2,241 |
Source: Ownwell