Mathews County, Virginia Property Taxes
The median property tax rate in Mathews is 0.56%, which is significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Mathews, the typical annual property tax bill reaches $1,332, which is well below the national median of $2,690. Property taxes in Mathews are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Mathews' specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Mathews or another part of the county, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Mathews County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$1,332
$1,236
Ownwell’s Mathews Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Mathews with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Mathews to estimate your property tax bill. This insightful tool 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 Mathews County, Virginia
Property taxes in Mathews County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Mathews County is 0.56%, which is lower than the U.S. national median of 0.99%. Local government entities within Mathews County set these rates annually, and they can vary significantly between different areas within the county. Each year, Mathews County 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 Mathews County's effective property tax rate with other counties and the national median. For comparison, the city of Bohannon has one of the higher property tax rates in the region at 0.56%, which is also the same as the county's median rate. Analyzing how Mathews County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Mathews County Tax Rate
0.56%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mathews County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bohannon | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
| Cardinal | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
| Cobbs Creek | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
| Diggs | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
| Dutton | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
| Foster | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
| Grimstead | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
| Gwynn | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
| Hallieford | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
| Hudgins | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
| Mathews | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
| Moon | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
| New Point | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
| North | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
| Onemo | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
| Port Haywood | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
| Susan | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Mathews County, Virginia
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Mathews. 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 Mathews 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 Mathews 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. In Mathews, the median home price is $237,900, with tax bills ranging from $797 at the 25th percentile to $3,458 at the 90th percentile. Hallieford has the highest median tax bill at $2,000, while New Point has the lowest at $1,005. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Mathews County, Virginia
Source: Ownwell
$179,500
$268,350
$357,200
Average Mathews County Assessed Value
$237,900
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mathews County, Virginia
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bohannon | $59,110 | $154,550 | $250,650 | $473,525 | $712,170 |
| Cardinal | $56,140 | $115,050 | $216,700 | $482,700 | $732,720 |
| Cobbs Creek | $65,310 | $149,500 | $241,450 | $406,450 | $612,850 |
| Diggs | $43,280 | $81,100 | $190,700 | $409,700 | $615,620 |
| Dutton | $85,050 | $165,150 | $215,800 | $297,275 | $396,390 |
| Foster | $55,540 | $137,950 | $225,750 | $431,475 | $591,000 |
| Grimstead | $68,500 | $134,125 | $236,350 | $372,350 | $525,700 |
| Gwynn | $110,650 | $179,575 | $256,400 | $389,950 | $550,190 |
| Hallieford | $87,640 | $190,100 | $357,200 | $514,600 | $772,560 |
| Hudgins | $62,100 | $153,200 | $257,700 | $434,800 | $640,480 |
| Mathews | $77,750 | $156,075 | $238,800 | $430,475 | $669,710 |
| Moon | $86,070 | $192,300 | $281,150 | $461,550 | $645,420 |
| New Point | $63,610 | $123,800 | $179,500 | $319,525 | $618,840 |
| North | $40,590 | $93,625 | $215,750 | $392,350 | $555,870 |
| Onemo | $47,180 | $127,500 | $186,300 | $322,250 | $435,820 |
| Port Haywood | $61,020 | $136,200 | $247,800 | $411,900 | $565,480 |
| Susan | $70,780 | $121,200 | $225,100 | $399,550 | $578,880 |
Source: Ownwell
Property Tax Bills Across Mathews County, Virginia
In Mathews County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by local government assessors. The assessed value is not necessarily the market value but is an estimate used for tax purposes. Several factors influence this value, including the property's size, location, and condition. Once the assessed value is established, the tax rate is applied to determine the annual tax bill. Homeowners in Mathews County can expect a wide range in their property tax bills. For instance, the 25th percentile tax bill is approximately $797, while the 75th percentile tax bill reaches about $2,297. At the higher end, the 90th percentile tax bill is around $3,458. Comparatively, the national median property tax rate is 0.99%, making Mathews County's tax rates quite variable. The highest median tax bill in the county is found in Hallieford at $2,000, whereas New Point has the lowest at $1,005. These variations significantly impact homeowners, influencing their financial planning and property investment decisions.
Average Mathews County Tax Bill
$1,332
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Mathews County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Bohannon | $331 | $865 | $1,404 | $2,652 | $3,988 |
| Cardinal | $314 | $644 | $1,214 | $2,703 | $4,103 |
| Cobbs Creek | $366 | $837 | $1,352 | $2,276 | $3,432 |
| Diggs | $242 | $454 | $1,068 | $2,294 | $3,447 |
| Dutton | $476 | $925 | $1,208 | $1,665 | $2,220 |
| Foster | $311 | $773 | $1,264 | $2,416 | $3,310 |
| Grimstead | $384 | $751 | $1,324 | $2,085 | $2,944 |
| Gwynn | $570 | $998 | $1,433 | $2,184 | $3,081 |
| Hallieford | $491 | $1,065 | $2,000 | $2,882 | $4,326 |
| Hudgins | $348 | $858 | $1,443 | $2,435 | $3,587 |
| Mathews | $435 | $874 | $1,337 | $2,411 | $3,750 |
| Moon | $482 | $1,077 | $1,574 | $2,585 | $3,614 |
| New Point | $356 | $693 | $1,005 | $1,789 | $3,466 |
| North | $227 | $524 | $1,208 | $2,197 | $3,113 |
| Onemo | $264 | $714 | $1,043 | $1,805 | $2,441 |
| Port Haywood | $342 | $763 | $1,388 | $2,307 | $3,167 |
| Susan | $396 | $679 | $1,261 | $2,237 | $3,242 |
Source: Ownwell