New Kent County, Virginia Property Taxes
The median property tax rate in New Kent is 0.67%, 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 New Kent at $332,400, the typical annual property tax bill reaches $2,199, which is below the national median of $2,690. Property taxes in New Kent 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 New Kent's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in New Kent 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
New Kent County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.67%
Estimate Property Tax Bill
$2,227
$2,067
Ownwell’s New Kent Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in New Kent with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in New Kent 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 New Kent County, Virginia
Property taxes in New Kent play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in New Kent is 0.67%, which is lower than the U.S. national median of 0.99%. Local government entities within New Kent set these rates annually, and they can vary significantly between different areas within the county. Each year, New Kent 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 New Kent's effective property tax rate with other counties in Virginia and the national median. For comparison, the city of Barhamsville has one of the higher property tax rates in Virginia at 0.67%, while the city of Barhamsville boasts one of the lowest at 0.67%. Analyzing how New Kent's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average New Kent County Tax Rate
0.67%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across New Kent County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Barhamsville | 0.67% | 0.67% | 0.67% | 0.67% | 0.67% |
| Lanexa | 0.67% | 0.67% | 0.67% | 0.67% | 0.67% |
| Mechanicsville | 0.67% | 0.67% | 0.67% | 0.67% | 0.67% |
| New Kent | 0.67% | 0.67% | 0.67% | 0.67% | 0.67% |
| Providence Forge | 0.67% | 0.67% | 0.67% | 0.67% | 0.67% |
| Quinton | 0.67% | 0.67% | 0.67% | 0.67% | 0.67% |
| West Point | 0.67% | 0.67% | 0.67% | 0.67% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across New Kent County, Virginia
In New Kent, 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 New Kent 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 New Kent 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 New Kent will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. For example, Providence Forge has the highest median tax bill at $2,564, while West Point has the lowest at $1,670. This range highlights the importance of understanding your property's assessed value and potential exemptions.
Property Tax Assessment Values Across New Kent County, Virginia
Source: Ownwell
$249,350
$319,725
$390,100
Average New Kent County Assessed Value
$332,400
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across New Kent County, Virginia
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Barhamsville | $170,520 | $245,575 | $327,900 | $446,225 | $598,070 |
| Lanexa | $156,920 | $232,700 | $344,800 | $471,500 | $622,620 |
| Mechanicsville | $299,420 | $328,000 | $367,900 | $429,050 | $461,260 |
| New Kent | $246,140 | $287,600 | $338,000 | $398,100 | $495,520 |
| Providence Forge | $193,480 | $276,300 | $390,100 | $470,600 | $561,180 |
| Quinton | $196,700 | $250,400 | $310,900 | $384,800 | $462,660 |
| West Point | $143,160 | $189,025 | $249,350 | $298,275 | $350,100 |
Source: Ownwell
Property Tax Bills Across New Kent County, Virginia
In New Kent County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor's office. The assessed value is then multiplied by the county's property tax rate to determine the annual tax bill. For context, the national median property tax rate is 0.99%, but local rates can vary. Factors such as property location, size, and improvements can influence the assessed value. For homeowners in New Kent County, the median home price stands at $332,400. Tax bills can range significantly; the 25th percentile tax bill is $1,715, while the 75th percentile reaches $2,791. The 90th percentile tax bill can be as high as $3,519. Notably, Providence Forge has the highest median tax bill at $2,564, whereas West Point has the lowest at $1,670. These tax obligations can impact homeowners' budgets, influencing decisions on buying, selling, or renovating properties. Understanding these factors can help homeowners better manage their financial planning.
Average New Kent County Tax Bill
$2,199
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across New Kent County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Barhamsville | $1,127 | $1,610 | $2,194 | $2,968 | $3,986 |
| Lanexa | $1,025 | $1,527 | $2,291 | $3,128 | $4,150 |
| Mechanicsville | $2,006 | $2,198 | $2,465 | $2,875 | $3,090 |
| New Kent | $1,535 | $1,903 | $2,250 | $2,652 | $3,294 |
| Providence Forge | $1,200 | $1,794 | $2,564 | $3,098 | $3,680 |
| Quinton | $1,286 | $1,662 | $2,065 | $2,565 | $3,097 |
| West Point | $959 | $1,261 | $1,670 | $1,996 | $2,322 |
Source: Ownwell