Wicomico Church, Virginia Property Taxes
The median property tax rate in Wicomico Church, VA is 0.61%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With a median home value of $726,400 in Wicomico Church, the typical annual property tax bill is $4,431, which exceeds the national median of $2,690. Property taxes in Wicomico Church are calculated based on the assessed value, which typically falls below the market value due to exemptions such as the primary residence and agricultural exemptions. Understanding Wicomico Church's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Wicomico Church or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wicomico Church, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$4,431
$4,112
Ownwell’s Wicomico Church Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wicomico Church with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wicomico Church to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Wicomico Church, Virginia
Property taxes in Wicomico Church, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wicomico Church is 0.61%, which is lower than both the Virginia state median and the U.S. national median of 0.99%. Local government entities within Wicomico Church set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wicomico Church estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Wicomico Church's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 22579 in Northumberland County has the highest median property tax rate of 0.61%, while the same zip code also has the lowest median tax rate of 0.61%. Understanding how these areas compare with Wicomico Church provides valuable insights into the varying tax landscape across Northumberland County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wicomico Church Tax Rate
0.61%
Average Northumberland County Tax Rate
0.61%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wicomico Church, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22579 | 0.61% | 0.61% | 0.61% | 0.61% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Wicomico Church, Virginia
In Wicomico Church, Virginia, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Northumberland County Appraisal District for tax purposes. In contrast, the assessed value 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. In Wicomico Church, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. The median home price in Wicomico Church is $726,400, with the highest and lowest median tax bills being $4,431 in the 22579 zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Wicomico Church, Virginia
Source: Ownwell
$73,600
$400,000
$726,400
Average Wicomico Church Assessed Value
$726,400
Average Northumberland County Assessed Value
$188,200
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wicomico Church, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22579 | $726,400 | $726,400 | $726,400 | $726,400 | $726,400 |
Source: Ownwell
Property Tax Bills Across Wicomico Church, Virginia
In Wicomico Church, VA, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The median home price in this area is $726,400. The tax bill is derived by applying the local tax rate to the assessed property value. Factors such as property size, location, and market conditions play significant roles in determining the assessed value. For homeowners in Wicomico Church, the median property tax bill is $4,431, which is higher than the national median property tax rate of 0.99%. This higher tax bill can impact homeowners by increasing their annual financial obligations, potentially affecting their budgeting and financial planning. The consistency in tax bills, as seen in the 25th, 75th, and 90th percentiles all being $4,431, suggests a stable and predictable tax environment for residents. Understanding these factors can help homeowners better prepare for their property tax responsibilities.
Average Wicomico Church Tax Bill
$4,431
Average Northumberland County Tax Bill
$1,131
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Wicomico Church, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22579 | $4,431 | $4,431 | $4,431 | $4,431 | $4,431 |
Source: Ownwell