Yorktown, Virginia Property Taxes
The median property tax rate in Yorktown, VA is 0.77%, 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 Yorktown being $335,900, the typical annual property tax bill reaches $2,586, slightly below the national median of $2,690. Property taxes in Yorktown are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Yorktown'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 Yorktown 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
Yorktown, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$2,586
Ownwell’s Yorktown Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Yorktown with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Yorktown 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 Yorktown, Virginia
Property taxes in Yorktown, VA, are crucial for funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Yorktown is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Yorktown set these rates annually, and they can vary significantly across different neighborhoods. Each year, Yorktown 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 Yorktown's effective property tax rate to other regions and the national median. For comparison, the zip code 23690 has both the highest and lowest median property tax rate in Yorktown, standing at 0.77%. Understanding how these areas compare with Yorktown provides valuable insights into the varying tax landscape across York County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Yorktown Tax Rate
0.77%
Average York County Tax Rate
0.77%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Yorktown, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23690 | 0.77% | 0.77% | 0.77% | 0.77% | 0.77% |
| 23692 | 0.77% | 0.77% | 0.77% | 0.77% | 0.77% |
| 23693 | 0.77% | 0.77% | 0.77% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Yorktown, Virginia
In Yorktown, 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 local appraisal authorities 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 Yorktown, 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. Being aware of these valuation processes in Yorktown helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Yorktown, the highest median tax bill is $2,924 in zip code 23693, while the lowest median tax bill is $1,958 in zip code 23690.
Average Yorktown Assessed Value
$335,900
Average York County Assessed Value
$318,500
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Yorktown, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23690 | $138,530 | $196,550 | $255,100 | $334,125 | $403,470 |
| 23692 | $191,800 | $243,000 | $310,450 | $379,100 | $463,000 |
| 23693 | $209,330 | $275,675 | $379,700 | $457,700 | $542,400 |
Source: Ownwell
Property Tax Bills Across Yorktown, Virginia
In Yorktown, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to arrive at the annual property tax bill. For example, with a median home price of $335,900, homeowners can expect varying tax bills depending on specific factors such as property location and exemptions. The tax bill in Yorktown can range significantly. At the 25th percentile, homeowners might pay around $1,917 annually, while those at the 75th percentile could see bills as high as $3,247. For those in the 90th percentile, the tax bill could reach up to $3,932. The highest median tax bill in Yorktown is $2,924 in the 23693 zip code, while the lowest is $1,958 in the 23690 zip code. These property taxes can have a substantial impact on homeowners, influencing their overall cost of living and financial planning. Compared to the national median property tax rate of 0.99%, Yorktown's rates reflect the area's unique housing market and local government funding needs.
Average Yorktown Tax Bill
$2,586
Average York County Tax Bill
$2,452
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Yorktown, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23690 | $1,066 | $1,497 | $1,958 | $2,549 | $3,081 |
| 23692 | $1,477 | $1,871 | $2,390 | $2,919 | $3,565 |
| 23693 | $1,611 | $2,128 | $2,924 | $3,522 | $4,177 |
Source: Ownwell