Isle of Wight County, VA Property Tax Search
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In-depth Isle of Wight County, VA Property Tax Information
Refine your research with detailed tax information, such as rates and exemptions for your property of choice. Create a free account and get a full rundown like the sample below.
See detailed property tax information from the sample report for 13546 S village Way, Isle of Wight County, VA
Property Tax Calculation
The Virginia Tax Code represents the main legal document regarding taxation. Property taxes are determined at local levels, being used for schools, fire and police protection, public parks and other benefits.
Market Value
The Real Estate Assessor determines the fair market value for all taxable real property in the Isle of Wight County. Market value has been defined by The Supreme Court as the sale price of real estate as agreed upon between a willing buyer and willing seller, with neither being under duress to buy or sell.
Assessed Value
Assessed value is calculated based on market value using a predetermined ratio. Virginia Tax Code requires that all properties currently must be assessed for taxation at 100% of market value. The assessment process takes place every year.
Exemptions and Taxable Value
Exemptions are available and may lower the property's tax bill. These are deducted from the property's assessed value to give the property's taxable value.
Unfortunately, no data regarding the exact exemption values was provided to us, therefore taxable value is equal to assessed value.
Property Tax
Property tax is calculated by multiplying the property's assessed value by the Real Estate tax rate and is an estimate of what an owner not benefiting from exemptions would pay.
Actual taxes might differ from the figures displayed here due to various abatement and financial assistance programs. For more information please visit Isle of Wight's County Assessment information, Treasurer or look up this property's current valuation and tax situation.
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Isle of Wight County Stats for Property Taxes
For an easier overview of the difference in tax rates between counties, explore the charts below. You can also get additional insights on median home values, income levels and homeownership rates in your area.
Effective tax rate (%)
0.73% of Assessed Home Value
0.76% of Assessed Home Value
1.02% of Assessed Home Value
Median real estate taxes paid
$2,376
$2,591
$2,869
Median home value
$327,600
$339,800
$281,900
Median income
$91,680
$87,249
$75,149
Owner occupied housing (%)
78.3%
66.9%
64.8%
Renter occupied housing (%)
21.7%
33.1%
35.2%
Frequently Asked Questions on Property Taxes
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All the factors that determine your target property's tax bill are readily available in the full property report.
In addition to tax and value assessments, you'll also get access to detailed property information, such as the latest sale date and price.
To see the full list of features and tools that will upgrade your search, check out our services. From the initial research stage to setting and comparing prices, everything you need is right here in one place.
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