Property Taxes in Chincoteague Island, Virginia
Median Chincoteague Island, Virginia effective property tax rate: 0.38%, significantly lower than the national median of 1.02%, and lower than the Virginia state median of 0.90%.
Median Chincoteague Island, Virginia home value: $291,500
Median annual Chincoteague Island, Virginia tax bill: $1,118, lower than the national median property tax bill of $2,400.
How are property taxes in Accomack calculated?
Property taxes in Chincoteague Island, Virginia are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Chincoteague Island's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Chincoteague Island, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
How Does the Chincoteague Island Property Tax Calculator Work?
Use this Chincoteague Island property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and the calculator applies Chincoteague Island's median effective tax rate of 0.38% — based on actual property records in Accomack County — to generate your estimate.
Enter your property's estimated assessed value — the figure used to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. The calculator applies Chincoteague Island's median effective rate across local levies, providing a more accurate estimate than using a single county millage rate.
Your bill may vary by ZIP code within Chincoteague Island, but the median tax bill is $1,118 in 23336. That is $1,282 lower than the Virginia median property tax bill and below the 0.90% state median tax rate.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Chincoteague Island.
About Chincoteague Island Property Taxes
About Property Taxes in Chincoteague Island, Accomack, Virginia
Chincoteague Island's median effective property tax rate of 0.38% is lower than the Virginia state median of 0.90% and lower than the national median of 1.02%. This rate reflects the Accomack County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Chincoteague Island. Homeowners in the 23336 ZIP code carry a median effective rate of 0.38%, while those in the same ZIP code pay 0.38%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Accomack County. Understanding which part of Chincoteague Island you live in can make a meaningful difference to your annual tax bill.
Chincoteague Island homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the June 1, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Chincoteague Island, Accomack County, Virginia
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.
While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Chincoteague Island's effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S.
Property Tax Rates Across Chincoteague Island, Accomack County, Virginia
Source: Ownwell
0.38%
0.44%
0.50%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Chincoteague Island Tax Rate
0.38%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Accomack County Tax Rate
0.48%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.27%
Property Tax Rates Across Chincoteague Island, Accomack County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23336 | 0.38% | 0.38% | 0.38% | 0.38% | 0.38% |
| 23337 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Chincoteague Island, Accomack County, Virginia
When examining property taxes in Chincoteague Island, Virginia, understanding the distinction between "market value" and "assessed value" is crucial.
The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Accomack County appraisal district estimates the market value for tax purposes.
The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices:
In Accomack County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of February.
Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. The median home price in Chincoteague Island is $291,500, with tax bills ranging across the county. Zip code 23336 has the highest median home price at $291,600.
Property Tax Assessment Values Across Chincoteague Island, Accomack County, Virginia
Source: Ownwell
$28,700
$160,150
$291,600
Median Chincoteague Island Market Value
$291,500
Median Accomack County Market Value
$144,300
Median Virginia Market Value
$323,500
Median United States Market Value
$274,101
Property Tax Assessment Values Across Chincoteague Island, Accomack County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23336 | $63,700 | $182,100 | $291,600 | $432,650 | $579,600 |
| 23337 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Chincoteague Island, Accomack County, Virginia
How are property tax bills calculated in Chincoteague Island?
Property tax bills in Chincoteague Island are based on the assessed value of a home and the local tax rate set by the county. The assessed value is compared with the market value of the property, and that figure is used to determine how much tax a homeowner owes each year. For a home with a median price of $291,500, the bill can vary widely depending on the assessment and any local exemptions or adjustments.
What factors affect the final bill?
Location, property characteristics, and changes in assessed value all play a role. In Accomack County, the median tax bill in ZIP code 23336 is $1,118, which is below the national median property tax bill of $2,400 and below the national median property tax rate of 1.02%.
How does this affect homeowners?
A higher assessment can increase annual taxes, while a lower assessment can reduce them. Bills in the area range from $702 at the 25th percentile to $2,224 at the 90th percentile, so homeowners may see very different outcomes even within the same community.
Property Tax Bills Across Chincoteague Island, Accomack County, Virginia
Source: Ownwell
$139
$702
$1,264
Median Chincoteague Island Tax Bill
$1,118
Median Accomack County Tax Bill
$687
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$3,209
Property Tax Bills Across Chincoteague Island, Accomack County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23336 | $245 | $702 | $1,118 | $1,658 | $2,225 |
| 23337 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | March 15 |
Links | |
|---|---|
| Accomack Tax Assessor | |
| Website | parcelviewer.geodecisions.com |