Parksley, Accomack County, Virginia Property Taxes

Name: Property Tax Bills Across Parksley, Accomack County, Virginia
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Parksley, VA effective property tax rate: 0.60%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Parksley, VA home value: $92,700
Median annual Parksley, VA tax bill: $552, $1,848 lower than the national median property tax bill of $2,400.

How are property taxes in Accomack calculated?

Property taxes in Parksley, VA 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 Parksley’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Parksley, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Parksley, Accomack County, Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.6%

Estimate Property Tax Bill

$556

$516

Ownwell’s Parksley Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Parksley with just two data points. By entering your property's estimated assessed value, our calculator applies Parksley’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Accomack County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Parksley, Accomack County, Virginia

Local government entities determine tax rates, which can vary significantly within a state. This variation is primarily due to the annual process where each county assesses its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the basic annual process. In Parksley, located in Accomack County, the effective property tax rate reflects this process and can be compared to other cities in Virginia as well as the median property tax rates in Virginia and the U.S. Interestingly, Parksley’s property tax rate stands at 0.60%, which is lower than the national median of 1.02%. This means that property owners in Parksley benefit from a relatively lower tax burden compared to the national average, potentially making it an attractive location for homeowners.

Property Tax Rates Across Parksley, Accomack County, Virginia

Source: Ownwell

0.47%

0.54%

0.62%

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 Parksley Tax Rate

0.60%

Median Effective Accomack County Tax Rate

0.60%

Median Effective Virginia Tax Rate

0.89%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Parksley, Accomack County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
23421	0.60%	0.60%	0.60%	0.60%	0.60%

Source: Ownwell

Property Tax Assessment Values Across Parksley, Accomack County, Virginia

When examining property taxes in Parksley, VA, 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.

In Accomack County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Parksley. For example, the median home price in Parksley is $92,700, with tax bills ranging significantly across the county. Zip code 23421 has the highest median home price at $92,700.

Property Tax Assessment Values Across Parksley, Accomack County, Virginia

Source: Ownwell

$20,200

$116,150

$212,100

Median Parksley Market Value

$92,700

Median Accomack County Market Value

$110,500

Median Virginia Market Value

$298,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Parksley, Accomack County, Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
23421	$26,740	$47,500	$92,700	$151,400	$219,100

Source: Ownwell

Property Tax Bills Across Parksley, Accomack County, Virginia

In Parksley, Accomack County, VA, property tax bills are determined by applying the local tax rate to the assessed value of a property. The assessed value is typically a percentage of the market value, reflecting what the property might sell for under current market conditions. With a median home price of $92,700, homeowners in Parksley face a range of tax bills, from the 25th percentile at $283 to the 90th percentile at $1,304. The median tax bill is $552, which is significantly lower than the national median of $2,400. This discrepancy highlights the potential for savings when property assessments are accurately contested. Factors affecting these bills include changes in property values, local budget needs, and tax rate adjustments. Ownwell assists homeowners by offering expert property tax appeal services, ensuring assessments are fair and equitable. By identifying discrepancies and advocating for homeowners, Ownwell can help reduce tax burdens, ensuring residents pay only their fair share.

Property Tax Bills Across Parksley, Accomack County, Virginia

Source: Ownwell

$120

$718

$1,315

Median Parksley Tax Bill

$552

Median Accomack County Tax Bill

$645

Median Virginia Tax Bill

$2,608

Median United States Tax Bill

$2,400

Property Tax Bills Across Parksley, Accomack County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
23421	$159	$283	$552	$901	$1,304

Source: Ownwell