Wachapreague, Accomack County, Virginia Property Taxes
Median Wachapreague, 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 Wachapreague, VA home value: $116,900
Median annual Wachapreague, VA tax bill: $696, $1,704 lower than the national median property tax bill of $2,400.
How are property taxes in Accomack County calculated?
Property taxes in Wachapreague, 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 Wachapreague’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Wachapreague, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Wachapreague, Accomack County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.6%
Estimate Property Tax Bill
$701
$651
Property Tax Rates Across Wachapreague, Accomack County, Virginia
Local government entities set tax rates, which can vary widely within a state. This variation occurs because each county annually estimates its budgetary needs for services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Although the process involves votes and laws, this is the general method used each year.
For instance, Wachapreague in Accomack County, Virginia, has a property tax rate that you can compare to other cities in Virginia and the national median. Wachapreague's effective property tax rate is significantly below the national median of 1.02%, offering a more affordable option compared to many other areas across the U.S. This lower rate can result in substantial savings for property owners, making Wachapreague an attractive location for those seeking lower property tax liabilities.
Understanding these rates and how they are determined can empower property owners to make informed decisions about their investments and potential savings. By exploring property tax appeal and exemption services, residents can further optimize their tax obligations and maximize their financial benefits.
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 Wachapreague Tax Rate
0.60%
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
0.60%
Median Effective Virginia Tax Rate
0.89%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Wachapreague, Accomack County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23480 | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Wachapreague, Accomack County, Virginia
When examining property taxes in Wachapreague, 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 May. 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 Wachapreague.
For example, the median home price in Wachapreague is $116,900, with tax bills ranging significantly across the county. The zip code 23480 has the highest median home price at $116,900.
Property Tax Assessment Values Across Wachapreague, Accomack County, Virginia
Source: Ownwell
$20,200
$116,150
$212,100
Median Wachapreague Market Value
$116,900
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 Wachapreague, Accomack County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23480 | $41,240 | $83,200 | $116,900 | $154,000 | $214,080 |
Source: Ownwell
Property Tax Bills Across Wachapreague, Accomack County, Virginia
Median Wachapreague Tax Bill
$696
Median Accomack County Tax Bill
$645
Median Virginia Tax Bill
$2,608
Median United States Tax Bill
$2,400
Property Tax Bills Across Wachapreague, Accomack County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23480 | $245 | $495 | $696 | $916 | $1,274 |
Source: Ownwell