Property Taxes in Loretto, Virginia
Median Loretto, Virginia effective property tax rate: 0.73%, significantly lower than the national median of 1.02%, and lower than the Virginia state median of 0.90%.
Median Loretto, Virginia home value: $189,600
Median annual Loretto, Virginia tax bill: $1,332, lower than the national median property tax bill of $2,400.
How are property taxes in Essex calculated?
Property taxes in Loretto, 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 Loretto's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Loretto, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
How Does the Loretto Property Tax Calculator Work?
Use this Loretto property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Loretto's median effective tax rate of 0.73% — based on actual property records in Essex County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Loretto's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Loretto: rates range from 0.73% in 22509 to 0.73% in 22509, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Loretto.
About Loretto Property Taxes
About Property Taxes in Loretto, Essex, Virginia
Loretto’s median effective property tax rate of 0.73% is lower than the Virginia state median of 0.90% and lower than the national median of 1.02%. This rate reflects the Essex 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 Loretto. Homeowners in the 22509 ZIP code carry a median effective rate of 0.73%, while those in the same ZIP also pay 0.73%. Understanding how your assessed value is set can still make a meaningful difference to your annual tax bill, especially when the median home price is $189,600 and the median tax bill is $1,332.
Loretto homeowners who believe their assessed value is too high can file a formal appeal with the Essex Tax Assessor before the July 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 Loretto, Essex 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 Loretto's effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S.
Our median effective property tax rate (tax bill Ă· 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 Loretto Tax Rate
0.73%
Our median effective property tax rate (tax bill Ă· 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 Essex County Tax Rate
0.73%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.27%
Property Tax Rates Across Loretto, Essex County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22509 | 0.73% | 0.73% | 0.73% | 0.73% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Loretto, Essex County, Virginia
When examining property taxes in Loretto, 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 Essex County assessment office 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 are sent in the spring each year and typically reach your mailbox by the middle of the season. 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.
For example, the median home price in Loretto is $189,600, with a median tax bill of $1,332. The highest median home price is in 22509, where the median home price is $189,600.
Property Tax Assessment Values Across Loretto, Essex County, Virginia
Source: Ownwell
$120,826
$155,213
$189,600
Median Loretto Market Value
$189,600
Median Essex County Market Value
$160,657
Median Virginia Market Value
$323,500
Median United States Market Value
$274,101
Property Tax Assessment Values Across Loretto, Essex County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22509 | $80,100 | $122,100 | $189,600 | $296,910 | $497,741 |
Source: Ownwell
Property Tax Bills Across Loretto, Essex County, Virginia
Property tax bills in Loretto are calculated by applying the local tax rate to a home’s assessed value, which is based on the market value of the property. For homeowners, that means the tax bill depends on both how much the home is worth and the rate set by local taxing authorities. With a median home price of $189,600, property taxes can vary widely from one home to another depending on location, improvements, and assessment changes.
In Essex County, the median property tax bill is $1,332, which is below the national median property tax bill of $2,400 and below the national median property tax rate of 1.02%. Bills in the area also range from $887 at the 25th percentile to $2,242 at the 75th percentile, with the 90th percentile reaching $3,644. For homeowners, a higher assessed value or tax rate can mean a larger annual bill, while a lower assessment can reduce what is owed.
Median Loretto Tax Bill
$1,332
Median Essex County Tax Bill
$1,174
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$3,209
Property Tax Bills Across Loretto, Essex County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22509 | $554 | $887 | $1,332 | $2,242 | $3,644 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | July 1 |
Links | |
|---|---|
| Essex Tax Assessor | |
| Website | gis.vgsi.com |