Property Taxes in Gum Spring, Virginia
Median Gum Spring, Virginia effective property tax rate: 0.53%, significantly lower than the national median of 1.02%, and lower than the Virginia state median of 0.90%.
Median Gum Spring, Virginia home value: $318,000
Median annual Gum Spring, Virginia tax bill: $1,643, $757 lower than the national median property tax bill of $2,400.
How are property taxes in Goochland calculated?
Property taxes in Gum Spring, 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 Gum Spring's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Gum Spring, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
How Does the Gum Spring Property Tax Calculator Work?
Use this Gum Spring property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Gum Spring's median effective tax rate of 0.53% — based on actual property records in Goochland County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessment process uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Gum Spring'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 Gum Spring: rates range from 0.53% in 23065 to 0.53% in 23065, 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 Gum Spring.
About Gum Spring Property Taxes
About Property Taxes in Gum Spring, Goochland, Virginia
Gum Spring’s median effective property tax rate of 0.53% is lower than the Virginia state median of 0.90% and lower than the national median of 1.02%. This rate reflects the Goochland 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 Gum Spring. Homeowners in the 23065 ZIP code carry a median effective rate of 0.53%, while those in 23065 pay 0.53%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Goochland County. Understanding which part of Gum Spring you live in can make a meaningful difference to your annual tax bill.
Gum Spring 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 Gum Spring, Goochland 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 Gum Spring'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 ÷ 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 Gum Spring Tax Rate
0.53%
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 Goochland County Tax Rate
0.53%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.27%
Property Tax Rates Across Gum Spring, Goochland County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23065 | 0.53% | 0.53% | 0.53% | 0.53% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Gum Spring, Goochland County, Virginia
When examining property taxes in Gum Spring, 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 Goochland 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:
In Goochland County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of January.
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 Gum Spring.
For example, the median home price in Gum Spring is $318,000, with tax bills ranging significantly across the county. 23065 has the highest median home price at $318,000.
Property Tax Assessment Values Across Gum Spring, Goochland County, Virginia
Source: Ownwell
$260,250
$554,950
$849,650
Median Gum Spring Market Value
$318,000
Median Goochland County Market Value
$484,200
Median Virginia Market Value
$323,500
Median United States Market Value
$274,101
Property Tax Assessment Values Across Gum Spring, Goochland County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23065 | $188,190 | $248,375 | $318,000 | $422,550 | $531,660 |
Source: Ownwell
Property Tax Bills Across Gum Spring, Goochland County, Virginia
Property tax bills in Gum Spring are calculated by applying the local tax rate to a home’s assessed value, which is based on the market value of the property. Local assessors consider the home itself and the land it sits on, then the tax rate set by the county determines the final bill. For homeowners, this means a higher assessed value can lead to a larger tax bill, even if the home has not been sold.
With a median home price of $318,000, tax bills in the area can vary widely depending on the property’s assessed value and any local exemptions or adjustments. The 25th percentile tax bill is $1,282, while the 75th percentile is $2,200 and the 90th percentile is $2,725. The median tax bill in ZIP code 23065 is $1,643, showing how much bills can differ within the same area. For many homeowners, understanding how assessed value and local rates work is key to anticipating annual property tax costs.
Median Gum Spring Tax Bill
$1,643
Median Goochland County Tax Bill
$2,439
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$3,209
Property Tax Bills Across Gum Spring, Goochland County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23065 | $976 | $1,282 | $1,643 | $2,200 | $2,725 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | February 17 |
Links | |
|---|---|
| Goochland Tax Assessor | |
| Website | gis.co.goochland.va.us |