Hopewell, Hopewell County, Virginia Property Taxes

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

Median Hopewell, VA effective property tax rate: 1.13%, significantly higher than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Hopewell, VA home value: $138,300
Median annual Hopewell, VA tax bill: $1,511, $889 lower than the national median property tax bill of $2,400.

How are property taxes in Hopewell calculated?

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

Last Updated March 1, 2025

Hopewell, Hopewell County, Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.13%

Estimate Property Tax Bill

$1,563

$1,450

Ownwell’s Hopewell Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Hopewell with just two data points. By entering your property's estimated assessed value, our calculator applies Hopewell’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 Hopewell. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Hopewell, Hopewell County, Virginia

Local government entities determine tax rates, which can vary significantly within a state. This variation occurs because each county annually estimates its budget requirements to provide essential services and divides that by the total assessed value of all taxable property within its jurisdiction. This calculation results in the property tax rate. Although setting tax rates and budgets involves votes and laws, this is the annual process in a nutshell. In Hopewell, located in Hopewell County, VA, the effective property tax rate is 1.13%. This rate is slightly above the national median property tax rate of 1.02%. When compared to other cities in Virginia, Hopewell's tax rate aligns closely with the state's median, reflecting a balance between local government needs and property values. However, the tax burden for property owners in Hopewell is notably higher than the national median property tax bill of $2,400. Understanding these rates helps property owners make informed decisions and highlights the importance of property tax appeals and exemptions in managing property tax obligations effectively.

Property Tax Rates Across Hopewell, Hopewell County, Virginia

Source: Ownwell

1.13%

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 Hopewell Tax Rate

1.13%

Median Effective Hopewell County Tax Rate

1.13%

Median Effective Virginia Tax Rate

0.89%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Hopewell, Hopewell County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
23860	0.57%	1.13%	1.13%	1.13%	1.61%

Source: Ownwell

Property Tax Assessment Values Across Hopewell, Hopewell County, Virginia

When examining property taxes in Hopewell, 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 Hopewell 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 Hopewell 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 Hopewell. For example, the median home price in Hopewell is $138,300, with tax bills ranging significantly across the county. Zip code 23860 has the highest median home price at $138,300.

Property Tax Assessment Values Across Hopewell, Hopewell County, Virginia

Source: Ownwell

$138,300

$196,100

$253,900

Median Hopewell Market Value

$138,300

Median Hopewell County Market Value

$138,500

Median Virginia Market Value

$298,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Hopewell, Hopewell County, Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
23860	$27,000	$98,100	$138,300	$186,800	$238,200

Source: Ownwell

Property Tax Bills Across Hopewell, Hopewell County, Virginia

In Hopewell, VA, property tax bills are calculated based on the assessed value of a home. This value is determined by the local assessor's office, which evaluates the property's market value and then applies the area's tax rate. With a median home price of $138,300, Hopewell's property tax bills can vary significantly. For instance, homeowners in the 25th percentile pay around $976, while those in the 75th percentile face bills of approximately $2,124. The 90th percentile sees tax bills reaching up to $2,771. Despite the variation, the highest and lowest median tax bills in Hopewell are both $1,511, which is below the national median tax bill of $2,400. This means homeowners in Hopewell generally experience lower tax burdens compared to the national average. However, these taxes can still pose a financial challenge. Ownwell offers services to help homeowners appeal their property tax assessments, potentially lowering their tax bills and easing their financial burden. By leveraging expert knowledge and local data, Ownwell aims to secure significant savings for homeowners.

Property Tax Bills Across Hopewell, Hopewell County, Virginia

Source: Ownwell

$1,511

$2,190

$2,869

Median Hopewell Tax Bill

$1,511

Median Hopewell County Tax Bill

$1,514

Median Virginia Tax Bill

$2,608

Median United States Tax Bill

$2,400

Property Tax Bills Across Hopewell, Hopewell County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
23860	$298	$976	$1,511	$2,124	$2,771

Source: Ownwell