Walkerton, King And Queen County, Virginia Property Taxes

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

Median Walkerton, VA effective property tax rate: 0.55%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Walkerton, VA home value: $140,500
Median annual Walkerton, VA tax bill: $773, $1,627 lower than the national median property tax bill of $2,400.

How are property taxes in King and Queen calculated?

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

Last Updated March 1, 2025

Walkerton, King And Queen County, Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.5%

Estimate Property Tax Bill

$995

$923

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

Property Tax Rates Across Walkerton, King And Queen County, Virginia

Local government entities are responsible for setting tax rates, which can vary significantly within a state. Each year, counties estimate their required budget to fund essential services and then divide this by the total assessed value of all taxable property within their jurisdiction. This calculation determines the property tax rate. While setting tax rates and budgets involves votes and legislation, this process essentially outlines the annual procedure.

In Walkerton, located in King and Queen County, Virginia, the effective property tax rate is notably lower than the national median of 1.02%. This means that property owners in Walkerton may benefit from lower property tax bills compared to other regions across the United States. As property tax rates can have a significant impact on homeowners’ finances, understanding these rates is crucial for effective financial planning. When comparing Walkerton’s property tax rate to the median rates in Virginia and nationwide, it becomes evident that residents enjoy a favorable tax environment. This can be particularly advantageous for potential homebuyers and investors looking to maximize their return on investment.

Property Tax Rates Across Walkerton, King And Queen County, Virginia

Source: Ownwell

0.50%

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 Walkerton Tax Rate

0.50%

Median Effective King And Queen County Tax Rate

0.50%

Median Effective Virginia Tax Rate

0.90%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Walkerton, King And Queen County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
23177	0.50%	0.50%	0.50%	0.50%	0.50%

Source: Ownwell

Property Tax Assessment Values Across Walkerton, King And Queen County, Virginia

When examining property taxes in Walkerton, 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 King and Queen 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 King and Queen 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 Walkerton. For example, the median home price in Walkerton is $140,500, with tax bills ranging significantly across the county. 23177 has the highest median home price at $140,500.

Property Tax Assessment Values Across Walkerton, King And Queen County, Virginia

Source: Ownwell

$180,100

$207,625

$235,150

Median Walkerton Market Value

$199,000

Median King And Queen County Market Value

$194,000

Median Virginia Market Value

$323,500

Median United States Market Value

$235,294

Property Tax Assessment Values Across Walkerton, King And Queen County, Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
23177	$103,640	$144,300	$199,000	$307,300	$484,700

Source: Ownwell

Property Tax Bills Across Walkerton, King And Queen County, Virginia

In Walkerton, located in King and Queen County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. With the median home price at $140,500, homeowners in Walkerton face varying tax bills, with the 25th percentile paying around $549 and the 75th percentile paying about $1,289. The 90th percentile tax bill reaches $2,050, indicating a wide range of tax burdens. Compared to the national median property tax bill of $2,400, Walkerton residents generally pay less, but the tax burden can still be significant. Homeowners can benefit from a property tax appeal, which can potentially lower their tax bill by ensuring their property's assessed value is accurate. Ownwell assists homeowners by providing expert property tax appeal services, helping them identify discrepancies and secure potential savings, ultimately reducing their financial burden.

Property Tax Bills Across Walkerton, King And Queen County, Virginia

Source: Ownwell

$900

$1,038

$1,176

Median Walkerton Tax Bill

$995

Median King And Queen County Tax Bill

$970

Median Virginia Tax Bill

$2,852

Median United States Tax Bill

$2,400

Property Tax Bills Across Walkerton, King And Queen County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
23177	$518	$722	$995	$1,536	$2,424

Source: Ownwell