King William County, Virginia Property Taxes

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

Median King William County effective property tax rate: 0.58%, significantly lower than the national median of 1.02%.
Median King William County home value: $231,500
Median annual King William County tax bill: $1,247, $1,153 lower than the national median property tax bill of $2,400.

How are property taxes in King William County calculated?

Property taxes in King William County 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 your county's property tax system, exemptions, and reduction opportunities can lead to significant savings. Whether you live in King William or another part of King William County, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

King William County, Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.58%

Estimate Property Tax Bill

$1,343

$1,246

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

Property Tax Rates Across King William County, Virginia

Local government entities set tax rates, which can vary widely within a state. This is because each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is essentially the annual process. For instance, King William County in Virginia has an effective property tax rate that can be compared to other counties in Virginia or to the U.S. median property tax rate of 1.02%. This comparison highlights the variations in tax rates and how they reflect the specific needs and budgets of each county. In King William County, the effective property tax rate is lower than the national median, which can be appealing for property owners seeking lower tax burdens. Understanding these differences can help property owners make informed decisions about property investments and manage their tax liabilities effectively.

Property Tax Rates Across King William County, Virginia

Source: Ownwell

0.27%

0.43%

0.58%

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 King William County Tax Rate

0.58%

Median Effective Virginia Tax Rate

0.89%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across King William County, Virginia

City	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
Aylett	0.58%	0.58%	0.58%	0.58%	0.58%
Hanover	0.58%	0.58%	0.58%	0.58%	0.58%
King William	0.58%	0.58%	0.58%	0.58%	0.58%
Manquin	0.58%	0.58%	0.58%	0.58%	0.58%
Walkerton	0.58%	0.58%	0.58%	0.58%	0.58%
West Point	0.27%	0.27%	0.27%	0.58%	0.58%

Source: Ownwell

Property Tax Assessment Values Across King William County, Virginia

When examining property taxes in King William County, 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 William 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 King William 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 King William County.

For example, the median tax bill in King William County is $1,504, with tax bills ranging significantly across the county. Walkerton has the highest median home price at $262,000.

Property Tax Assessment Values Across King William County, Virginia

Source: Ownwell

$213,450

$237,725

$262,000

Median King William County Market Value

$231,500

Median Virginia Market Value

$298,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across King William County, Virginia

City	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
Aylett	$130,100	$193,300	$241,700	$303,900	$383,570
Hanover	$72,764	$153,600	$222,300	$280,500	$358,760
King William	$106,600	$167,880	$233,880	$294,000	$396,460
Manquin	$122,080	$164,300	$233,300	$307,850	$431,224
Walkerton	$100,360	$172,050	$262,000	$352,150	$468,760
West Point	$92,000	$149,225	$213,450	$289,775	$409,090

Source: Ownwell

Property Tax Bills Across King William County, Virginia

In King William County, VA, property tax bills are calculated by multiplying the assessed value of a home by the local tax rate. The assessed value is determined by the county assessor and reflects the market value of the property. Homeowners in King William County experience a range of property tax bills, with the 25th percentile at $758 and the 75th percentile at $1,631, indicating significant variance based on property value and location. The 90th percentile tax bill reaches $2,178, showing that some homeowners pay substantially more than the national median property tax bill of $2,400. In King William County, the highest median tax bill is found in Walkerton at $1,504, while West Point boasts the lowest at $707. These figures highlight how property taxes can vary widely even within the same county. For homeowners, understanding these factors is crucial as property taxes can significantly impact annual housing costs, influencing budget planning and long-term financial decisions.

Property Tax Bills Across King William County, Virginia

Source: Ownwell

$707

$1,106

$1,504

Median King William County Tax Bill

$1,247

Median Virginia Tax Bill

$2,608

Median United States Tax Bill

$2,400

Property Tax Bills Across King William County, Virginia

City	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
Aylett	$671	$1,106	$1,391	$1,749	$2,205
Hanover	$353	$816	$1,252	$1,600	$1,906
King William	$576	$937	$1,345	$1,687	$2,241
Manquin	$641	$943	$1,325	$1,777	$2,460
Walkerton	$568	$991	$1,504	$2,042	$2,719
West Point	$268	$461	$707	$1,187	$1,806

Source: Ownwell