Hanover, King William County, Virginia Property Taxes

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

Median Hanover, VA effective property tax rate: 0.58%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Hanover, VA home value: $222,300
Median annual Hanover, VA tax bill: $1,252, $1,148 lower than the national median property tax bill of $2,400.

How are property taxes in King William calculated?

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

Last Updated March 1, 2025

Hanover, 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

$1,297

$1,204

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

Property Tax Rates Across Hanover, King William County, Virginia

Local government entities set property tax rates, leading to significant variation within a state. This is because each county annually estimates its budget to provide essential services and divides it 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 determining tax rates and budgets, this annual process is the core of how rates are set. In Hanover, Virginia, the effective property tax rate is notably lower than the national median of 1.02%. Virginia's median property tax rate is also below the national average, making it an attractive state for property owners. This lower rate can translate into substantial savings for homeowners, especially when compared to other states with higher tax rates. By understanding how these rates are determined and how they compare to national and state averages, property owners can make more informed decisions about their investments.

Property Tax Rates Across Hanover, 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 Hanover Tax Rate

0.58%

Median Effective King William County Tax Rate

0.58%

Median Effective Virginia Tax Rate

0.90%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Hanover, King William County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
23069	0.58%	0.58%	0.58%	0.58%	0.58%

Source: Ownwell

Property Tax Assessment Values Across Hanover, King William County, Virginia

When examining property taxes in Hanover, 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 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.

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 Hanover. For example, the median home price in Hanover is $222,300, with tax bills ranging significantly across the county. The zip code 23069 has the highest median home price at $222,300.

Property Tax Assessment Values Across Hanover, King William County, Virginia

Source: Ownwell

$218,200

$239,425

$260,650

Median Hanover Market Value

$223,700

Median King William County Market Value

$235,800

Median Virginia Market Value

$323,500

Median United States Market Value

$235,294

Property Tax Assessment Values Across Hanover, King William County, Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
23069	$76,560	$156,200	$223,700	$281,300	$359,260

Source: Ownwell

Property Tax Bills Across Hanover, King William County, Virginia

In Hanover, Virginia, 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 tax rate to determine the annual tax bill. Factors such as property size, location, and market conditions can influence the assessed value. Homeowners in Hanover face a median property tax bill of $1,252, which is below the national median of $2,400, making it relatively affordable. However, tax bills can range significantly, with the 25th percentile at $816 and the 90th percentile reaching $1,906, highlighting the variability in tax burdens among homeowners.

Ownwell offers valuable assistance to homeowners by providing property tax appeal and exemption services. By reviewing the assessed value of your property and identifying any discrepancies or opportunities for exemptions, Ownwell can help ensure that you are not overpaying on your property taxes. Our expert team works to secure the best possible outcome, potentially saving homeowners hundreds of dollars annually on their property tax bills.

Property Tax Bills Across Hanover, King William County, Virginia

Source: Ownwell

$688

$1,100

$1,512

Median Hanover Tax Bill

$1,288

Median King William County Tax Bill

$1,258

Median Virginia Tax Bill

$2,852

Median United States Tax Bill

$2,400

Property Tax Bills Across Hanover, King William County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
23069	$356	$869	$1,288	$1,621	$2,026

Source: Ownwell