Walkerton, King William County, Virginia Property Taxes
Median Walkerton, 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 Walkerton, VA home value: $262,000
Median annual Walkerton, VA tax bill: $1,504, $896 lower than the national median property tax bill of $2,400.
How are property taxes in King William 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 William County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.58%
Estimate Property Tax Bill
$1,512
$1,403
Property Tax Rates Across Walkerton, King William County, Virginia
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
0.58%
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
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Walkerton, King William County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23177 | 0.58% | 0.58% | 0.58% | 0.58% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Walkerton, King William 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 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 March. 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 $262,000, with tax bills ranging significantly across the county. Zip code 23177 has the highest median home price at $262,000.
Property Tax Assessment Values Across Walkerton, King William County, Virginia
Source: Ownwell
$218,200
$239,425
$260,650
Median Walkerton Market Value
$260,650
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 Walkerton, King William County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23177 | $99,730 | $173,025 | $260,650 | $344,800 | $471,750 |
Source: Ownwell
Property Tax Bills Across Walkerton, King William County, Virginia
In Walkerton, VA, property tax bills are determined by multiplying the assessed value of a home by the local tax rate set by King William County. The assessed value is typically a percentage of the property's market value, which is influenced by various factors like location, size, and home improvements. Homeowners in Walkerton experience a median property tax bill of $1,504, which is significantly below the national median of $2,400. This difference can be attributed to the local tax rate and assessed property values in the area.
However, property taxes can still be a financial burden for some homeowners. That's where Ownwell can make a difference. With expertise in property tax appeals and exemptions, Ownwell helps homeowners identify potential savings by ensuring their property is assessed fairly. By reviewing property assessments and filing appeals when necessary, Ownwell can help reduce tax bills, providing homeowners with financial relief and peace of mind.
Median Walkerton Tax Bill
$1,512
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 Walkerton, King William County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23177 | $578 | $995 | $1,512 | $2,000 | $2,736 |
Source: Ownwell