Property Taxes in Wolftown, Virginia
Median Wolftown, Virginia effective property tax rate: 0.74%, significantly lower than the national median of 1.02%, and lower than the Virginia state median of 0.90%.
Median Wolftown, Virginia home value: $227,050
Median annual Wolftown, Virginia tax bill: $1,551, lower than the national median property tax bill of $2,400.
How are property taxes in Madison calculated?
Property taxes in Wolftown, Virginia 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 Wolftown's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Wolftown, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
How Does the Wolftown Property Tax Calculator Work?
Use this Wolftown property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Wolftown's median effective tax rate of 0.74% — based on actual property records in Madison County — to generate your estimate.
Enter your property's estimated assessed value — the figure used to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Wolftown's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Wolftown's rate is lower than Virginia's 0.90% median tax rate, and the median property tax bill is $1,551, which is $849 lower than the state median bill. In ZIP code 22748, the median tax bill is $1,551.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Wolftown.
About Wolftown Property Taxes
About Property Taxes in WOLFTOWN, Madison, Virginia
WOLFTOWN’s median effective property tax rate of 0.74% is lower than the Virginia state median of 0.90% and lower than the national median of 1.02%. This rate reflects the Madison County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across WOLFTOWN. Homeowners in ZIP code 22748 carry a median effective rate of 0.74%, and the same ZIP code also has the lowest median rate of 0.74%. That means the city’s rate is consistent across the area, but your assessed value still determines what you owe.
WOLFTOWN homeowners who believe their assessed value is too high can file a formal appeal with the Tax Assessor before the March 5, 2025 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Wolftown, Madison County, Virginia
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.
While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Wolftown's effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S.
Our median effective property tax rate (tax bill Ă· 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 Wolftown Tax Rate
0.74%
Our median effective property tax rate (tax bill Ă· 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 Madison County Tax Rate
0.74%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.27%
Property Tax Rates Across Wolftown, Madison County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22748 | 0.55% | 0.74% | 0.74% | 0.74% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Wolftown, Madison County, Virginia
When examining property taxes in Wolftown, Virginia, 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 Madison 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 Madison County, assessment notices are sent in February each year. They'll typically reach your mailbox by the middle of February.
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. For property owners in Wolftown, this helps explain how property taxes are determined and what affects the amount due.
For example, the median home price in Wolftown is $227,050, with tax bills ranging significantly across the county. 22748 has the highest median home price at $227,050.
Property Tax Assessment Values Across Wolftown, Madison County, Virginia
Source: Ownwell
$124,600
$194,925
$265,250
Median Wolftown Market Value
$227,050
Median Madison County Market Value
$212,100
Median Virginia Market Value
$323,500
Median United States Market Value
$274,101
Property Tax Assessment Values Across Wolftown, Madison County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22748 | $112,740 | $183,025 | $227,050 | $302,675 | $409,450 |
Source: Ownwell
Property Tax Bills Across Wolftown, Madison County, Virginia
Property tax bills in Wolftown are based on the assessed value of a home and the local tax rate set by Madison County and other taxing authorities. For a median home price of $227,050, the bill is calculated by applying the property tax rate to the home’s assessed market value, which means higher-valued homes generally face higher taxes.
Homeowners in Wolftown typically see a median property tax bill of $1,551, which is below the national median property tax bill of $2,400 and below the national median property tax rate of 1.02%. Bills can vary widely, with the 25th percentile at $1,191 and the 75th percentile at $2,146, while the 90th percentile reaches $2,468.
These differences reflect changes in home value, assessment, and local tax rates. For homeowners, that means a property tax bill can have a meaningful impact on annual housing costs, especially when market values rise or assessments increase.
Median Wolftown Tax Bill
$1,551
Median Madison County Tax Bill
$1,540
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$3,209
Property Tax Bills Across Wolftown, Madison County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22748 | $834 | $1,191 | $1,551 | $2,146 | $2,468 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | March 5 |
Links | |
|---|---|
| Madison Tax Assessor | |
| Website | www.webgis.net |