Property Taxes in Foster, Virginia
Median Foster, Virginia effective property tax rate: 0.56%, significantly lower than the national median of 1.02%, and lower than the Virginia state median of 0.90%.
Median Foster, Virginia home value: $225,750
Median annual Foster, Virginia tax bill: $1,256, lower than the national median property tax bill of $2,400.
How are property taxes in Mathews calculated?
Property taxes in Foster, 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 Foster's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Foster, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
How Does the Foster Property Tax Calculator Work?
Use this Foster property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Foster's median effective tax rate of 0.56% — based on actual property records in Mathews County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Foster's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Foster: rates range from 0.56% in 23056 to 0.56% in 23056, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Foster.
About Foster Property Taxes
About Property Taxes in Foster, Mathews, Virginia
Foster’s median effective property tax rate of 0.56% is lower than the Virginia state median of 0.90% and lower than the national median of 1.02%. This rate reflects the Mathews 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 Foster. Homeowners in the 23056 ZIP code carry a median effective rate of 0.56%, while those in the same ZIP code also pay 0.56%. This reflects how school district boundaries and local assessment districts are drawn across Mathews County. Understanding which part of Foster you live in can make a meaningful difference to your annual tax bill.
Foster homeowners who believe their assessed value is too high can file a formal appeal with the Tax Assessor before the June 1, 2026 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 Foster, Mathews 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 Foster'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 ÷ 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 Foster Tax Rate
0.56%
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 Mathews County Tax Rate
0.56%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.27%
Property Tax Rates Across Foster, Mathews County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23056 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Foster, Mathews County, Virginia
When examining property taxes in Foster, 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 Mathews 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 Mathews County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of May.
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 context, Foster’s median home price is $225,750, and the median tax bill is $1,256, compared with the national median property tax rate of 1.02% and national median property tax bill of $2,400. The highest median home price in the area is in 23056 at $225,750.
Property Tax Assessment Values Across Foster, Mathews County, Virginia
Source: Ownwell
$179,500
$271,850
$364,200
Median Foster Market Value
$225,750
Median Mathews County Market Value
$239,800
Median Virginia Market Value
$323,500
Median United States Market Value
$274,101
Property Tax Assessment Values Across Foster, Mathews County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23056 | $55,620 | $138,600 | $225,750 | $431,175 | $591,000 |
Source: Ownwell
Property Tax Bills Across Foster, Mathews County, Virginia
Property tax bills in Foster are calculated by multiplying a home’s assessed value by the local tax rate set by the county and other taxing authorities. The assessed value is based on the market value of the property, so homes with higher values generally face higher bills. For Foster homeowners, the median home price is $225,750, which helps explain why tax bills can vary widely from one property to another.
Several factors affect the final bill, including the home’s assessed value, any exemptions or appeals, and the specific tax rates applied in Mathews County. In Foster, the median property tax bill is $1,256, while bills can range from $776 at the 25th percentile to $2,415 at the 75th percentile. At the 90th percentile, bills reach $3,310, showing how much taxes can rise for higher-valued homes.
For homeowners, this means property taxes can have a meaningful impact on annual housing costs, especially when assessed values increase faster than expected.
Median Foster Tax Bill
$1,256
Median Mathews County Tax Bill
$1,334
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$3,209
Property Tax Bills Across Foster, Mathews County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23056 | $310 | $776 | $1,256 | $2,415 | $3,310 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | May 1 |
Links | |
|---|---|
| Mathews Tax Assessor | |
| Website | eservices-mathews.com |