Property Taxes in New Point, Virginia
Median New Point, 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 New Point, Virginia home value: $179,500
Median annual New Point, Virginia tax bill: $1,005, $1,395 lower than the national median property tax bill of $2,400.
How are property taxes in Mathews calculated?
Property taxes in New Point, 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 New Point's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in New Point, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
How Does the NEW POINT Property Tax Calculator Work?
Use this NEW POINT property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies NEW POINT'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 assessment office uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies NEW POINT'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 NEW POINT: rates range from 0.56% in 23125 to 0.56% in 23125, 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 NEW POINT.
About New Point Property Taxes
About Property Taxes in New Point, Mathews, Virginia
New Point’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 can vary by subdivision throughout the city.
Property tax rates are not uniform across New Point. Homeowners in ZIP code 23125 carry a median effective rate of 0.56%, and the same ZIP also has the lowest rate at 0.56%. That means there is no spread across the city’s reported ZIP code, but location still matters when school district boundaries and local assessments are considered in Mathews County.
New Point 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 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 New Point, 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 New Point'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 New Point 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 New Point, Mathews County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23125 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across New Point, Mathews County, Virginia
When examining property taxes in New Point, 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 the month when notices are sent.
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 New Point.
For example, the median home price in New Point is $179,500, with tax bills ranging significantly across the county. 23125 has the highest median home price at $179,500.00.
Property Tax Assessment Values Across New Point, Mathews County, Virginia
Source: Ownwell
$179,500
$271,850
$364,200
Median New Point Market Value
$179,500
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 New Point, Mathews County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23125 | $63,830 | $123,600 | $179,500 | $320,175 | $615,520 |
Source: Ownwell
Property Tax Bills Across New Point, Mathews County, Virginia
Property tax bills in New Point are calculated by applying the local tax rate to a home’s assessed value, which is based on the market value of the property. For a typical home priced around $179,500, the tax bill can vary depending on the assessment and any local tax rates or exemptions that apply. Homeowners with lower assessed values generally pay less, while those with higher assessed values may see larger bills.
In Mathews County, the median property tax bill is $1,005, which is below the national median property tax bill of $2,400 and reflects a lighter tax burden than many areas across the country. Bills in the area can still range widely, with the 25th percentile at $692 and the 75th percentile at $1,793. This means property taxes can have a meaningful impact on monthly housing costs, especially for homeowners whose assessed values rise over time.
Median New Point Tax Bill
$1,005
Median Mathews County Tax Bill
$1,334
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$3,209
Property Tax Bills Across New Point, Mathews County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23125 | $357 | $692 | $1,005 | $1,793 | $3,447 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | May 1 |
Links | |
|---|---|
| Mathews Tax Assessor | |
| Website | eservices-mathews.com |