Wake, Middlesex County, Virginia Property Taxes
Median Wake, VA effective property tax rate: 0.61%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Wake, VA home value: $234,850
Median annual Wake, VA tax bill: $1,418, $982 lower than the national median property tax bill of $2,400.
How are property taxes in Middlesex calculated?
Property taxes in Wake, 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 Wake’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Wake, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Wake, Middlesex County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.61%
Estimate Property Tax Bill
$1,436
$1,333
Property Tax Rates Across Wake, Middlesex County, Virginia
Local government entities set tax rates, and these can vary significantly within a state. Each year, counties estimate their required budget to provide services and divide that by the total value of all taxable property within their jurisdiction. This calculation determines the property tax rate. Although votes and laws play a role in setting tax rates and budgets, this is the basic annual process.
In Wake, located in Middlesex County, Virginia, the effective property tax rate is 0.61%. This rate aligns with the highest and lowest median tax rates in the county, which are also 0.61%. When compared to the national median property tax rate of 1.02%, Wake's rate is significantly lower. This means that residents in Wake benefit from a more favorable tax situation compared to the national average. Additionally, the median property tax bill in Wake is lower than the national median bill of $2,400. This comparison highlights the relatively low property tax burden for Wake residents, making it an attractive location for property owners looking for lower tax obligations.
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 Wake Tax Rate
0.61%
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 Middlesex County Tax Rate
0.61%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Wake, Middlesex County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23176 | 0.61% | 0.61% | 0.61% | 0.61% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Wake, Middlesex County, Virginia
When examining property taxes in Wake, 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 Middlesex 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 Middlesex County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of the season. 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 Wake.
For example, the median home price in Wake is $234,850, with tax bills ranging significantly across the county. Zip code 23176 has the highest median home price at $234,850.
Property Tax Assessment Values Across Wake, Middlesex County, Virginia
Source: Ownwell
$163,000
$240,375
$317,750
Median Wake Market Value
$235,400
Median Middlesex County Market Value
$257,250
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Wake, Middlesex County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23176 | $113,080 | $174,400 | $235,400 | $329,550 | $501,420 |
Source: Ownwell
Property Tax Bills Across Wake, Middlesex County, Virginia
Median Wake Tax Bill
$1,429
Median Middlesex County Tax Bill
$1,577
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Wake, Middlesex County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23176 | $620 | $1,062 | $1,429 | $2,025 | $3,383 |
Source: Ownwell