Norwood, Nelson County, Virginia Property Taxes

Name: Property Tax Bills Across Norwood, Nelson County, Virginia
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Norwood, VA effective property tax rate: 0.65%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%. Median Norwood, VA home value: $123,000. Median annual Norwood, VA tax bill: $479, $1,921 lower than the national median property tax bill of $2,400.

How are property taxes in Nelson County calculated?

Property taxes in Norwood, 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 Norwood’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Norwood, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Norwood, Nelson County, Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.65%

Estimate Property Tax Bill

$800

$742

Ownwell’s Norwood Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Norwood with just two data points.

By entering your property's estimated assessed value, our calculator applies Norwood’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.

This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Nelson.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Norwood, Nelson County, Virginia

Local government entities in Virginia, such as those in Norwood, set property tax rates that can vary significantly within the state. This variation occurs because each county estimates its required budget annually to provide essential services and divides that by the total assessed value of all taxable properties within its jurisdiction, resulting in the property tax rate.

While there are votes and laws involved in setting tax rates and budgets, this is the annual process in a nutshell. In Norwood, located in Nelson County, the effective property tax rate is 0.65%. This rate is notably lower than the national median property tax rate of 1.02%. This means that homeowners in Norwood might find themselves with a smaller property tax bill compared to the national median, which stands at $2,400.

Comparing Norwood’s effective property tax rate to other cities in Virginia and the U.S., it becomes clear that Norwood offers a more affordable property tax environment, reflecting the county's careful budgeting and valuation processes.

Property Tax Rates Across Norwood, Nelson County, Virginia

Source: Ownwell

0.65%

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 Norwood Tax Rate

0.65%

Median Effective Nelson County Tax Rate

0.65%

Median Effective Virginia Tax Rate

0.89%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Norwood, Nelson County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
24581	0.33%	0.65%	0.65%	0.65%	0.69%

Source: Ownwell

Property Tax Assessment Values Across Norwood, Nelson County, Virginia

When examining property taxes in Norwood, 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 Nelson 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 Nelson 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 Norwood.

For example, the median home price in Norwood is $123,000, with tax bills ranging significantly across the county. Zip code 24581 has the highest median home price at $123,000.

Property Tax Assessment Values Across Norwood, Nelson County, Virginia

Source: Ownwell

$40,000

$179,400

$318,800

Median Norwood Market Value

$123,000

Median Nelson County Market Value

$144,600

Median Virginia Market Value

$298,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Norwood, Nelson County, Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
24581	$7,800	$16,750	$123,000	$199,750	$953,320

Source: Ownwell

Property Tax Bills Across Norwood, Nelson County, Virginia

In Norwood, VA, property tax bills are determined by assessing the property's market value and applying the local tax rate. The median home price here is $123,000, which significantly influences the tax bill. For example, while the national median property tax bill is $2,400, Norwood's tax bills can range from as low as $112 at the 25th percentile to $2,714 at the 90th percentile. These figures highlight the variability in tax obligations for homeowners. The highest and lowest median tax bill both stand at $479 in the zip code 24581, which is notably lower than the national median. Such differences can impact homeowners' financial planning, as higher tax bills may strain budgets. Ownwell assists homeowners by offering property tax appeal and exemption services, potentially lowering tax bills and providing significant savings. By leveraging local expertise and a thorough understanding of property assessments, Ownwell helps ensure that homeowners in Norwood are not overpaying on their property taxes, offering peace of mind and financial relief.

Property Tax Bills Across Norwood, Nelson County, Virginia

Source: Ownwell

$260

$1,485

$2,709

Median Norwood Tax Bill

$479

Median Nelson County Tax Bill

$896

Median Virginia Tax Bill

$2,608

Median United States Tax Bill

$2,400

Property Tax Bills Across Norwood, Nelson County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
24581	$51	$112	$479	$1,335	$2,714

Source: Ownwell