Franktown, Northampton County, Virginia Property Taxes

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

Median Franktown, VA effective property tax rate: 0.76%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Franktown, VA home value: $273,100
Median annual Franktown, VA tax bill: $2,076, $324 lower than the national median property tax bill of $2,400.

How are property taxes in Northampton calculated?

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

Last Updated March 1, 2025

Franktown, Northampton County, Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.69%

Estimate Property Tax Bill

$2,325

$2,157

Ownwell’s Franktown Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Franktown with just two data points. By entering your property's estimated assessed value, our calculator applies Franktown’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 Northampton. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Franktown, Northampton County, Virginia

Local government entities determine tax rates, which can differ significantly within a state. This is because each county calculates its required budget to provide services annually and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws are involved in setting tax rates and budgets, this is the annual process in a nutshell.

In Franktown, located in Northampton County, VA, the effective property tax rate is 0.76%, which is below the national median of 1.02%. This rate is consistent across Northampton County, with both the highest and lowest median tax rates also at 0.76%. This consistency can be beneficial for property owners, providing a predictable tax environment. Compared to the national median property tax bill of $2,400, residents in this region might find their property tax burden relatively manageable. Understanding these rates can help property owners in Franktown make informed decisions about their investments and financial planning.

Property Tax Rates Across Franktown, Northampton County, Virginia

Source: Ownwell

0.69%

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 Franktown Tax Rate

0.69%

Median Effective Northampton County Tax Rate

0.69%

Median Effective Virginia Tax Rate

0.90%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Franktown, Northampton County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
23354	0.69%	0.69%	0.69%	0.69%	0.69%

Source: Ownwell

Property Tax Assessment Values Across Franktown, Northampton County, Virginia

When examining property taxes in Franktown, 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 Northampton 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 Northampton County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Franktown. For example, the median home price in Franktown is $273,100, with tax bills ranging significantly across the county. 23354 has the highest median home price at $273,100.

Property Tax Assessment Values Across Franktown, Northampton County, Virginia

Source: Ownwell

$94,500

$215,725

$336,950

Median Franktown Market Value

$336,950

Median Northampton County Market Value

$201,300

Median Virginia Market Value

$323,500

Median United States Market Value

$235,294

Property Tax Assessment Values Across Franktown, Northampton County, Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
23354	$71,140	$168,475	$336,950	$518,450	$742,570

Source: Ownwell

Property Tax Bills Across Franktown, Northampton County, Virginia

In Franktown, Northampton County, VA, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the market value of the home, which in Franktown is influenced by factors such as location, property size, and market conditions. Homeowners in Franktown face a median property tax bill of $2,076, which is below the national median of $2,400. However, tax bills can vary significantly, with the 25th percentile at $1,015 and the 90th percentile reaching $4,787. These variations highlight the importance of ensuring your property is assessed accurately. Ownwell assists homeowners by reviewing property assessments and identifying potential discrepancies. By filing appeals and seeking exemptions, Ownwell helps reduce tax liabilities, potentially saving homeowners hundreds or even thousands of dollars annually. With expert guidance, homeowners can navigate the complexities of property tax assessments and ensure they are not overpaying.

Property Tax Bills Across Franktown, Northampton County, Virginia

Source: Ownwell

$647

$1,478

$2,308

Median Franktown Tax Bill

$2,308

Median Northampton County Tax Bill

$1,379

Median Virginia Tax Bill

$2,852

Median United States Tax Bill

$2,400

Property Tax Bills Across Franktown, Northampton County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
23354	$487	$1,154	$2,308	$3,551	$5,087

Source: Ownwell