Hopewell, Prince George County, Virginia Property Taxes
Median Hopewell, VA effective property tax rate: 0.77%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Hopewell, VA home value: $74,050
Median annual Hopewell, VA tax bill: $500, $1,900 lower than the national median property tax bill of $2,400.
How are property taxes in Prince George County calculated?
Property taxes in Hopewell, 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 Hopewell’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Hopewell, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Hopewell, Prince George County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.82%
Estimate Property Tax Bill
$676
$628
Property Tax Rates Across Hopewell, Prince George County, Virginia
Local government entities set tax rates, which can vary widely within a state. Why is this the case? Each year, counties estimate the budget required to provide necessary services and divide this by the total value of all taxable property within their jurisdiction. This calculation results in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is essentially the annual process.
In Hopewell, located in Prince George County, VA, the effective property tax rate is 0.77%. This is below the national median property tax rate of 1.02%. When comparing Hopewell’s rate to other cities within Virginia, it remains consistent with the state’s median rate. This means property owners in Hopewell might enjoy relatively lower property tax bills compared to the national average, aligning with Virginia’s overall trend. Understanding these local variations is crucial for property owners looking to manage their tax liabilities effectively. By appealing or seeking exemptions, property owners can potentially reduce their tax burden further, keeping more money in their pockets.
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 Hopewell Tax Rate
0.82%
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 Prince George County Tax Rate
0.82%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Hopewell, Prince George County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23860 | 0.51% | 0.69% | 0.82% | 0.83% | 0.98% |
Source: Ownwell
Property Tax Assessment Values Across Hopewell, Prince George County, Virginia
When examining property taxes in Hopewell, 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 Prince George 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 Prince George 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 Hopewell.
For example, the median home price in Hopewell is $74,050, with tax bills ranging significantly across the county. Zip code 23860 has the highest median home price at $74,050.
Property Tax Assessment Values Across Hopewell, Prince George County, Virginia
Source: Ownwell
$82,500
$206,675
$330,850
Median Hopewell Market Value
$82,500
Median Prince George County Market Value
$262,000
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Hopewell, Prince George County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23860 | $7,300 | $34,350 | $82,500 | $214,050 | $395,700 |
Source: Ownwell
Property Tax Bills Across Hopewell, Prince George County, Virginia
Median Hopewell Tax Bill
$681
Median Prince George County Tax Bill
$2,050
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Hopewell, Prince George County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23860 | $224 | $232 | $681 | $1,766 | $3,879 |
Source: Ownwell