Montross, Richmond County, Virginia Property Taxes
Median Montross, VA effective property tax rate: 0.70%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Montross, VA home value: $145,234
Median annual Montross, VA tax bill: $1,017, $1,383 lower than the national median property tax bill of $2,400.
How are property taxes in Richmond calculated?
Property taxes in Montross, 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 Montross’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Montross, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Montross, Richmond County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.6%
Estimate Property Tax Bill
$1,345
$1,248
Property Tax Rates Across Montross, Richmond County, Virginia
Local government entities set tax rates, which can vary widely within a state. 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 votes and laws are involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Montross’s effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S.
In Montross, located in Richmond County, the property tax rate is 0.70%, which is significantly below the national median of 1.02%. Residents here enjoy lower property tax bills compared to the national average, making it an attractive location for homeowners. This lower rate can result in significant savings over time, especially when compared to areas with higher tax rates. Understanding these differences is crucial for property owners looking to optimize their tax liabilities. By exploring these insights, homeowners in Montross can make informed decisions about property investments and financial planning.
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 Montross Tax Rate
0.60%
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 Richmond County Tax Rate
0.60%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Montross, Richmond County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22520 | 0.60% | 0.60% | 0.60% | 0.60% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Montross, Richmond County, Virginia
When examining property taxes in Montross, 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 Richmond 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 Richmond 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 Montross. For example, the median home price in Montross is $145,234, with tax bills ranging significantly across the county.
Property Tax Assessment Values Across Montross, Richmond County, Virginia
Source: Ownwell
$161,835
$192,977
$224,119
Median Montross Market Value
$224,119
Median Richmond County Market Value
$193,705
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Montross, Richmond County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22520 | $69,090 | $186,434 | $224,119 | $299,614 | $324,566 |
Source: Ownwell
Property Tax Bills Across Montross, Richmond County, Virginia
Median Montross Tax Bill
$1,345
Median Richmond County Tax Bill
$1,145
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Montross, Richmond County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22520 | $415 | $1,092 | $1,345 | $1,798 | $1,947 |
Source: Ownwell