Property Taxes in Wakefield, Virginia
Median Wakefield, Virginia effective property tax rate: 0.71%, significantly lower than the national median of 1.02%, and lower than the Virginia state median of 0.90%.
Median Wakefield, Virginia home value: $309,850
Median annual Wakefield, Virginia tax bill: $2,193, $207 lower than the national median property tax bill of $2,400.
How are property taxes in Southampton calculated?
Property taxes in Wakefield, Virginia 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 Wakefield's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Wakefield, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
How Does the Wakefield Property Tax Calculator Work?
Use this Wakefield property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Wakefield's median effective tax rate of 0.71% — based on actual property records in Southampton County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessment system uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Wakefield's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Wakefield: rates range from 0.71% in 23888 to 0.71% in 23888, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Wakefield.
About Wakefield Property Taxes
About Property Taxes in Wakefield, Southampton, Virginia
Wakefield’s median effective property tax rate of 0.71% is lower than the Virginia state median of 0.90% and lower than the national median of 1.02%. This rate reflects the Southampton County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Wakefield. Homeowners in the 23888 ZIP code carry a median effective rate of 0.71%, while those in the same ZIP also pay 0.71%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Southampton County. Understanding which part of Wakefield you live in can make a meaningful difference to your annual tax bill.
Wakefield homeowners who believe their assessed value is too high can file a formal appeal with the Tax Assessor before the June 1, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Wakefield, Southampton County, Virginia
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because 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 there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Wakefield's effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S.
Our median effective property tax rate (tax bill Ă· 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 Wakefield Tax Rate
0.71%
Our median effective property tax rate (tax bill Ă· 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 Southampton County Tax Rate
0.71%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.27%
Property Tax Rates Across Wakefield, Southampton County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23888 | 0.71% | 0.71% | 0.71% | 0.71% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Wakefield, Southampton County, Virginia
When examining property taxes in Wakefield, 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 Southampton County assessment office 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 Southampton County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of the month.
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. The median home price in Wakefield is $309,850, with tax bills centered at $2,193 and ranging from $1,220 at the 25th percentile to $3,942 at the 90th percentile. Wakefield’s median tax bill is slightly below the national median property tax bill of $2,400.
Property Tax Assessment Values Across Wakefield, Southampton County, Virginia
Source: Ownwell
$148,200
$229,025
$309,850
Median Wakefield Market Value
$309,850
Median Southampton County Market Value
$221,200
Median Virginia Market Value
$323,500
Median United States Market Value
$274,101
Property Tax Assessment Values Across Wakefield, Southampton County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23888 | $95,540 | $174,150 | $309,850 | $441,700 | $555,270 |
Source: Ownwell
Property Tax Bills Across Wakefield, Southampton County, Virginia
Wakefield property tax bills are calculated by applying the local tax rate to the home’s assessed value, which is based on the market value determined by the local assessor. The assessed value is the starting point for the bill, so changes in home value can directly affect what a homeowner owes each year.
Several factors influence the final tax bill, including the home’s location, size, condition, and any local tax rates set by the county and other taxing authorities. For Wakefield homeowners, the median home price is $309,850, and the property tax bill can vary widely, with the 25th percentile at $1,220 and the 75th percentile at $3,125.
This means some homeowners pay below the national median property tax bill of $2,400, while others pay more depending on how their property is assessed. In Wakefield, the median tax bill is $2,193 in ZIP code 23888, showing how property taxes can affect household budgets differently across the area.
Median Wakefield Tax Bill
$2,193
Median Southampton County Tax Bill
$1,561
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$3,209
Property Tax Bills Across Wakefield, Southampton County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23888 | $678 | $1,220 | $2,193 | $3,125 | $3,942 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | June 1 |
Links | |
|---|---|
| Southampton Tax Assessor | |
| Website | southamptoncova.interactivegis.com |