Property Tax in Isle of Wight County
via TaxByCounty
Isle of Wight moderately above national norm
Isle of Wight County's effective tax rate of 0.719% runs about 7% above the national median of 0.67%, placing it in the upper-middle tier nationally. Homeowners pay $2,399 annually on a median home value of $333,600, roughly matching the national median home price.
Isle of Wight above Virginia's average
Isle of Wight's 0.719% effective rate exceeds Virginia's state average of 0.671%, positioning it among the state's higher-tax counties. The median tax bill of $2,399 runs 22% above the state median of $1,960, reflecting both the elevated rate and strong property values.
Isle of Wight comparable to Henrico
Isle of Wight's 0.719% rate runs nearly identical to Henrico County's 0.724%, with both counties' residents paying roughly $2,400 annually. Both significantly outpace lower-tax areas like Henry County (0.502%) and are considerably lighter than Hopewell (0.969%).
Median Isle of Wight home costs $2,399
Isle of Wight homeowners with the median property value of $333,600 pay approximately $2,399 in annual taxes. Interestingly, mortgaged homes face notably higher taxes ($2,522) than unmortgaged properties ($2,090), a 20% difference suggesting targeted assessment variations by ownership type.
Review your assessment for savings
Isle of Wight homeowners should verify that their property assessments reflect current market values in their neighborhoods. Filing an appeal is straightforward and can result in material tax reductions if your home is overvalued.