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Updated 2025 Tax Year

Isle of Wight County
Property Tax Guide

Everything you need to know about property taxes in Isle of Wight County, VA. Rates, due dates, exemptions, and how it affects your monthly payment.

9 Official Sources
8 min read
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Quick Facts
Tax Rate
0.775% base rate ($0.775 per $100 assessed value), varies by special taxing districts
1st Due
Jun 5
2nd Due
Dec 5
Exemptions
4+ Available
Section 1

How Property Tax Works

Isle of Wight County, Virginia operates under a bi-annual property tax system that funds essential local services including public schools, law enforcement, fire and rescue services, road maintenance, and county administration. Property taxes are assessed on real estate and personal property, with real estate tax being the primary revenue source for county operations.

The county's real estate tax rate for FY 2025-2026 is $0.775 per $100 of assessed value, which translates to an effective rate of 0.775%. However, your actual tax rate may vary depending on your location within the county due to special taxing districts that may impose additional assessments for specific services or improvements. Property owners should verify their exact tax rate based on their specific address and any applicable district assessments.

Property taxes in Isle of Wight County are assessed by the Commissioner of the Revenue and collected by the County Treasurer's Office. The county follows Virginia state law requiring properties to be assessed at fair market value, with reassessments conducted periodically to ensure valuations reflect current market conditions.

Section 2

What Makes Up Your Tax Bill

ComponentRate (per $100)DescriptionLevy Year
Base Real Estate Tax$0.775General county operations, schools, public safetyFY 2025-2026
Personal Property Tax$4.50Vehicles, boats, trailers, business equipmentFY 2025-2026

Note: Tax rates may vary by location within Isle of Wight County due to special taxing districts. Some areas may have additional assessments for:

  • Special improvement districts
  • Fire district assessments
  • Water and sewer district fees
  • Bond debt service areas

Property owners should contact the Commissioner of Revenue at (757) 365-6233 to confirm the exact tax rate applicable to their specific property location and any special district assessments that may apply.

Section 3

When Are Property Taxes Due?

For the 2025/2026 tax year in Isle of Wight County, property taxes are due in two installments:

First Installment
Jun 5
Delinquent after Dec 10
Second Installment
Dec 5
Delinquent after Apr 10
Pro tip: If you pay through mortgage escrow, your lender splits these payments across your monthly mortgage. If you pay directly, set calendar reminders to avoid late penalties.
Section 4

Supplemental Tax Bills

Supplemental taxes in Isle of Wight County are additional property tax bills issued when there are significant changes to a property after the initial assessment. Common triggers include:

  • New Construction: When building permits result in completed improvements (new homes, additions, pools, etc.)
  • Change in Property Use: Converting residential to commercial use or vice versa
  • Discovery of Unreported Improvements: Previously unknown structures or improvements identified during inspections

Supplemental taxes are calculated by taking the difference between the new assessed value and the original assessed value, then applying the current tax rate for the remaining portion of the tax year. For example, if you complete a $100,000 home addition in March, and the county assesses it in April, you would owe supplemental taxes on that $100,000 increase ($100,000 ÷ 100 × $0.775 = $775) prorated for the remaining months of the fiscal year (approximately 75% or $581).

Example Calculation

Example 1: $300,000 Home

  • Assessed Value: $300,000
  • Applicable Credits: None applied
  • Net Taxable Value: $300,000
  • Annual Tax: $300,000 ÷ 100 × $0.775 = $2,325
  • Monthly Escrow: $194

Example 2: $600,000 Home (with Elderly/Disabled Credit)

  • Assessed Value: $600,000
  • Tax Credit Applied: $1,000 elderly/disabled tax credit (requires application)
  • Gross Tax: $600,000 ÷ 100 × $0.775 = $4,650
  • Annual Tax After Credit: $4,650 - $1,000 = $3,650
  • Monthly Escrow: $304

Example 3: $1,000,000 Home

  • Assessed Value: $1,000,000
  • Applicable Credits: None applied
  • Net Taxable Value: $1,000,000
  • Annual Tax: $1,000,000 ÷ 100 × $0.775 = $7,750
  • Monthly Escrow: $646

Important: Tax credits require annual application and approval. Credits reduce your final tax bill, not your assessed value. Contact the Commissioner of Revenue to apply for available credits.

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Section 5

Escrow & Property Taxes

Most mortgage lenders in Isle of Wight County require borrowers to maintain an escrow account for property tax payments. Your lender collects monthly payments equal to 1/12 of your estimated annual property tax bill, plus a cushion typically equal to 2-3 months of payments as required by federal law.

Property tax statements are mailed by October 30th each year, with payments due on June 5th and December 5th. Lenders typically pay the December 5th installment from your escrow account, and many also pay the June 5th installment. Your lender will receive a copy of your tax bill directly from the Treasurer's Office to ensure timely payment.

If your property taxes increase due to reassessment or rate changes, your lender will analyze your escrow account annually and may increase your monthly payment to cover the higher taxes. You'll receive written notice of any escrow payment changes at least 60 days before the new payment amount takes effect. Property owners should review their annual escrow analysis statement to verify accuracy and contact their lender with any questions about escrow calculations or payments.

How HonestCasa Helps
  • Understand whether your escrow is set correctly
  • See how rising taxes will change your monthly payment
  • Plan ahead instead of being surprised by "shortage" letters
Section 6

Frequently Asked Questions

Q: When are property taxes due in Isle of Wight County? A: Property taxes for FY 2025-2026 are due in two installments: June 5, 2026 and December 5, 2026. Tax bills are mailed by October 30, 2025.

Q: What tax credits are available and do I need to apply? A: Available tax credits include elderly/disabled credits, veteran disability credits, and rehabilitated property credits. All tax credits require annual application and are NOT automatic. Contact the Commissioner of Revenue at (757) 365-6233 for applications and deadlines.

Q: How does the homestead credit work? A: Virginia's homestead credit caps the annual increase in your property's assessed value for tax purposes (typically 10% maximum increase per year). This limits assessment growth but does not reduce market value. You must file an application to receive this protection.

Q: How often are properties reassessed? A: Isle of Wight County conducts general reassessments periodically as required by state law. Property owners receive notice of assessment changes and have the right to appeal within 30 days of the notice date.

Q: What are the penalties for late payment? A: Late payments incur interest and penalties as specified by Virginia Code. Contact the Treasurer's Office at (757) 365-6230 for specific penalty rates and payment arrangements.

Q: Can I pay my property taxes online? A: Yes, Isle of Wight County offers online payment options. Visit the county website or contact the Treasurer's Office for online payment portal information and accepted payment methods.

Q: What if I receive a supplemental tax bill? A: Supplemental bills are issued for new construction or property changes. These are separate from your regular tax bill and have their own due dates. Contact the Treasurer's Office if you have questions about supplemental assessments.

Q: Do special districts affect my tax rate? A: Yes, some areas of Isle of Wight County may have additional special district assessments for services like fire protection, water/sewer, or improvement districts. Your total tax rate may be higher than the base $0.775 rate depending on your location.

Verified Sources

Backed by 9 Official Government Sources

Every fact in this guide is sourced from official county, state, and federal documents.

01
operating & capital budget april 1, 2025co.isle-of-wight.va.us
02
State
Real Estate Taxisleofwight.gov
03
County
Tax Notice to County Residentsisleofwight.gov
04
State
Real Estate Assessmentsisleofwight.gov
05
Tax Doc
Tax Due Datesisleofwight.gov
06
State
Rehabilitated Real Estateisleofwight.gov
07
State
Real Estate Taxisleofwight.gov
08
Tax Doc
86-258 | Virginia Taxtax.virginia.gov
09
Tax Doc
NONRESIDENT - Virginia Taxtax.virginia.gov
All sources verified as of 2025 Tax Year

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