23123 Property Tax Rate

Property owners in ZIP code 23123 (New Canton, Virginia) pay a median of $916/year in property taxes on homes valued at $159,100. This translates to an effective tax rate of 0.58%, which is 15% below the Virginia state average of 0.67%.

The monthly property tax burden for a median-valued home in 23123 is approximately $76, which factors into escrow payments on mortgages. This ZIP code is located within Buckingham County. This is $1,327 less than the Virginia average of $2,243/year.

Compared to similar ZIP codes in Virginia, 23123 has lower property taxes. ZIP codes with similar effective rates include 24236 (0.58%) and 22727 (0.58%).

In New Canton, property taxes represent approximately 1.4% of the median household income of $65,288, providing context for the relative tax burden on homeowners in this area.

Virginia imposes no state property tax — only local county assessments; Buckingham County's 0.42% rate is set by local government. The Circuit Breaker relief program offers tax reductions for seniors (65+), disabled persons, and surviving military spouses based on household income; apply to the Buckingham County Assessor's Office with proof of age or disability and income documentation. Contact the Buckingham County Assessor immediately to file so benefits apply to your property in the current year.