23434 Property Tax Rate

Property owners in ZIP code 23434 (Suffolk, Virginia) pay a median of $2,655/year in property taxes on homes valued at $293,600. This translates to an effective tax rate of 0.90%, which is 34% above the Virginia state average of 0.67%.

The monthly property tax burden for a median-valued home in 23434 is approximately $221, which factors into escrow payments on mortgages. This ZIP code is located within Suffolk city. This is $412 more than the Virginia average of $2,243/year.

Compared to similar ZIP codes in Virginia, 23434 has higher property taxes. ZIP codes with similar effective rates include 23860 (0.90%) and 23662 (0.90%).

In Suffolk, property taxes represent approximately 3.5% of the median household income of $75,798, providing context for the relative tax burden on homeowners in this area.

Virginia has no state property tax — Suffolk city assessments are locally determined and do not automatically reset when you buy. Suffolk residents age 65+ or who are disabled may qualify for the Circuit Breaker program to reduce tax liability if income is below the threshold — contact the Suffolk Assessor's office to apply. File an assessment appeal with the Suffolk Assessor within 30 days of receiving your notice if the appraised value seems high.