Norfolk, VA — income, home value, property tax, and sales tax.
ZIP code 23507, in Norfolk, ranks among Virginia's more affluent areas, with a median household income of $104,295 and per-capita income of $76,646. Homes here carry a median value of $555,200. The county-level property tax rate of 1.00% means a house at that median value would generate roughly $5,552 in annual property taxes before any exemptions. Sales taxes add 6.00% to most purchases in the area. Taken together, these figures describe a high-earning, high-value enclave where tax obligations scale with the price of local real estate.
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