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County tax profile · 2026 · Census ACS + IRS data

Property Tax & Income in Hanover County, Virginia

Hanover County has an effective property tax rate of 0.66%. On the median home value of $400,400, that's roughly $2,627 per year. Median household income is $112,805.

Effective Property Tax Rate1
0.66%
median tax $2,627 ÷ median home $400,400
Median Home Value1
$400,400
owner-occupied
Median Household Income1
$112,805
per-capita $53,490
Est. Annual Tax on Median Home1
$2,627
at 0.66% effective rate

What you'll pay, at a glance

Property taxes are the largest local tax most homeowners pay. The effective rate measures the real tax bill as a share of home value — a more useful number than the nominal “mill rate,” because assessment practices vary county to county.

MetricHanover CountyVirginia (state context)
Effective property tax rate10.66%0.60%
Median home value1$400,400—
State income tax3top rate 5.75%top rate 5.75%
State sales tax35.77% combined5.77% combined

How this is calculated

The effective property tax rate is the median real-estate tax bill divided by the median home value — both for owner-occupied homes, from the U.S. Census Bureau's American Community Survey (ACS 5-year estimates)1. Median income is also from the ACS1. Federal and state income-tax figures use IRS2 and Tax Foundation3 data.

About Hanover County, VA

Buying a home in Hanover County means weighing a $400,400 median value against an effective property tax rate of 0.656%, which runs higher than Virginia's 0.601% statewide median and places the county 51st among 133. That rate translates into a median annual tax bill of $2,627, though the figure sits below the national median of 0.794%. Households here earn a median of $112,805, with per-capita income at $53,490, giving buyers meaningful capacity to absorb the tax load alongside a mortgage. Communities like Mechanicsville, Ashland, and Montpelier anchor the county, offering a range of settings from suburban to small-town. Anyone comparing Hanover against neighboring localities should note that its above-average state ranking reflects both its tax rate and the price of housing stock, so total carrying costs matter as much as the rate itself.

Frequently asked questions

What is the property tax rate in Hanover County, VA?
The effective rate is 0.66% — meaning the median tax bill equals about 0.66% of the median home value.
How much are property taxes on a median home?
On the median home ($400,400), the estimated annual bill is about $2,627.
Is Hanover County's rate high or low?
Compare it to the state median of 0.60% and the national average near 1.1%.
How does the effective rate differ from my mill rate?
A mill rate is the nominal levy per $1,000 of assessed value. The effective rate reflects what you actually pay after exemptions and assessments — it's the median tax bill as a share of median home value, so it better predicts your real cost.
Will a reassessment raise my tax bill?
Not necessarily. If your home's assessed value rises, your bill can go up, but only if the mill rate and exemptions stay flat. Contact the Hanover County assessor's office to review your current assessment.
Can I appeal my property tax assessment?
Yes. Most counties allow an appeal when you believe the assessed value exceeds the market value. File with the Hanover County assessor within the local deadline, typically with comparable sales as evidence.
Sources
[1] U.S. Census Bureau — ACS 5-Year (2023) — Median home value (B25077), median real-estate taxes (B25103), median household income (B19013), per-capita income (B19301).
[2] IRS — Statistics of Income — County income, AGI, and real-estate taxes paid.
[3] Tax Foundation — State income, sales, corporate, and estate/inheritance tax rates.