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Median Income In. Hanover County, Virginia. The median property tax (also known as real estate tax) in Hanover County is $1,922.00 per year, based on a median home value of $281,600.00 and a median effective property tax rate of 0.68% of property value.
(The sellers add this $245 to their selling price and deduct the $245 as a real estate tax.). Dennis and Beth's real estate tax deduction for their old and new homes is the sum of $214 and $487, or $701. They will enter this amount on Schedule A (Form 1040), line 6.n January 2015, the Browns receive their 2014 property tax statement for $752, which they will pay in 2015. The Browns owned their new home during the 2014 real property tax year for 243 days (May 3 to December 31). They will figure their 2015 deduction for taxes as follows.