Iron Gate, Alleghany County, Virginia Property Taxes

Name: Property Tax Bills Across Iron Gate, Alleghany County, Virginia
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median IRON GATE, VA effective property tax rate: 0.73%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median IRON GATE, VA home value: $52,000
Median annual IRON GATE, VA tax bill: $380, $2,020 lower than the national median property tax bill of $2,400.

How are property taxes in Alleghany calculated?

Property taxes in IRON GATE, VA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.

Understanding IRON GATE’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in IRON GATE, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Iron Gate, Alleghany County, Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.73%

Estimate Property Tax Bill

$377

$350

Ownwell’s IRON GATE Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in IRON GATE with just two data points. By entering your property's estimated assessed value, our calculator applies IRON GATE’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Alleghany. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Iron Gate, Alleghany County, Virginia

Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Iron Gate's effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S.

In Iron Gate, located in Alleghany County, the effective property tax rate is 0.73%, which is notably lower than the national median property tax rate of 1.02%. This lower rate can lead to significant savings for property owners compared to the national average. While Iron Gate's rate is consistent within its region, it is important to consider how this affects the overall property tax bill in comparison to the national median property tax bill of $2400. Understanding these differences can provide valuable insights for property owners looking to optimize their tax liabilities.

Property Tax Rates Across Iron Gate, Alleghany County, Virginia

Source: Ownwell

0.73%

Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.

Median Effective Iron Gate Tax Rate

0.73%

Median Effective Alleghany County Tax Rate

0.73%

Median Effective Virginia Tax Rate

0.90%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Iron Gate, Alleghany County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
24448	0.73%	0.73%	0.73%	0.73%	0.73%

Source: Ownwell

Property Tax Assessment Values Across Iron Gate, Alleghany County, Virginia

When examining property taxes in Iron Gate, VA, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Alleghany County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill. Assessment notices: In Alleghany County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Iron Gate. For example, the median home price in Iron Gate is $52,000, with tax bills ranging significantly across the county. 24448 has the highest median home price at $52,000.

Property Tax Assessment Values Across Iron Gate, Alleghany County, Virginia

Source: Ownwell

$48,300

$82,500

$116,700

Median Iron Gate Market Value

$51,600

Median Alleghany County Market Value

$87,250

Median Virginia Market Value

$323,500

Median United States Market Value

$235,294

Property Tax Assessment Values Across Iron Gate, Alleghany County, Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
24448	$25,000	$37,300	$51,600	$66,600	$98,900

Source: Ownwell

Property Tax Bills Across Iron Gate, Alleghany County, Virginia

In Iron Gate, VA, property tax bills are calculated based on the assessed value of a property, which is determined by local assessors in Alleghany County. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. With a median home price of $52,000 in Iron Gate, the property tax bill can vary significantly, from the 25th percentile at $276 to the 90th percentile at $706. This variation is influenced by factors such as property size, location, and market conditions. The median tax bill in Iron Gate is $380, which is significantly lower than the national median of $2,400, providing a relatively lower tax burden for homeowners in the area. Despite this, unexpected increases in assessed values can lead to higher tax bills, affecting homeowners' budgets. Ownwell offers valuable assistance by reviewing assessments, identifying potential errors, and filing appeals on behalf of homeowners. This service can lead to significant savings, ensuring property taxes remain fair and manageable.

Property Tax Bills Across Iron Gate, Alleghany County, Virginia

Source: Ownwell

$351

$592

$833

Median Iron Gate Tax Bill

$377

Median Alleghany County Tax Bill

$623

Median Virginia Tax Bill

$2,852

Median United States Tax Bill

$2,400

Property Tax Bills Across Iron Gate, Alleghany County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
24448	$179	$270	$377	$488	$723

Source: Ownwell