Property Taxes in Selma, Virginia
Median Selma, Virginia effective property tax rate: 0.73%, significantly lower than the national median of 1.02%, and lower than the Virginia state median of 0.90%.
Median Selma, Virginia home value: $55,400
Median annual Selma, Virginia tax bill: $404, lower by $1,996 than the national median property tax bill of $2,400.
How are property taxes in Alleghany calculated?
Property taxes in Selma, Virginia 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 Selma's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Selma, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
How Does the Selma Property Tax Calculator Work?
Use this Selma property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Selma's median effective tax rate of 0.73% — based on actual property records in Alleghany County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessment process uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Selma's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Selma: rates range from 0.73% in 24474 to 0.73% in 24474, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Selma.
About Selma Property Taxes
About Property Taxes in Selma, Alleghany, Virginia
Selma’s median effective property tax rate of 0.73% is lower than the Virginia state median of 0.90% and lower than the national median of 1.02%. This rate reflects the Alleghany County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Selma. Homeowners in the 24474 ZIP code carry a median effective rate of 0.73%, while those in the lowest ZIP also pay 0.73%. Understanding which part of Selma you live in can make a meaningful difference to your annual tax bill.
Selma homeowners who believe their assessed value is too high can file a formal appeal with the Tax Assessor before the June 1, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Selma, Alleghany County, Virginia
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, 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 Selma's effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S.
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 Selma Tax Rate
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 Alleghany County Tax Rate
0.73%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.27%
Property Tax Rates Across Selma, Alleghany County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24474 | 0.73% | 0.73% | 0.73% | 0.73% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Selma, Alleghany County, Virginia
When examining property taxes in Selma, Virginia, 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 January.
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. For Selma, the median home price is $55,400, with tax bills ranging across the county. Zip code 24474 has the highest median home price at $55,400.
Property Tax Assessment Values Across Selma, Alleghany County, Virginia
Source: Ownwell
$48,300
$82,500
$116,700
Median Selma Market Value
$55,400
Median Alleghany County Market Value
$87,250
Median Virginia Market Value
$323,500
Median United States Market Value
$274,101
Property Tax Assessment Values Across Selma, Alleghany County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24474 | $26,760 | $39,550 | $55,400 | $74,050 | $102,180 |
Source: Ownwell
Property Tax Bills Across Selma, Alleghany County, Virginia
Selma property tax bills are based on the assessed value of a home, which local tax authorities use to estimate the property’s taxable worth. That assessed value is then multiplied by the applicable tax rate to determine the bill. For homeowners in Selma, the size of the bill depends mainly on the home’s market value, any exemptions that apply, and the local rate set for Alleghany County.
With a median home price of $55,400, Selma’s property tax bills are relatively modest compared with the national median property tax bill of $2,400. The median tax bill in the area is $404.00, and the 25th to 75th percentile range runs from $288 to $539, showing that many homeowners pay within a fairly narrow band. Higher-value homes or fewer exemptions can push bills upward, while lower assessed values can keep them down.
For homeowners, this means property taxes can have a meaningful impact on annual housing costs, even when the bill is below the national median.
Median Selma Tax Bill
$404
Median Alleghany County Tax Bill
$623
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$3,209
Property Tax Bills Across Selma, Alleghany County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24474 | $195 | $288 | $404 | $539 | $748 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | June 1 |
Links | |
|---|---|
| Alleghany Tax Assessor | |
| Website | www.bttaxpayerportal.com |