Honaker, Buchanan County, Virginia Property Taxes
Property Taxes in Honaker, Virginia
Median Honaker, Virginia effective property tax rate: 0.39%, significantly lower than the national median of 1.02%, and lower than the Virginia state median of 0.90%.
Median Honaker, Virginia home value: $48,000
Median annual Honaker, Virginia tax bill: $187, lower than the national median property tax bill of $2,400.
How are property taxes in Buchanan calculated?
Property taxes in Honaker, 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 Honaker's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Honaker, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Honaker, Buchanan County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.39%
Estimate Property Tax Bill
$187
$174
How Does the Honaker Property Tax Calculator Work?
Use this Honaker property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Honaker's median effective tax rate of 0.39% — based on actual property records in Buchanan 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 Honaker's median effective rate across all local levies, providing a more accurate estimate than applying a single county rate.
Your bill may vary by ZIP code within Honaker: rates range from 0.39% in 24260 to 0.39% in 24260, primarily due to differences in local levies and assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Honaker.
About Honaker Property Taxes
About Property Taxes in Honaker, Buchanan, Virginia
Honaker's median effective property tax rate of 0.39% is lower than the Virginia state median of 0.90% and lower than the national median of 1.02%. This rate reflects the Buchanan 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 Honaker. Homeowners in the 24260 ZIP code carry a median effective rate of 0.39%, while those in 24260 pay 0.39%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Buchanan County. Understanding which part of Honaker you live in can make a meaningful difference to your annual tax bill.
Honaker homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the 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 Honaker, Buchanan 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 Honaker'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 Honaker Tax Rate
0.39%
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 Buchanan County Tax Rate
0.39%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Honaker, Buchanan County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24260 | 0.39% | 0.39% | 0.39% | 0.39% | 0.39% |
Source: Ownwell
Property Tax Assessment Values Across Honaker, Buchanan County, Virginia
When examining property taxes in Honaker, 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 Buchanan County assessment office 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 Buchanan County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of the month.
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 Honaker.
For example, the median home price in Honaker is $48,000, with tax bills ranging significantly across the county. Zip code 24260 has the highest median home price at $48,000.
Property Tax Assessment Values Across Honaker, Buchanan County, Virginia
Source: Ownwell
$31,350
$42,075
$52,800
Median Honaker Market Value
$48,000
Median Buchanan County Market Value
$47,800
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Honaker, Buchanan County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24260 | $8,180 | $16,500 | $48,000 | $79,200 | $108,260 |
Source: Ownwell
Property Tax Bills Across Honaker, Buchanan County, Virginia
Property tax bills in Honaker are based on the assessed value of a home and the local tax rate set for Buchanan County. When a property’s assessed value rises, the tax bill can increase as well, even if the homeowner has not made any changes to the home. The median home price is $48,000, which helps explain why many bills remain relatively modest compared with higher-priced areas.
The amount a homeowner pays depends on how local assessments compare with market conditions and how the county applies its tax rate. In Honaker, the median tax bill is $187, with bills ranging from $64 at the 25th percentile to $309 at the 75th percentile and $422 at the 90th percentile. That means homeowners with similar homes can still see different bills based on assessed value and location.
For homeowners, property taxes are an ongoing cost of owning a home and can affect monthly budgets, especially when assessments increase faster than expected.
Median Honaker Tax Bill
$187
Median Buchanan County Tax Bill
$186
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Honaker, Buchanan County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24260 | $32 | $64 | $187 | $309 | $422 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates |
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Links | |
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| Buchanan Tax Assessor | |
| Website | egov.buchanancounty-va.gov |