Galax, Carroll County, Virginia Property Taxes
Median Galax, VA effective property tax rate: 0.59%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Galax, VA home value: $96,050
Median annual Galax, VA tax bill: $565, $1,835 lower than the national median property tax bill of $2,400.
How are property taxes in Carroll calculated?
Property taxes in Galax, 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 Galax’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Galax, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Galax, Carroll County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.59%
Estimate Property Tax Bill
$567
$526
Property Tax Rates Across Galax, Carroll County, Virginia
Local government entities are responsible for setting property tax rates, which can differ significantly within a state. This variation occurs because each county calculates its required budget to fund public services and divides it by the total value of all taxable properties within its borders. This calculation determines the property tax rate. While votes and legislation play a role in establishing tax rates and budgets, this is the essence of the annual process.
In Galax, located in Carroll County, Virginia, the effective property tax rate is notably lower than the national median. This rate reflects the local government's approach to funding necessary services while considering the assessed values of properties within the area. Comparatively, Virginia's median property tax rate is also below the national figure, illustrating a trend of relatively lower property taxes in the state. By understanding these rates, property owners in Galax can better anticipate their tax liabilities and explore opportunities for appeals or exemptions. This insight is crucial for making informed decisions about property investments and managing expenses effectively.
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 Galax Tax Rate
0.59%
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 Carroll County Tax Rate
0.59%
Median Effective Virginia Tax Rate
0.89%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Galax, Carroll County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24333 | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Galax, Carroll County, Virginia
When examining property taxes in Galax, 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 Carroll 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.
In Carroll 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 Galax. For example, the median home price in Galax is $96,050, with tax bills ranging significantly across the county. Zip code 24333 has the highest median home price at $96,050.
Property Tax Assessment Values Across Galax, Carroll County, Virginia
Source: Ownwell
$51,750
$101,350
$150,950
Median Galax Market Value
$96,050
Median Carroll County Market Value
$88,700
Median Virginia Market Value
$298,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Galax, Carroll County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24333 | $20,800 | $53,300 | $96,050 | $144,050 | $204,550 |
Source: Ownwell
Property Tax Bills Across Galax, Carroll County, Virginia
In Galax, located in Carroll County, VA, property tax bills are calculated based on the assessed value of a home. This involves determining the property's market value and applying the local tax rate. The median home price in Galax is $96,050, with property tax rates generally lower than the national median of 1.02%. Homeowners in Galax can expect their tax bills to vary significantly, with the 25th percentile tax bill at $313 and the 75th percentile reaching $847. The highest median tax bill in the area is $565, which is notably below the national median property tax bill of $2,400. These variations can significantly impact homeowners' budgets.
Ownwell assists homeowners in Galax by providing property tax appeal and exemption services. By evaluating the assessed value and ensuring it's accurate, Ownwell can help reduce tax burdens. Our expertise in identifying discrepancies and navigating the appeal process ensures that homeowners pay only what's fair, potentially saving them hundreds on their annual property tax bills.
Median Galax Tax Bill
$565
Median Carroll County Tax Bill
$526
Median Virginia Tax Bill
$2,608
Median United States Tax Bill
$2,400
Property Tax Bills Across Galax, Carroll County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24333 | $122 | $313 | $565 | $847 | $1,204 |
Source: Ownwell