Floyd, Floyd County, Virginia Property Taxes

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

Median Floyd, VA effective property tax rate: 0.65%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Floyd, VA home value: $139,100
Median annual Floyd, VA tax bill: $878, $1,522 lower than the national median property tax bill of $2,400.

How are property taxes in Floyd calculated?

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

Last Updated March 1, 2025

Floyd, Floyd County, Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.67%

Estimate Property Tax Bill

$940

$872

Ownwell’s Floyd Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Floyd with just two data points. By entering your property's estimated assessed value, our calculator applies Floyd’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 Floyd County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Floyd, Floyd County, Virginia

Local government entities set tax rates, which can vary widely within a state. 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 Floyd's effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S. Floyd's property tax rate stands at 0.65%, which is notably lower than the national median property tax rate of 1.02%. This means that property owners in Floyd benefit from a more affordable tax rate compared to many other regions across the country. Understanding these rates can offer valuable insights for property owners seeking to manage their expenses effectively.

Property Tax Rates Across Floyd, Floyd County, Virginia

Source: Ownwell

0.67%

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 Floyd Tax Rate

0.67%

Median Effective Floyd County Tax Rate

0.67%

Median Effective Virginia Tax Rate

0.90%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Floyd, Floyd County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
24091	0.67%	0.67%	0.67%	0.67%	0.67%

Source: Ownwell

Property Tax Assessment Values Across Floyd, Floyd County, Virginia

When examining property taxes in Floyd, 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 Floyd 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 Floyd 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 Floyd. For example, the median home price in Floyd is $139,100, with tax bills ranging significantly across the county. Zip code 24091 has the highest median home price at $139,100.

Property Tax Assessment Values Across Floyd, Floyd County, Virginia

Source: Ownwell

$95,100

$121,950

$148,800

Median Floyd Market Value

$140,300

Median Floyd County Market Value

$128,100

Median Virginia Market Value

$323,500

Median United States Market Value

$235,294

Property Tax Assessment Values Across Floyd, Floyd County, Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
24091	$40,370	$86,800	$140,300	$207,100	$279,910

Source: Ownwell

Property Tax Bills Across Floyd, Floyd County, Virginia

In Floyd, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in Floyd is $139,100, and the property tax rate is applied to this assessed value to determine the tax bill. Factors such as property size, location, and improvements can influence the assessed value. Homeowners in Floyd can expect a median property tax bill of $878, which is significantly lower than the national median property tax bill of $2,400. This lower tax bill can be attributed to the relatively low property values in the area. However, even with lower tax bills, homeowners may still be eligible for appeals or exemptions that could further reduce their tax liabilities. Ownwell provides expert property tax appeal and exemption services, helping homeowners navigate the complexities of property tax assessments. By leveraging their expertise, Ownwell can identify potential savings and ensure homeowners in Floyd are not overpaying on their property taxes, ultimately reducing their financial burden.

Property Tax Bills Across Floyd, Floyd County, Virginia

Source: Ownwell

$637

$812

$986

Median Floyd Tax Bill

$926

Median Floyd County Tax Bill

$842

Median Virginia Tax Bill

$2,852

Median United States Tax Bill

$2,400

Property Tax Bills Across Floyd, Floyd County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
24091	$224	$554	$926	$1,375	$1,853

Source: Ownwell