Property Taxes in Floyd, Virginia
Median Floyd, Virginia effective property tax rate: 0.67%, significantly lower than the national median of 1.02%, and lower than the Virginia state median of 0.90%.
Median Floyd, Virginia home value: $140,300
Median annual Floyd, Virginia tax bill: $926, lower than the national median property tax bill of $2,400.
How are property taxes in Floyd calculated?
Property taxes in Floyd, 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 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 April 13, 2026
How Does the Floyd Property Tax Calculator Work?
Use this Floyd property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Floyd's median effective tax rate of 0.67% — based on actual property records in Floyd 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 Floyd'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 Floyd: rates are 0.67% in 24091, and the median tax bill is $926. That is lower than Virginia's 0.90% median tax rate and $2,400 national median property tax bill.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Floyd.
About Floyd Property Taxes
About Property Taxes in Floyd, Floyd, Virginia
Floyd’s median effective property tax rate of 0.67% is lower than the Virginia state median of 0.90% and lower than the national median of 1.02%. This rate reflects the Floyd 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 Floyd. Homeowners in ZIP code 24091 carry a median effective rate of 0.67%, while those in 24091 pay 0.67%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Floyd County. Understanding which part of Floyd you live in can make a meaningful difference to your annual tax bill.
Floyd homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before March 31, 2025.
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 Floyd, Floyd 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 Floyd'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 Floyd Tax Rate
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 County Tax Rate
0.67%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.27%
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, 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 Floyd 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 are sent in the spring each year and typically reach property owners by the middle of the month. Each notice includes both the market value and assessed value, along with an estimate of your property tax bill.
For example, the median home price in Floyd is $140,300, with a median tax bill of $926. Tax bills range from $554 at the 25th percentile to $1,375 at the 75th percentile, and $1,853 at the 90th percentile.
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
$274,101
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
Floyd property tax bills are calculated by multiplying a home’s assessed value by the local tax rate, then applying any exemptions or adjustments that may reduce the final amount. The assessed value is based on the market value of the property, so changes in home prices can directly affect what homeowners owe each year.
With a median home price of $140,300, property tax bills in Floyd can vary widely depending on the home and its location. The 25th percentile tax bill is $554, while the 75th percentile reaches $1,375. For higher-valued properties, the 90th percentile tax bill rises to $1,853.
These differences matter because property taxes are a recurring cost of homeownership and can influence monthly budgets and long-term affordability. In Floyd, the median tax bill of $926.00 in ZIP code 24091 is below the national median property tax bill of $2,400, which can make local ownership costs more manageable for many homeowners.
Median Floyd Tax Bill
$926
Median Floyd County Tax Bill
$842
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$3,209
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
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | March 31 |
Links | |
|---|---|
| Floyd Tax Assessor | |
| Website | floyd.cama.concisesystems.com |