Indian Valley, Floyd County, Virginia Property Taxes

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

Median Indian Valley, 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 Indian Valley, VA home value: $123,500
Median annual Indian Valley, VA tax bill: $803, $1,597 lower than the national median property tax bill of $2,400.

How are property taxes in Floyd calculated?

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

Last Updated March 1, 2025

Indian Valley, 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

$827

$768

Ownwell’s Indian Valley Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Indian Valley with just two data points. By entering your property's estimated assessed value, our calculator applies Indian Valley’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 Indian Valley, Floyd County, Virginia

Local government entities set tax rates, which can vary widely within a state. This is 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. In Indian Valley in Floyd County, VA, the effective property tax rate stands at 0.65%, which is below the national median of 1.02%. This lower rate can be beneficial for property owners, potentially resulting in significant savings compared to areas with higher rates. However, it's crucial to consider that a lower tax rate might also reflect the level of services provided by the local government. Comparing Indian Valley’s rate to other cities in Virginia and the U.S. can provide a clearer perspective on how property taxes impact residents financially. Understanding these differences is essential for property owners seeking to optimize their tax liabilities.

Property Tax Rates Across Indian Valley, 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 Indian Valley 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 Indian Valley, Floyd County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
24105	0.61%	0.67%	0.67%	0.67%	0.67%

Source: Ownwell

Property Tax Assessment Values Across Indian Valley, Floyd County, Virginia

When examining property taxes in Indian Valley, 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 Indian Valley. For example, the median home price in Indian Valley is $123,500, with tax bills ranging significantly across the county. Zip code 24105 has the highest median home price at $123,500.

Property Tax Assessment Values Across Indian Valley, Floyd County, Virginia

Source: Ownwell

$95,100

$121,950

$148,800

Median Indian Valley Market Value

$123,500

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 Indian Valley, Floyd County, Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
24105	$61,100	$96,850	$123,500	$164,800	$282,500

Source: Ownwell

Property Tax Bills Across Indian Valley, Floyd County, Virginia

In Indian Valley, VA, property tax bills are calculated based on the assessed value of a home. The local tax rate is applied to this assessed value to determine the annual tax bill. Factors such as the property's location, size, and improvements can influence its assessed value. Homeowners in Indian Valley can expect a median tax bill that is significantly lower than the national median of $2,400, with the highest median tax bill in the area being $803. This makes property taxes in Indian Valley more affordable compared to other regions. However, for many homeowners, property taxes remain a significant expense.

Ownwell helps homeowners in Indian Valley reduce their property tax bills by providing expert property tax appeal and exemption services. By analyzing property assessments and identifying discrepancies, Ownwell can potentially lower the assessed value of a home, leading to a reduced tax bill. This service not only saves homeowners money but also ensures they are paying a fair amount based on their property's true value.

Property Tax Bills Across Indian Valley, Floyd County, Virginia

Source: Ownwell

$637

$812

$986

Median Indian Valley Tax Bill

$827

Median Floyd County Tax Bill

$842

Median Virginia Tax Bill

$2,852

Median United States Tax Bill

$2,400

Property Tax Bills Across Indian Valley, Floyd County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
24105	$409	$649	$827	$1,066	$1,647

Source: Ownwell