Meadows Of Dan, Floyd County, Virginia Property Taxes
Median Meadows of Dan, 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 Meadows of Dan, VA home value: $120,400. Median annual Meadows of Dan, VA tax bill: $775, $1,625 lower than the national median property tax bill of $2,400.
How are property taxes in Floyd calculated?
Property taxes in Meadows of Dan, 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 Meadows of Dan’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Meadows of Dan, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Meadows Of Dan, Floyd County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.67%
Estimate Property Tax Bill
$816
$757
Property Tax Rates Across Meadows Of Dan, Floyd County, Virginia
Local government entities are responsible for setting tax rates, which can vary significantly within a state. Each county estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is essentially the annual process.
In Meadows of Dan, located in Floyd County, Virginia, the effective property tax rate is 0.65%. This rate is notably lower than the national median property tax rate of 1.02%. The median property tax rate in Virginia is also 0.65%, which means Meadows of Dan aligns with the state average. When comparing these rates, it's clear that homeowners in Meadows of Dan benefit from a more favorable property tax environment compared to many other regions across the country. The lower tax rate can be an attractive factor for potential homebuyers or property investors looking for opportunities in Virginia.
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 Meadows Of Dan 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
1.02%
Property Tax Rates Across Meadows Of Dan, Floyd County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24120 | 0.67% | 0.67% | 0.67% | 0.67% | 0.67% |
Source: Ownwell
Property Tax Assessment Values Across Meadows Of Dan, Floyd County, Virginia
When examining property taxes in Meadows of Dan, 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 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.
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 Meadows of Dan. For example, the median home price in Meadows of Dan is $120,400, with tax bills ranging significantly across the county. 24120 has the highest median home price at $120,400.
Property Tax Assessment Values Across Meadows Of Dan, Floyd County, Virginia
Source: Ownwell
$95,100
$121,950
$148,800
Median Meadows Of Dan Market Value
$121,800
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 Meadows Of Dan, Floyd County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24120 | $40,000 | $78,200 | $121,800 | $174,150 | $241,300 |
Source: Ownwell
Property Tax Bills Across Meadows Of Dan, Floyd County, Virginia
Median Meadows Of Dan Tax Bill
$809
Median Floyd County Tax Bill
$842
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Meadows Of Dan, Floyd County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24120 | $245 | $524 | $809 | $1,142 | $1,539 |
Source: Ownwell