Radford, Floyd County, Virginia Property Taxes

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

Median Radford, 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 Radford, VA home value: $96,750
Median annual Radford, VA tax bill: $629, $1,771 lower than the national median property tax bill of $2,400.

How are property taxes in Floyd calculated?

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

Last Updated March 1, 2025

Radford, 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

$637

$591

Ownwell’s Radford Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Radford with just two data points. By entering your property's estimated assessed value, our calculator applies Radford’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 Radford, 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 Radford’s effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S.

Property Tax Rates Across Radford, 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 Radford 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 Radford, Floyd County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
24141	0.67%	0.67%	0.67%	0.67%	0.67%

Source: Ownwell

Property Tax Assessment Values Across Radford, Floyd County, Virginia

When examining property taxes in Radford, 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 March. 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 Radford.

For example, the median home price in Radford is $96,750, with tax bills ranging significantly across the county. Zip code 24141 has the highest median home price at $96,750.

Property Tax Assessment Values Across Radford, Floyd County, Virginia

Source: Ownwell

$95,100

$121,950

$148,800

Median Radford Market Value

$95,100

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 Radford, Floyd County, Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
24141	$25,600	$55,125	$95,100	$144,300	$215,900

Source: Ownwell

Property Tax Bills Across Radford, Floyd County, Virginia

In Radford, Virginia, property tax bills are calculated based on the assessed value of a homeowner's property. The local government assesses properties to determine their taxable value. This assessed value is then multiplied by the local tax rate to calculate the annual property tax bill. Factors such as the property's size, location, and condition can influence its assessed value. Homeowners in Radford face a median property tax bill of $629, which is significantly lower than the national median of $2,400. However, tax bills can vary, with some in the 25th percentile paying around $342, while those in the 90th percentile might see bills as high as $1,409. These variations highlight the importance of ensuring an accurate assessment to avoid overpaying. Ownwell assists homeowners by reviewing their property assessments and identifying potential inaccuracies. By appealing incorrect assessments, Ownwell can help homeowners reduce their tax burden, ensuring they only pay their fair share. This service can lead to substantial savings, particularly for those facing higher tax bills.

Property Tax Bills Across Radford, Floyd County, Virginia

Source: Ownwell

$637

$812

$986

Median Radford Tax Bill

$637

Median Floyd County Tax Bill

$842

Median Virginia Tax Bill

$2,852

Median United States Tax Bill

$2,400

Property Tax Bills Across Radford, Floyd County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
24141	$172	$369	$637	$959	$1,447

Source: Ownwell