Galax, Galax County, Virginia Property Taxes

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

Median Galax, VA effective property tax rate: 1.00%, slightly lower than the national median of 1.02%, but higher than the Virginia state median of 0.89%.
Median Galax, VA home value: $89,400
Median annual Galax, VA tax bill: $894, $1,506 lower than the national median property tax bill of $2,400.

How are property taxes in Galax calculated?

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

Last Updated March 1, 2025

Galax, Galax County, Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

Estimate Property Tax Bill

$1,352

$1,254

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

Property Tax Rates Across Galax, Galax 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 Galax’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 Galax, Galax County, Virginia

Source: Ownwell

1.00%

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 Galax Tax Rate

1.00%

Median Effective Galax County Tax Rate

1.00%

Median Effective Virginia Tax Rate

0.90%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Galax, Galax County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
24333	1.00%	1.00%	1.00%	1.00%	1.00%

Source: Ownwell

Property Tax Assessment Values Across Galax, Galax County, Virginia

When examining property taxes in Galax, 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 Galax 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 Galax County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Galax. For example, the median home price in Galax is $89,400, with tax bills ranging significantly across the county. 24333 has the highest median home price at $89,400.

Property Tax Assessment Values Across Galax, Galax County, Virginia

Source: Ownwell

$135,150

Median Galax Market Value

$135,150

Median Galax County Market Value

$135,150

Median Virginia Market Value

$323,500

Median United States Market Value

$235,294

Property Tax Assessment Values Across Galax, Galax County, Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
24333	$59,100	$89,425	$135,150	$191,175	$264,500

Source: Ownwell

Property Tax Bills Across Galax, Galax County, Virginia

Property tax bills in Galax, Virginia, are determined by assessing the market value of a property and applying the local tax rate. In Galax, the median home price is $89,400, which is significantly below the national median. The city's median property tax bill is $894, which is also lower than the national median of $2,400. Factors such as property size, location, and improvements can influence the assessed value, ultimately affecting the tax bill. Homeowners in Galax might find themselves paying tax bills ranging from $596 at the 25th percentile to $1,839 at the 90th percentile, illustrating the variability based on property characteristics and assessments. With such a range, it's crucial for homeowners to ensure their property is assessed accurately to avoid overpaying. Ownwell offers expertise in property tax appeals and exemptions, helping homeowners potentially reduce their tax liabilities. By analyzing assessments and identifying discrepancies, Ownwell can assist in appealing for fairer assessments, ensuring homeowners in Galax pay only their fair share.

Property Tax Bills Across Galax, Galax County, Virginia

Source: Ownwell

$1,352

Median Galax Tax Bill

$1,352

Median Galax County Tax Bill

$1,352

Median Virginia Tax Bill

$2,852

Median United States Tax Bill

$2,400

Property Tax Bills Across Galax, Galax County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
24333	$591	$894	$1,352	$1,912	$2,645

Source: Ownwell