Grayson County, Virginia Property Taxes
Property Taxes in Grayson County, Virginia
Median Grayson County effective property tax rate: 0.54%, significantly lower than the national median of 1.02%.
Median Grayson County home value: $108,700
Median annual Grayson County tax bill: $602, $1,798 lower than the national median property tax bill of $2,400.
How are property taxes in Grayson County calculated?
Property taxes in Grayson County 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 your county's property tax system, exemptions, and reduction opportunities can lead to significant savings. Whether you live in Grayson County or another part of Grayson County, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Grayson County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.54%
Estimate Property Tax Bill
$587
$545
How Does the Grayson County Property Tax Calculator Work?
Use this Grayson County property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Grayson County's median effective tax rate of 0.54% to generate your estimate.
Enter your property's estimated assessed value — the figure the appraisal district assigns for tax purposes, which is typically lower than market value after applicable exemptions. Our calculator uses the median effective rate for a more accurate estimate than the statutory millage rate alone.
Your actual bill may vary based on your specific exemptions, local school district levies, and any special assessment districts that apply to your property. Grayson County's median property tax bill of $602 is lower than Virginia's state median tax bill of $778 and far below the national median property tax bill of $2,400.
For a more precise estimate, scroll down to explore city and ZIP code-level tax rate trends across Grayson County.
Property Tax Rates Across Grayson County, Virginia
What Are Effective Property Tax Rates Across Grayson County?
Local government entities set tax rates, which vary widely across Grayson County. Each year, the county estimates its budget for public services and divides that total by the assessed value of all taxable property within its jurisdiction.
Below, compare Grayson County's effective property tax rate to other counties in Virginia or the U.S. median of 1.02%.
Grayson County's median effective rate stands at 0.54%, which is lower than the national median of 1.02%. Within Grayson County, the highest rate is found in ELK CREEK at 0.54%, while ELK CREEK has the lowest at 0.54%.
These variations reflect differences in local school district levies, special assessment districts assessments, and special district bonds — which compound the base county rate.
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 Grayson County Tax Rate
0.54%
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 Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Grayson County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Elk Creek | 0.54% | 0.54% | 0.54% | 0.54% | 0.54% |
| Fries | 0.54% | 0.54% | 0.54% | 0.54% | 0.54% |
| Galax | 0.54% | 0.54% | 0.54% | 0.54% | 0.54% |
| Independence | 0.54% | 0.54% | 0.54% | 0.54% | 0.54% |
| Ivanhoe | 0.54% | 0.54% | 0.54% | 0.54% | 0.54% |
| Mouth Of Wilson | 0.54% | 0.54% | 0.54% | 0.54% | 0.54% |
| Troutdale | 0.54% | 0.54% | 0.54% | 0.54% | 0.54% |
| Whitetop | 0.54% | 0.54% | 0.54% | 0.54% | 0.54% |
Source: Ownwell
Property Tax Assessment Values Across Grayson County, Virginia
When examining property taxes in Grayson County, 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 Grayson 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.
Assessment notices:
In Grayson 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 Grayson County.
For example, the median tax bill in Grayson County is $602, with tax bills ranging significantly across the county. Elk Creek has the highest median home price at $144,000.
Property Tax Assessment Values Across Grayson County, Virginia
Source: Ownwell
$77,300
$110,650
$144,000
Median Grayson County Market Value
$108,700
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Grayson County, Virginia
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Elk Creek | $46,640 | $84,250 | $144,000 | $232,650 | $379,140 |
| Fries | $22,280 | $48,900 | $77,300 | $125,800 | $208,580 |
| Galax | $33,880 | $62,900 | $101,300 | $162,600 | $266,500 |
| Independence | $39,850 | $69,300 | $123,450 | $198,300 | $323,200 |
| Ivanhoe | $32,600 | $46,300 | $77,800 | $165,900 | $255,400 |
| Mouth Of Wilson | $40,530 | $77,900 | $134,800 | $215,975 | $352,210 |
| Troutdale | $37,030 | $66,425 | $124,200 | $219,525 | $352,050 |
| Whitetop | $28,100 | $50,300 | $90,600 | $156,000 | $258,870 |
Source: Ownwell
Property Tax Bills Across Grayson County, Virginia
Property tax bills in Grayson County are based on the assessed value of a home and the local tax rate set by taxing authorities. When a property’s market value changes, the assessed value can change too, which directly affects the amount owed. Homeowners with higher-value properties generally face larger tax bills, while lower-value homes usually owe less.
In Grayson County, the median home price is $108,700, which helps explain why many tax bills remain below national levels. The county’s tax bills vary widely: the 25th percentile is $343, the 75th percentile is $1,033, and the 90th percentile reaches $1,691. By comparison, the national median property tax rate is 1.02% and the national median property tax bill is $2,400. That means even modest changes in assessed value can have a noticeable impact on what homeowners pay each year.
Median Grayson County Tax Bill
$602
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Grayson County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Elk Creek | $256 | $457 | $778 | $1,255 | $2,028 |
| Fries | $126 | $269 | $419 | $704 | $1,194 |
| Galax | $193 | $341 | $562 | $938 | $1,529 |
| Independence | $222 | $384 | $684 | $1,124 | $1,805 |
| Ivanhoe | $180 | $250 | $420 | $947 | $1,436 |
| Mouth Of Wilson | $219 | $416 | $740 | $1,189 | $1,921 |
| Troutdale | $200 | $354 | $665 | $1,161 | $1,787 |
| Whitetop | $164 | $302 | $512 | $900 | $1,467 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | January 1 |
Links | |
|---|---|
| Grayson Tax Assessor | |
| Website | gis.vgsi.com |