Property Taxes in Elk Creek, Virginia
Median Elk Creek, Virginia effective property tax rate: 0.54%, significantly lower than the national median of 1.02%, and lower than the Virginia state median of 0.90%.
Median Elk Creek, Virginia home value: $144,000
Median annual Elk Creek, Virginia tax bill: $778, $1,622 lower than the national median property tax bill of $2,400.
How are property taxes in Grayson County calculated?
Property taxes in Elk Creek, Virginia 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 Elk Creek's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Elk Creek, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
How Does the Elk Creek Property Tax Calculator Work?
Use this Elk Creek property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Elk Creek's median effective tax rate of 0.54% — based on actual property records in Grayson County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessment process uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Elk Creek's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Elk Creek: rates range from 0.54% in 24326 to 0.54% in 24326, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Elk Creek.
About Elk Creek Property Taxes
About Property Taxes in Elk Creek, Grayson, Virginia
Elk Creek's median effective property tax rate of 0.54% is lower than the Virginia state median of 0.90% and lower than the national median of 1.02%. This rate reflects the Grayson County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Elk Creek. Homeowners in the 24326 ZIP code carry a median effective rate of 0.54%, while those in 24326 pay 0.54%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Grayson County. Understanding which part of Elk Creek you live in can make a meaningful difference to your annual tax bill.
Elk Creek homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the January 1, 1900 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Elk Creek, Grayson County, Virginia
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? 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.
Below, you can compare Elk Creek's effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S.
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 Elk Creek 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 Grayson County Tax Rate
0.54%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.27%
Property Tax Rates Across Elk Creek, Grayson County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24326 | 0.54% | 0.54% | 0.54% | 0.54% | 0.54% |
Source: Ownwell
Property Tax Assessment Values Across Elk Creek, Grayson County, Virginia
When examining property taxes in Elk Creek, Virginia, 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 the month.
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. For example, the median home price in Elk Creek is $144,000, with a median tax bill of $778. The highest median home price is in 24326 at $144,000.
Property Tax Assessment Values Across Elk Creek, Grayson County, Virginia
Source: Ownwell
$77,300
$110,650
$144,000
Median Elk Creek Market Value
$144,000
Median Grayson County Market Value
$108,700
Median Virginia Market Value
$323,500
Median United States Market Value
$274,101
Property Tax Assessment Values Across Elk Creek, Grayson County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24326 | $46,640 | $84,250 | $144,000 | $232,650 | $379,140 |
Source: Ownwell
Property Tax Bills Across Elk Creek, Grayson County, Virginia
Property tax bills in Elk Creek are calculated by applying the local tax rate to a home’s assessed value, which is based on the market value of the property. For homeowners, that means the bill is shaped by both the value of the home and the rate set by local taxing authorities.
With a median home price of $144,000, tax bills in the area can vary depending on the assessed value and any local levies included in the final bill. The 25th percentile tax bill is $457, while the 75th percentile is $1,255 and the 90th percentile reaches $2,028. In ZIP code 24326, the median tax bill is $778.
These taxes help fund local services, but they also affect monthly housing costs and long-term affordability for homeowners. Compared with the national median property tax rate of 1.02% and the national median property tax bill of $2,400, Elk Creek homeowners often see lower bills, though individual amounts still depend on the home’s assessed value and local tax rates.
Median Elk Creek Tax Bill
$778
Median Grayson County Tax Bill
$602
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$3,209
Property Tax Bills Across Elk Creek, Grayson County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24326 | $256 | $457 | $778 | $1,255 | $2,028 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | January 1 |
Links | |
|---|---|
| Grayson Tax Assessor | |
| Website | gis.vgsi.com |