Henry, Henry County, Virginia Property Taxes
Median Henry, VA effective property tax rate: 0.56%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Henry, VA home value: $66,400
Median annual Henry, VA tax bill: $369, $2,031 lower than the national median property tax bill of $2,400.
How are property taxes in Henry calculated?
Property taxes in Henry, 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 Henry’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Henry, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Henry, Henry County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.56%
Estimate Property Tax Bill
$372
$345
Property Tax Rates Across Henry, Henry County, Virginia
Local government entities determine tax rates, which can vary considerably within a state. Each county annually 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.
In Henry, Virginia, the effective property tax rate is notably lower compared to other cities in the state and falls well below the national median property tax rate of 1.02%. This can be advantageous for property owners, as lower tax rates often translate to reduced annual tax bills, making homeownership more affordable in the region. The consistency in the tax rate across Henry County suggests a stable fiscal environment, which can be appealing to both current residents and potential homebuyers. Understanding these differences can empower property owners to make informed decisions about their investments and budget for future expenses.
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 Henry Tax Rate
0.56%
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 Henry County Tax Rate
0.56%
Median Effective Virginia Tax Rate
0.89%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Henry, Henry County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24102 | 0.56% | 0.56% | 0.56% | 0.56% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Henry, Henry County, Virginia
When examining property taxes in Henry, 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 Henry 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 Henry 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 Henry. For example, the median home price in Henry is $66,400, with tax bills ranging significantly across the county. Zip code 24102 has the highest median home price at $66,400.
Property Tax Assessment Values Across Henry, Henry County, Virginia
Source: Ownwell
$50,200
$68,450
$86,700
Median Henry Market Value
$66,400
Median Henry County Market Value
$71,300
Median Virginia Market Value
$298,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Henry, Henry County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24102 | $11,920 | $33,900 | $66,400 | $104,700 | $152,260 |
Source: Ownwell
Property Tax Bills Across Henry, Henry County, Virginia
Median Henry Tax Bill
$369
Median Henry County Tax Bill
$396
Median Virginia Tax Bill
$2,608
Median United States Tax Bill
$2,400
Property Tax Bills Across Henry, Henry County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24102 | $66 | $188 | $369 | $581 | $823 |
Source: Ownwell