Reva, Madison County, Virginia Property Taxes

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

Median REVA, VA effective property tax rate: 0.74%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median REVA, VA home value: $232,000
Median annual REVA, VA tax bill: $1,672, $728 lower than the national median property tax bill of $2,400.

How are property taxes in Madison calculated?

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

Last Updated March 1, 2025

Reva, Madison County, Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.74%

Estimate Property Tax Bill

$1,716

$1,592

Ownwell’s REVA Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in REVA with just two data points.

By entering your property's estimated assessed value, our calculator applies REVA’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 Madison County.

For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Reva, Madison 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 REVA’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 Reva, Madison County, Virginia

Source: Ownwell

0.74%

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 Reva Tax Rate

0.74%

Median Effective Madison County Tax Rate

0.74%

Median Effective Virginia Tax Rate

0.90%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Reva, Madison County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
22735	0.71%	0.74%	0.74%	0.74%	0.74%

Source: Ownwell

Property Tax Assessment Values Across Reva, Madison County, Virginia

When examining property taxes in REVA, 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 Madison 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 Madison 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. 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 REVA. For example, the median home price in REVA is $232,000, with tax bills ranging significantly across the county. 22735 has the highest median home price at $232,000.

Property Tax Assessment Values Across Reva, Madison County, Virginia

Source: Ownwell

$124,600

$194,925

$265,250

Median Reva Market Value

$231,900

Median Madison County Market Value

$212,100

Median Virginia Market Value

$323,500

Median United States Market Value

$235,294

Property Tax Assessment Values Across Reva, Madison County, Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
22735	$123,680	$157,650	$231,900	$314,250	$412,620

Source: Ownwell

Property Tax Bills Across Reva, Madison County, Virginia

In REVA, located in Madison County, VA, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the market value, and local authorities set the tax rate. Homeowners in Madison County face a median property tax bill of $1,672, which is lower than the national median of $2,400. However, tax bills can vary significantly, with amounts ranging from $1,134 at the 25th percentile to $2,980 at the 90th percentile. These variations are influenced by factors such as property size, location, and improvements. High property taxes can be a financial burden for homeowners, impacting their overall financial health. Ownwell offers valuable assistance by providing property tax appeal and exemption services. By analyzing property assessments and market data, Ownwell identifies opportunities for tax reductions, helping homeowners save on their property tax bills and ensuring they are not overpaying. This service is essential for homeowners looking to optimize their property-related expenses.

Property Tax Bills Across Reva, Madison County, Virginia

Source: Ownwell

$922

$1,443

$1,963

Median Reva Tax Bill

$1,672

Median Madison County Tax Bill

$1,540

Median Virginia Tax Bill

$2,852

Median United States Tax Bill

$2,400

Property Tax Bills Across Reva, Madison County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
22735	$898	$1,140	$1,672	$2,279	$3,015

Source: Ownwell