Martinsville County, Virginia Property Taxes

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

Median Martinsville County effective property tax rate: 0.99%, slightly lower than the national median of 1.02%.
Median Martinsville County home value: $54,300
Median annual Martinsville County tax bill: $527, $1,873 lower than the national median property tax bill of $2,400.

How are property taxes in Martinsville County calculated?

Property taxes in Martinsville 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 Martinsville or another part of Martinsville County, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Martinsville County, Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.99%

Estimate Property Tax Bill

$538

$499

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

Property Tax Rates Across Martinsville County, Virginia

Local government entities are responsible for setting tax rates, and these can differ significantly within a state. This variation occurs because each county annually estimates its required budget for providing services and divides that by the total value of all taxable property within its jurisdiction. This calculation determines the property tax rate. Although votes and laws play a role in setting tax rates and budgets, this is essentially the annual process.

You can compare Martinsville County's effective property tax rate to other counties in Virginia or the U.S. median property tax rate.

Property Tax Rates Across Martinsville County, Virginia

Source: Ownwell

0.99%

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 Martinsville County Tax Rate

0.99%

Median Effective Virginia Tax Rate

0.89%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Martinsville County, Virginia

City	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
Martinsville	0.99%	0.99%	0.99%	0.99%	0.99%

Source: Ownwell

Property Tax Assessment Values Across Martinsville County, Virginia

When examining property taxes in Martinsville 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 Martinsville 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 Martinsville 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 Martinsville County. For example, the median tax bill in Martinsville County is $527, with tax bills ranging significantly across the county. Martinsville has the highest median home price at $54,300.

Property Tax Assessment Values Across Martinsville County, Virginia

Source: Ownwell

$54,300

Median Martinsville County Market Value

$54,300

Median Virginia Market Value

$298,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Martinsville County, Virginia

City	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
Martinsville	$20,000	$31,300	$54,300	$93,050	$181,100

Source: Ownwell

Property Tax Bills Across Martinsville County, Virginia

In Martinsville, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The tax rate is applied to this assessed value to calculate the annual tax bill. For homeowners in Martinsville, the median home price is $54,300, resulting in a property tax bill that can vary significantly. The 25th percentile tax bill is $309, while the 75th percentile reaches $885, and the 90th percentile climbs to $1,662. These figures highlight the range of tax burdens faced by residents, depending on their property's assessed value. Compared to the national median property tax rate of 1.02% and a median tax bill of $2,400, Martinsville's property taxes are relatively low. However, the tax bill can still impact homeowners, affecting their monthly budget and the overall cost of homeownership. Homeowners must stay informed about their property's assessed value and any changes in local tax rates to effectively manage their financial obligations.

Property Tax Bills Across Martinsville County, Virginia

Source: Ownwell

$527

Median Martinsville County Tax Bill

$527

Median Virginia Tax Bill

$2,608

Median United States Tax Bill

$2,400

Property Tax Bills Across Martinsville County, Virginia

City	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
Martinsville	$198	$309	$527	$885	$1,662

Source: Ownwell