Hiwassee, Montgomery County, Virginia Property Taxes

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

Median Hiwassee, VA effective property tax rate: 0.70%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Hiwassee, VA home value: $226,700
Median annual Hiwassee, VA tax bill: $1,518, $882 lower than the national median property tax bill of $2,400.

How are property taxes in Montgomery calculated?

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

Last Updated March 1, 2025

Hiwassee, Montgomery County, Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.75%

Estimate Property Tax Bill

$1,692

$1,570

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

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

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

Property Tax Rates Across Hiwassee, Montgomery County, Virginia

Local government entities set tax rates, which can vary widely within a state. Each county estimates its required budget annually to provide services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. This process, while involving votes and laws, is essentially how property taxes are determined each year. In Hiwassee, located in Pulaski County, Virginia, the effective property tax rate offers a unique perspective when compared to other cities within the state. Virginia's median property tax rate stands at 0.70%, which is below the national median of 1.02%. This lower rate can be appealing for property owners looking to minimize their tax burden. However, it's essential to consider that even within Virginia, tax rates can vary significantly based on local government decisions and the specific needs of each county. Understanding these variations can help property owners make informed decisions and potentially save on their property tax bills.

Property Tax Rates Across Hiwassee, Montgomery County, Virginia

Source: Ownwell

0.75%

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 Hiwassee Tax Rate

0.75%

Median Effective Montgomery County Tax Rate

0.75%

Median Effective Virginia Tax Rate

0.90%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Hiwassee, Montgomery County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
24347	0.75%	0.75%	0.75%	0.75%	0.75%

Source: Ownwell

Property Tax Assessment Values Across Hiwassee, Montgomery County, Virginia

When examining property taxes in Hiwassee, 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 Montgomery 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 Montgomery 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 Hiwassee. For example, the median home price in Hiwassee is $226,700, with tax bills ranging significantly across the county. 24347 has the highest median home price at $226,700.

Property Tax Assessment Values Across Hiwassee, Montgomery County, Virginia

Source: Ownwell

$128,150

$226,725

$325,300

Median Hiwassee Market Value

$225,600

Median Montgomery County Market Value

$252,100

Median Virginia Market Value

$323,500

Median United States Market Value

$235,294

Property Tax Assessment Values Across Hiwassee, Montgomery County, Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
24347	$79,560	$146,400	$225,600	$373,100	$505,960

Source: Ownwell

Property Tax Bills Across Hiwassee, Montgomery County, Virginia

In Hiwassee, located in Montgomery County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by local assessors. The tax rate is then applied to this assessed value to determine the annual property tax bill. In this region, the median home price is $226,700, with median tax bills ranging from $1,025 at the 25th percentile to $3,554 at the 90th percentile. The highest and lowest median tax bills in the area are both $1,518, reflecting consistency in tax assessments. Compared to the national median property tax rate of 1.02% and a median bill of $2,400, Hiwassee's rates are relatively moderate. Homeowners in Hiwassee can benefit significantly from a property tax appeal, potentially lowering their tax burden. Ownwell specializes in identifying discrepancies in property assessments and can assist homeowners in appealing their tax bills, potentially saving them money. By leveraging expert knowledge and local data, Ownwell helps ensure fair property tax assessments and reduces unnecessary expenses for homeowners.

Property Tax Bills Across Hiwassee, Montgomery County, Virginia

Source: Ownwell

$961

$1,700

$2,439

Median Hiwassee Tax Bill

$1,692

Median Montgomery County Tax Bill

$1,892

Median Virginia Tax Bill

$2,852

Median United States Tax Bill

$2,400

Property Tax Bills Across Hiwassee, Montgomery County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
24347	$597	$1,098	$1,692	$2,798	$3,795

Source: Ownwell