Patrick County, Virginia Property Taxes

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

Median Patrick County effective property tax rate: 0.73%, significantly lower than the national median of 1.02%. Median Patrick County home value: $79,400. Median annual Patrick County tax bill: $580, which is $1,820 lower than the national median property tax bill of $2,400. How are property taxes in Patrick County calculated? Property taxes in Patrick 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 Stuart or another part of Patrick County, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Patrick County, Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.73%

Estimate Property Tax Bill

$580

$538

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

Property Tax Rates Across Patrick 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, resulting in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is essentially the annual process.

In Patrick County, Virginia, the effective property tax rate is 0.73%, which is below the national median property tax rate of 1.02%. This lower rate can result in significant savings for homeowners, especially when compared to the national median property tax bill of $2,400. Patrick County's rate is consistent across different areas, with Ararat being an example where the median tax rate remains at 0.73%.

These figures highlight the potential for reduced property tax burdens in Patrick County compared to many other regions. Homeowners in this area can benefit from a more manageable tax rate, which may contribute to a more affordable cost of living.

Property Tax Rates Across Patrick County, Virginia

Source: Ownwell

0.73%

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 Patrick County Tax Rate

0.73%

Median Effective Virginia Tax Rate

0.89%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Patrick County, Virginia

City	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
Ararat	0.73%	0.73%	0.73%	0.73%	0.73%
Bassett	0.73%	0.73%	0.73%	0.73%	0.73%
Cana	0.73%	0.73%	0.73%	0.73%	0.73%
Claudville	0.73%	0.73%	0.73%	0.73%	0.73%
Critz	0.73%	0.73%	0.73%	0.73%	0.73%
Fancy Gap	0.73%	0.73%	0.73%	0.73%	0.73%
Ferrum	0.73%	0.73%	0.73%	0.73%	0.73%
Floyd	0.73%	0.73%	0.73%	0.73%	0.73%
Hillsville	0.73%	0.73%	0.73%	0.73%	0.73%
Meadows Of Dan	0.73%	0.73%	0.73%	0.73%	0.73%
Patrick Springs	0.73%	0.73%	0.73%	0.73%	0.73%
Spencer	0.73%	0.73%	0.73%	0.73%	0.73%
Stuart	0.73%	0.73%	0.73%	0.73%	0.73%
Woolwine	0.73%	0.73%	0.73%	0.73%	0.73%
Mount Airy	N/A	N/A	N/A	N/A	N/A
Vesta	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Patrick County, Virginia

When examining property taxes in Patrick 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 Patrick County assessor's office 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 Patrick 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 Patrick County. For example, the median tax bill in Patrick County is $982, with tax bills ranging significantly across the county. Fancy Gap has the highest median home price at $134,550.

Property Tax Assessment Values Across Patrick County, Virginia

Source: Ownwell

$54,700

$94,625

$134,550

Median Patrick County Market Value

$79,400

Median Virginia Market Value

$298,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Patrick County, Virginia

City	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
Ararat	$19,240	$40,500	$75,000	$119,100	$177,320
Bassett	$12,400	$33,200	$76,200	$116,400	$173,740
Cana	$41,850	$60,975	$81,850	$106,600	$133,650
Claudville	$18,410	$36,650	$73,600	$119,250	$179,220
Critz	$22,320	$52,400	$85,400	$134,450	$181,980
Fancy Gap	$98,510	$115,400	$134,550	$171,375	$229,120
Ferrum	$11,210	$20,050	$54,700	$117,800	$182,570
Floyd	$49,820	$64,175	$92,850	$189,850	$249,240
Hillsville	$52,080	$63,100	$101,300	$154,650	$230,320
Meadows Of Dan	$27,200	$59,150	$101,800	$152,350	$243,100
Patrick Springs	$16,150	$42,075	$72,900	$112,100	$165,650
Spencer	$21,740	$42,900	$77,200	$117,700	$162,760
Stuart	$18,500	$40,600	$76,400	$124,425	$182,400
Woolwine	$20,100	$50,650	$88,200	$140,000	$199,900
Mount Airy	N/A	N/A	N/A	N/A	N/A
Vesta	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Patrick County, Virginia

In Patrick County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in Patrick County is $79,400, which significantly impacts the overall tax bill. Homeowners can expect a wide range of property tax bills, with the 25th percentile at $313, indicating lower tax burdens for some, while the 75th percentile reaches $928, reflecting higher costs for others. In comparison, the national median property tax bill is $2,400, showcasing Patrick County's relatively lower tax obligations. Factors such as the home's market value, location, and improvements can influence the assessed value. For instance, Fancy Gap has the highest median tax bill at $982, while Ferrum has the lowest at $399. These variations underscore the importance of understanding local property tax dynamics. Homeowners in Patrick County benefit from the overall lower property tax rates, but it's crucial to stay informed about assessments to manage their financial responsibilities effectively.

Property Tax Bills Across Patrick County, Virginia

Source: Ownwell

$399

$691

$982

Median Patrick County Tax Bill

$580

Median Virginia Tax Bill

$2,608

Median United States Tax Bill

$2,400

Property Tax Bills Across Patrick County, Virginia

City	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
Ararat	$140	$296	$548	$869	$1,294
Bassett	$91	$242	$556	$850	$1,268
Cana	$306	$445	$598	$778	$976
Claudville	$134	$268	$537	$871	$1,308
Critz	$163	$383	$623	$981	$1,328
Fancy Gap	$719	$842	$982	$1,251	$1,673
Ferrum	$82	$146	$399	$860	$1,333
Floyd	$364	$468	$678	$1,386	$1,819
Hillsville	$380	$461	$739	$1,129	$1,681
Meadows Of Dan	$199	$432	$743	$1,112	$1,775
Patrick Springs	$118	$307	$532	$818	$1,209
Spencer	$159	$313	$564	$859	$1,188
Stuart	$135	$296	$558	$908	$1,332
Woolwine	$147	$370	$644	$1,022	$1,459
Mount Airy	N/A	N/A	N/A	N/A	N/A
Vesta	N/A	N/A	N/A	N/A	N/A

Source: Ownwell