Glasgow, Rockbridge County, Virginia Property Taxes
Median Glasgow, VA effective property tax rate: 0.61%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%. Median Glasgow, VA home value: $137,300. Median annual Glasgow, VA tax bill: $825, $1,575 lower than the national median property tax bill of $2,400.
How are property taxes in Rockbridge calculated?
Property taxes in Glasgow, 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 Glasgow’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Glasgow, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Glasgow, Rockbridge County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.61%
Estimate Property Tax Bill
$847
$786
Property Tax Rates Across Glasgow, Rockbridge County, Virginia
Local government entities set tax rates, which can vary widely within a state. 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.
In Glasgow, located in Rockbridge County, Virginia, the effective property tax rate is 0.61%. This rate is notably lower than the national median property tax rate of 1.02%. Such a rate makes Glasgow an attractive option for property owners looking to minimize their property tax expenses. Additionally, the median property tax bill in Glasgow is significantly lower than the national median of $2,400, allowing residents to enjoy more financial flexibility. Comparing Glasgow’s rate to other cities in Virginia, it stands out as a cost-effective choice for homeowners. The lower tax rate can contribute to a more affordable cost of living, making Glasgow an appealing place for families and individuals alike.
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 Glasgow Tax Rate
0.61%
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 Rockbridge County Tax Rate
0.61%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Glasgow, Rockbridge County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24555 | 0.57% | 0.61% | 0.61% | 0.61% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Glasgow, Rockbridge County, Virginia
When examining property taxes in Glasgow, Virginia, 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 Rockbridge 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 Rockbridge County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Glasgow. For example, the median home price in Glasgow is $137,300, with tax bills ranging significantly across the county. Zip code 24555 has the highest median home price at $137,300.
Property Tax Assessment Values Across Glasgow, Rockbridge County, Virginia
Source: Ownwell
$123,400
$252,550
$381,700
Median Glasgow Market Value
$138,850
Median Rockbridge County Market Value
$223,900
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Glasgow, Rockbridge County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24555 | $59,520 | $92,325 | $138,850 | $228,650 | $389,680 |
Source: Ownwell
Property Tax Bills Across Glasgow, Rockbridge County, Virginia
Median Glasgow Tax Bill
$817
Median Rockbridge County Tax Bill
$1,269
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Glasgow, Rockbridge County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24555 | $328 | $525 | $817 | $1,358 | $2,110 |
Source: Ownwell