Salem, Salem County, Virginia Property Taxes
Median Salem, VA effective property tax rate: 1.20%, significantly higher than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Salem, VA home value: $184,700
Median annual Salem, VA tax bill: $2,215, $185 lower than the national median property tax bill of $2,400.
How are property taxes in Salem calculated?
Property taxes in Salem, 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 Salem’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Salem, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Salem, Salem County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.2%
Estimate Property Tax Bill
$2,216
$2,057
Property Tax Rates Across Salem, Salem County, Virginia
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 Salem Tax Rate
1.20%
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 Salem County Tax Rate
1.20%
Median Effective Virginia Tax Rate
0.89%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Salem, Salem County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24153 | 1.20% | 1.20% | 1.20% | 1.20% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Salem, Salem County, Virginia
When examining property taxes in Salem, 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 Salem 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 Salem 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 Salem.
For example, the median home price in Salem is $184,700, with tax bills ranging significantly across the county. Zip code 24153 has the highest median home price at $184,700.
Property Tax Assessment Values Across Salem, Salem County, Virginia
Source: Ownwell
$184,700
$184,700
$184,700
Median Salem Market Value
$184,700
Median Salem County Market Value
$184,700
Median Virginia Market Value
$298,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Salem, Salem County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24153 | $118,100 | $142,975 | $184,700 | $247,700 | $358,490 |
Source: Ownwell
Property Tax Bills Across Salem, Salem County, Virginia
In Salem, VA, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. With a median home price of $184,700, the property tax bills can vary significantly. For instance, the tax bill at the 25th percentile is $1,714, while at the 75th percentile, it rises to $2,968, and at the 90th percentile, it can reach $4,296. The median property tax bill in Salem is $2,215, which is slightly below the national median of $2,400.
Homeowners in Salem can be affected by these tax bills, as they represent a significant annual expense. Factors such as changes in the local tax rate or fluctuations in property values can impact the amount owed. Ownwell offers a solution by providing property tax appeal and exemption services, potentially reducing these costs. By analyzing individual property assessments and identifying discrepancies, Ownwell helps homeowners challenge and lower their tax bills, ensuring they only pay their fair share.
Median Salem Tax Bill
$2,215
Median Salem County Tax Bill
$2,215
Median Virginia Tax Bill
$2,608
Median United States Tax Bill
$2,400
Property Tax Bills Across Salem, Salem County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24153 | $1,417 | $1,714 | $2,215 | $2,968 | $4,296 |
Source: Ownwell