Smyth County, Virginia Property Taxes

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

Median Smyth County effective property tax rate: 0.74%, significantly lower than the national median of 1.02%.
Median Smyth County home value: $72,000
Median annual Smyth County tax bill: $522, $1,878 lower than the national median property tax bill of $2,400.

How are property taxes in Smyth County calculated?

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

Last Updated March 1, 2025

Smyth County, Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.74%

Estimate Property Tax Bill

$533

$494

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

Property Tax Rates Across Smyth County, Virginia

Local government entities set tax rates, which can vary widely within a state. Why? Because annually, 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. Below, you can compare Smyth County's effective property tax rate to other counties in Virginia or the U.S. median property tax rate.

Property Tax Rates Across Smyth County, Virginia

Source: Ownwell

0.74%

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 Smyth County Tax Rate

0.74%

Median Effective Virginia Tax Rate

0.89%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Smyth County, Virginia

City	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
Atkins	0.74%	0.74%	0.74%	0.74%	0.74%
Ceres	0.64%	0.74%	0.74%	0.74%	0.74%
Chilhowie	0.74%	0.74%	0.74%	0.74%	0.74%
Damascus	0.73%	0.74%	0.74%	0.74%	0.74%
Marion	0.74%	0.74%	0.74%	0.74%	0.74%
Rural Retreat	0.68%	0.74%	0.74%	0.74%	0.74%
Saltville	0.74%	0.74%	0.74%	0.74%	0.74%
Sugar Grove	0.74%	0.74%	0.74%	0.74%	0.74%
Troutdale	0.74%	0.74%	0.74%	0.74%	0.74%
Broadford	N/A	N/A	N/A	N/A	N/A
Glade Spring	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Smyth County, Virginia

When examining property taxes in Smyth 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 Smyth 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 Smyth 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 Smyth County. For example, the median tax bill in Smyth County is $642.00, with tax bills ranging significantly across the county. Chilhowie has the highest median home price at $89,000.

Property Tax Assessment Values Across Smyth County, Virginia

Source: Ownwell

$45,650

$67,325

$89,000

Median Smyth County Market Value

$72,000

Median Virginia Market Value

$298,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Smyth County, Virginia

City	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
Atkins	$17,970	$41,875	$69,700	$104,425	$139,060
Ceres	$10,250	$23,850	$58,000	$95,575	$117,060
Chilhowie	$20,000	$51,200	$89,000	$130,400	$180,040
Damascus	$11,950	$35,575	$84,400	$121,200	$153,700
Marion	$22,040	$47,100	$78,900	$117,250	$165,620
Rural Retreat	$14,940	$30,950	$70,350	$107,350	$148,580
Saltville	$13,000	$26,000	$47,500	$83,025	$125,200
Sugar Grove	$10,000	$17,800	$54,500	$89,200	$124,020
Troutdale	$14,430	$28,275	$45,650	$85,550	$122,370
Broadford	N/A	N/A	N/A	N/A	N/A
Glade Spring	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Smyth County, Virginia

In Smyth County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as property size, location, and improvements can influence the assessed value. The median home price in Smyth County is $72,000, leading to a typical tax bill that homeowners can expect to pay annually.

The median property tax bill in Smyth County is notably lower than the national median of $2,400. Homeowners in this area might pay a tax bill ranging from the 25th percentile at $263 to the 90th percentile at $1,147, depending on various factors affecting their property's assessed value. For instance, in Chilhowie, the highest median tax bill is $642, while in Troutdale, it is significantly lower at $335. These tax bills can impact homeowners by affecting monthly budgets and long-term financial planning, making it crucial for property owners to understand how their tax bills are calculated.

Property Tax Bills Across Smyth County, Virginia

Source: Ownwell

$335

$489

$642

Median Smyth County Tax Bill

$522

Median Virginia Tax Bill

$2,608

Median United States Tax Bill

$2,400

Property Tax Bills Across Smyth County, Virginia

City	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
Atkins	$118	$301	$512	$764	$1,013
Ceres	$50	$150	$428	$698	$868
Chilhowie	$126	$352	$642	$944	$1,320
Damascus	$74	$211	$613	$897	$1,137
Marion	$148	$333	$576	$858	$1,215
Rural Retreat	$96	$213	$503	$768	$1,091
Saltville	$85	$186	$343	$608	$914
Sugar Grove	$67	$126	$384	$653	$898
Troutdale	$98	$199	$335	$625	$882
Broadford	N/A	N/A	N/A	N/A	N/A
Glade Spring	N/A	N/A	N/A	N/A	N/A

Source: Ownwell