Property Taxes in Marion, Virginia
Median Marion, Virginia effective property tax rate: 0.59%, significantly lower than the national median of 1.02%, and lower than the Virginia state median of 0.90%.
Median Marion, Virginia home value: $120,000
Median annual Marion, Virginia tax bill: $699, $1,701 lower than the national median property tax bill of $2,400.
How are property taxes in Smyth calculated?
Property taxes in Marion, Virginia 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 Marion's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Marion, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
How Does the Marion Property Tax Calculator Work?
Use this Marion property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Marion's median effective tax rate of 0.59% — based on actual property records in Smyth County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessment office uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Marion's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Marion: rates range from 0.59% in 24354 to 0.59% in 24354, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Marion.
About Marion Property Taxes
About Property Taxes in Marion, Smyth, Virginia
Marion’s median effective property tax rate of 0.59% is lower than the Virginia state median of 0.90% and lower than the national median of 1.02%. This rate reflects the Smyth County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Marion. Homeowners in the 24354 ZIP code carry a median effective rate of 0.59%, while those in the same ZIP code pay 0.59%. This spread reflects how school district boundaries and local assessment districts are drawn across Smyth County. Understanding which part of Marion you live in can make a meaningful difference to your annual tax bill.
Marion homeowners who believe their assessed value is too high can file a formal appeal with the Tax Assessor before the January 1, 2025 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Marion, Smyth County, Virginia
As noted earlier, 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 Marion's effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S.
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 Marion Tax Rate
0.59%
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
0.59%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.27%
Property Tax Rates Across Marion, Smyth County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24354 | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Marion, Smyth County, Virginia
When examining property taxes in Marion, 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 Smyth County tax 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 Smyth County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of the month when notices are sent.
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 Marion.
For example, the median home price in Marion is $120,000, with tax bills ranging significantly across the county. 24354 has the highest median home price at $120,000.
Property Tax Assessment Values Across Marion, Smyth County, Virginia
Source: Ownwell
$74,200
$103,300
$132,400
Median Marion Market Value
$120,000
Median Smyth County Market Value
$109,200
Median Virginia Market Value
$323,500
Median United States Market Value
$274,101
Property Tax Assessment Values Across Marion, Smyth County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24354 | $28,490 | $71,800 | $120,000 | $174,325 | $241,320 |
Source: Ownwell
Property Tax Bills Across Marion, Smyth County, Virginia
What determines a property tax bill in Marion?
A property tax bill in Marion is based on the assessed value of a home and the local tax rate set by the county and other taxing authorities. When the assessed value rises, the tax bill can increase as well, even if the homeowner has not made any changes to the property. The median home price in Marion is $120,000, and the median property tax bill is $699.00, which is below the national median property tax bill of $2,400.
What factors affect homeowners most?
Location within Smyth County, local budgets, and the final assessed value all play a role in what a homeowner owes. Tax bills can vary widely, with the 25th percentile at $409, the 75th percentile at $1,020, and the 90th percentile at $1,417. For homeowners, this means two similar homes can receive different bills depending on how they are assessed and where they are located.
Median Marion Tax Bill
$699
Median Smyth County Tax Bill
$634
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$3,209
Property Tax Bills Across Marion, Smyth County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24354 | $151 | $409 | $699 | $1,020 | $1,417 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | January 1 |
Links | |
|---|---|
| Smyth Tax Assessor | |
| Website | gis.vgsi.com |