Saltville, Smyth County, Virginia Property Taxes
Median Saltville, VA effective property tax rate: 0.74%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Saltville, VA home value: $47,500
Median annual Saltville, VA tax bill: $343, $2,057 lower than the national median property tax bill of $2,400.
How are property taxes in Smyth County calculated?
Property taxes in Saltville, 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 Saltville’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Saltville, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Saltville, Smyth County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.59%
Estimate Property Tax Bill
$438
$406
Property Tax Rates Across Saltville, Smyth County, Virginia
Local government entities determine tax rates, leading to significant variations within a state like Virginia. This process involves estimating the required budget for services, which is then divided by the total value of all taxable property in the area. This calculation establishes the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is essentially the process followed annually.
In Saltville, located in Smyth County, the effective property tax rate stands at 0.74%, which is below the national median rate of 1.02%. This makes Saltville an attractive option for property owners seeking lower tax liabilities compared to other regions. With the national median property tax bill at $2,400, the lower rate in Saltville can result in significant savings for homeowners.
Comparing Saltville’s effective property tax rate to other cities in Virginia and the broader U.S. landscape highlights its relative affordability. This can be a compelling factor for those considering property investments or relocations, as lower property taxes can enhance overall financial planning and investment returns.
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 Saltville 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
1.02%
Property Tax Rates Across Saltville, Smyth County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24370 | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Saltville, Smyth County, Virginia
When examining property taxes in Saltville, 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 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 the season. 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 Saltville. For example, the median home price in Saltville is $47,500, with tax bills ranging significantly across the county. Zip code 24370 has the highest median home price at $47,500.
Property Tax Assessment Values Across Saltville, Smyth County, Virginia
Source: Ownwell
$74,200
$103,300
$132,400
Median Saltville Market Value
$74,200
Median Smyth County Market Value
$109,200
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Saltville, Smyth County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24370 | $14,500 | $40,050 | $74,200 | $126,650 | $185,780 |
Source: Ownwell
Property Tax Bills Across Saltville, Smyth County, Virginia
In Saltville, Virginia, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. With a median home price of $47,500, homeowners in Saltville face a median property tax bill of $343. This is significantly lower than the national median property tax bill of $2,400. The property tax rate in Saltville is influenced by several factors, including local government budgets and the needs of the community. Homeowners in Saltville can see tax bills ranging from $186 at the 25th percentile to $914 at the 90th percentile, depending on their property's assessed value and any applicable exemptions.
Ownwell can assist Saltville homeowners by identifying potential savings through property tax appeals and exemptions. By analyzing the assessed value of a home and comparing it to similar properties, Ownwell can help determine if an appeal is warranted. This service can lead to substantial savings, ensuring homeowners only pay their fair share of property taxes.
Median Saltville Tax Bill
$418
Median Smyth County Tax Bill
$634
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Saltville, Smyth County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24370 | $80 | $223 | $418 | $739 | $1,081 |
Source: Ownwell