Troutdale, Smyth County, Virginia Property Taxes
Median Troutdale, 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 Troutdale, VA home value: $45,650
Median annual Troutdale, VA tax bill: $335, $2,065 lower than the national median property tax bill of $2,400.
How are property taxes in Smyth County calculated?
Property taxes in Troutdale, 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 Troutdale’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Troutdale, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Troutdale, 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
$464
$430
Property Tax Rates Across Troutdale, Smyth County, Virginia
Local government entities determine tax rates, which can vary significantly within a state. This variation occurs because each county annually estimates its budgetary needs to provide necessary services and then divides this by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is the essential annual process.
Comparing Troutdale's effective property tax rate to other cities in Virginia, it's evident that local rates can differ, yet Troutdale maintains a consistent rate. The median property tax rate in Troutdale aligns with the state’s median, both standing at 0.74%. This is below the national median property tax rate of 1.02%, offering residents a more favorable tax environment compared to many other regions in the country. For those considering property ownership in Troutdale, this lower tax rate can translate into significant savings over time, making it an appealing location for potential homeowners.
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 Troutdale 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 Troutdale, Smyth County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24378 | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Troutdale, Smyth County, Virginia
When examining property taxes in Troutdale, 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 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 Troutdale. For example, the median home price in Troutdale is $45,650, with tax bills ranging significantly across the county. Zip code 24378 has the highest median home price at $45,650.
Property Tax Assessment Values Across Troutdale, Smyth County, Virginia
Source: Ownwell
$74,200
$103,300
$132,400
Median Troutdale Market Value
$78,600
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 Troutdale, Smyth County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24378 | $17,380 | $50,425 | $78,600 | $127,300 | $177,050 |
Source: Ownwell
Property Tax Bills Across Troutdale, Smyth County, Virginia
In Troutdale, Virginia, property tax bills are determined by assessing the market value of a home and applying the local tax rate. The median home price in this area is $45,650, which is significantly lower than the national median. Homeowners in this region face a median tax bill of $335, which is considerably below the national median property tax bill of $2,400. Factors influencing the tax bill include the assessed value of the property and the local tax rate. The tax bill can vary widely, with the 25th percentile paying around $199 and the 90th percentile facing up to $882. These differences in tax bills can significantly impact homeowners, especially those on a fixed income.
Ownwell offers assistance to homeowners in reducing their property tax bills by identifying potential savings through exemptions and appealing inaccurate assessments. By leveraging expertise in property tax laws and local market conditions, Ownwell ensures that homeowners pay only their fair share, potentially saving hundreds of dollars annually.
Median Troutdale Tax Bill
$447
Median Smyth County Tax Bill
$634
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Troutdale, Smyth County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24378 | $98 | $264 | $447 | $717 | $1,027 |
Source: Ownwell