Smithfield, Surry County, Virginia Property Taxes
Median SMITHFIELD, VA effective property tax rate: 0.71%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median SMITHFIELD, VA home value: $281,400
Median annual SMITHFIELD, VA tax bill: $1,998, $402 lower than the national median property tax bill of $2,400.
How are property taxes in Surry calculated?
Property taxes in SMITHFIELD, 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 SMITHFIELD’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in SMITHFIELD, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Smithfield, Surry County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.71%
Estimate Property Tax Bill
$1,998
$1,854
Property Tax Rates Across Smithfield, Surry 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 Smithfield Tax Rate
0.71%
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 Surry County Tax Rate
0.71%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Smithfield, Surry County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23430 | 0.71% | 0.71% | 0.71% | 0.71% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Smithfield, Surry County, Virginia
When examining property taxes in Smithfield, 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 Surry 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 Surry 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 Smithfield. For example, the median home price in Smithfield is $281,400, with tax bills ranging significantly across the county. Zip code 23430 has the highest median home price at $281,400.
Property Tax Assessment Values Across Smithfield, Surry County, Virginia
Source: Ownwell
$141,250
$211,325
$281,400
Median Smithfield Market Value
$281,400
Median Surry County Market Value
$195,100
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Smithfield, Surry County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23430 | $122,100 | $177,775 | $281,400 | $384,750 | $462,300 |
Source: Ownwell
Property Tax Bills Across Smithfield, Surry County, Virginia
In Smithfield, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the property tax rate set by the county to determine the annual tax bill. In Smithfield, the median home price is $281,400, leading to varying tax bills across different percentiles. The 25th percentile tax bill is $1,261, while the 75th percentile reaches $2,732. For those in the 90th percentile, the tax bill can be as high as $3,282. These figures highlight the potential financial burden on homeowners, especially when compared to the national median property tax bill of $2,400.
Ownwell offers a solution by helping homeowners appeal their property tax assessments, potentially lowering their tax bills. By analyzing local market conditions and comparable property values, Ownwell can identify opportunities for savings. This service ensures that homeowners in Smithfield pay only their fair share, providing relief and financial flexibility. Through expert guidance, Ownwell empowers homeowners to navigate the complexities of property tax appeals effectively.
Median Smithfield Tax Bill
$1,998
Median Surry County Tax Bill
$1,385
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Smithfield, Surry County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23430 | $867 | $1,262 | $1,998 | $2,732 | $3,282 |
Source: Ownwell