Property Taxes in Waverly, Virginia
Median Waverly, Virginia effective property tax rate: 0.71%, significantly lower than the national median of 1.02%, and lower than the Virginia state median of 0.90%.
Median Waverly, Virginia home value: $174,500
Median annual Waverly, Virginia tax bill: $1,239, lower than the national median property tax bill of $2,400.
How are property taxes in Surry calculated?
Property taxes in Waverly, 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 Waverly's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Waverly, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
How Does the Waverly Property Tax Calculator Work?
Use this Waverly property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Waverly's median effective tax rate of 0.71% — based on actual property records in Surry County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Waverly'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 Waverly: rates range from 0.71% in 23890 to 0.71% in 23890, 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 Waverly.
About Waverly Property Taxes
About Property Taxes in Waverly, Surry, Virginia
Waverly’s median effective property tax rate of 0.71% is lower than the Virginia state median of 0.90% and lower than the national median of 1.02%. This rate reflects the Surry 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 Waverly. Homeowners in the 23890 ZIP code carry a median effective rate of 0.71%, while those in the same ZIP also pay $1,239 in median property tax bills. Understanding how your assessed value is set can make a meaningful difference to your annual tax bill.
Waverly homeowners who believe their assessed value is too high can file a formal appeal with the Tax Assessor before February 2, 2026.
If your estimated bill 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 Waverly, Surry 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 Waverly'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 Waverly 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
1.27%
Property Tax Rates Across Waverly, Surry County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23890 | 0.71% | 0.71% | 0.71% | 0.71% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Waverly, Surry County, Virginia
When examining property taxes in Waverly, 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 Surry County 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 Surry 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 Waverly.
For example, the median home price in Waverly is $174,500, with tax bills ranging significantly across the county. 23890 has the highest median home price at $174,500.
Property Tax Assessment Values Across Waverly, Surry County, Virginia
Source: Ownwell
$141,250
$211,325
$281,400
Median Waverly Market Value
$174,500
Median Surry County Market Value
$195,100
Median Virginia Market Value
$323,500
Median United States Market Value
$274,101
Property Tax Assessment Values Across Waverly, Surry County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23890 | $52,740 | $105,800 | $174,500 | $292,600 | $384,200 |
Source: Ownwell
Property Tax Bills Across Waverly, Surry County, Virginia
Property tax bills in Waverly are calculated by applying the local tax rate to a home’s assessed market value. The assessed value is based on the property’s estimated market worth, which means the tax bill can change when home values rise or fall. For homeowners, this makes the assessment process a key factor in what they owe each year.
With a median home price of $174,500, the typical tax burden in the city reflects how local assessments are translated into annual bills. In Waverly, the median tax bill is $1,239, which is below the national median property tax bill of $2,400 and also below the national median property tax rate of 1.02%.
Tax bills can vary widely from one homeowner to another. In the city, the 25th percentile tax bill is $751, while the 75th percentile is $2,077 and the 90th percentile reaches $2,728. These differences show how property characteristics and assessed value can affect what homeowners ultimately pay.
Median Waverly Tax Bill
$1,239
Median Surry County Tax Bill
$1,385
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$3,209
Property Tax Bills Across Waverly, Surry County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23890 | $374 | $751 | $1,239 | $2,077 | $2,728 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | February 2 |
Links | |
|---|---|
| Surry Tax Assessor | |
| Website | surry.cama.concisesystems.com |