Property Taxes in Falls Mills, Virginia
Median Falls Mills, Virginia effective property tax rate: 0.58%, significantly lower than the national median of 1.02%, and lower than the Virginia state median of 0.90%.
Median Falls Mills, Virginia home value: $60,900
Median annual Falls Mills, Virginia tax bill: $353, $2,047 lower than the national median property tax bill of $2,400.
How are property taxes in Tazewell calculated?
Property taxes in Falls Mills, 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 Falls Mills's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Falls Mills, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
How Does the Falls Mills Property Tax Calculator Work?
Use this Falls Mills property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Falls Mills' median effective tax rate of 0.58% — based on actual property records in Tazewell County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessment process uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Falls Mills' 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 Falls Mills: rates range from $353 in 24613 to $353 in 24613, primarily due to differences in school district levies and local assessment districts.
Falls Mills' median tax rate is lower than Virginia's 0.90% and the median tax bill is lower than the state median by $2,047. For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Falls Mills.
About Falls Mills Property Taxes
About Property Taxes in Falls Mills, Tazewell, Virginia
Falls Mills’s median effective property tax rate of 0.58% is lower than the Virginia state median of 0.90% and lower than the national median of 1.02%. This rate reflects the Tazewell 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 Falls Mills. Homeowners in the 24613 ZIP code carry a median effective rate of 0.58%, while those in 24613 pay 0.58%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Tazewell County. Understanding which part of Falls Mills you live in can make a meaningful difference to your annual tax bill.
Falls Mills homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the June 1, 2026 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 Falls Mills, Tazewell 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 Falls Mills'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 Falls Mills Tax Rate
0.58%
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 Tazewell County Tax Rate
0.58%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.27%
Property Tax Rates Across Falls Mills, Tazewell County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24613 | 0.58% | 0.58% | 0.58% | 0.58% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Falls Mills, Tazewell County, Virginia
When examining property taxes in Falls Mills, 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 Tazewell 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.
Assessment notices:
In Tazewell 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 Falls Mills.
For example, the median home price in Falls Mills is $60,900, with tax bills ranging significantly across the county. 24613 has the highest median home price at $60,900.
Property Tax Assessment Values Across Falls Mills, Tazewell County, Virginia
Source: Ownwell
$24,150
$73,875
$123,600
Median Falls Mills Market Value
$60,900
Median Tazewell County Market Value
$80,000
Median Virginia Market Value
$323,500
Median United States Market Value
$274,101
Property Tax Assessment Values Across Falls Mills, Tazewell County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24613 | $10,200 | $34,450 | $60,900 | $93,250 | $139,900 |
Source: Ownwell
Property Tax Bills Across Falls Mills, Tazewell County, Virginia
Property tax bills in Falls Mills are calculated by applying the local tax rate to a home’s assessed market value. The assessed value is the starting point, and local taxing authorities use it to determine how much a homeowner owes each year. For a home with a median value of $60,900, the bill can vary based on the assessment and the tax rate set for the area.
What a homeowner pays also depends on exemptions, local levies, and whether the property has been assessed accurately. In Tazewell County, the median property tax bill is $353, which is well below the national median property tax bill of $2,400. That means many homeowners in Falls Mills face a smaller annual tax burden than the typical U.S. homeowner.
Because property taxes are tied to assessed value, any change in a home’s market value or assessment can affect the bill. Higher assessments usually lead to higher taxes, while a lower assessment can reduce what a homeowner pays.
Median Falls Mills Tax Bill
$353
Median Tazewell County Tax Bill
$464
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$3,209
Property Tax Bills Across Falls Mills, Tazewell County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24613 | $59 | $200 | $353 | $541 | $811 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | December 19 |
Links | |
|---|---|
| Tazewell Tax Assessor | |
| Website | tazewellcova.interactivegis.com |