Pound, Wise County, Virginia Property Taxes
Median Pound, VA effective property tax rate: 0.69%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Pound, VA home value: $69,000
Median annual Pound, VA tax bill: $452, $1,948 lower than the national median property tax bill of $2,400.
How are property taxes in Wise County calculated?
Property taxes in Pound, 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 Pound’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Pound, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Pound, Wise County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.69%
Estimate Property Tax Bill
$476
$442
Property Tax Rates Across Pound, Wise County, Virginia
Local government entities set tax rates, which can vary widely within a state. This variation occurs because each county annually 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 votes and laws are involved in setting tax rates and budgets, this is the annual process in a nutshell.
In POUND, the effective property tax rate offers a unique perspective when compared to other cities in Virginia and across the United States. Virginia's median property tax rate stands at 0.69%, which is lower than the national median rate of 1.02%. This indicates that homeowners in Virginia, including those in Wise County, may enjoy relatively lower property tax bills compared to other parts of the country. Despite being lower than the national average, property taxes are a significant factor for homeowners to consider when budgeting for their expenses. Understanding how these rates are determined and how they compare to national and state averages can provide valuable insights for property owners in managing their financial commitments.
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 Pound Tax Rate
0.69%
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 Wise County Tax Rate
0.69%
Median Effective Virginia Tax Rate
0.89%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Pound, Wise County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24279 | 0.69% | 0.69% | 0.69% | 0.69% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Pound, Wise County, Virginia
When examining property taxes in Pound, 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 Wise 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 Wise 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 Pound.
For example, the median home price in Pound is $69,000, with tax bills ranging significantly across the county. Zip code 24279 has the highest median home price at $69,000.
Property Tax Assessment Values Across Pound, Wise County, Virginia
Source: Ownwell
$30,500
$63,000
$95,500
Median Pound Market Value
$69,000
Median Wise County Market Value
$75,300
Median Virginia Market Value
$298,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Pound, Wise County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24279 | $31,000 | $48,400 | $69,000 | $101,325 | $142,470 |
Source: Ownwell
Property Tax Bills Across Pound, Wise County, Virginia
Median Pound Tax Bill
$452
Median Wise County Tax Bill
$501
Median Virginia Tax Bill
$2,608
Median United States Tax Bill
$2,400
Property Tax Bills Across Pound, Wise County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24279 | $170 | $303 | $452 | $678 | $965 |
Source: Ownwell