Draper, Wythe County, Virginia Property Taxes
Median Draper, VA effective property tax rate: 0.51%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Draper, VA home value: $172,050
Median annual Draper, VA tax bill: $869, $1,531 lower than the national median property tax bill of $2,400.
How are property taxes in Wythe calculated?
Property taxes in Draper, 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 Draper’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Draper, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Draper, Wythe County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.52%
Estimate Property Tax Bill
$926
$860
Property Tax Rates Across Draper, Wythe County, Virginia
Local government entities are responsible for setting tax rates, and these can differ significantly within a state. This variation is primarily due to each county's annual budgetary needs. Each year, counties estimate the budget required to maintain and enhance local services. They then divide this budget by the total assessed value of all taxable properties within their jurisdiction, resulting in the property tax rate.
In Draper, located in Wythe County, Virginia, the effective property tax rate stands at 0.51%. This rate is significantly lower than the national median property tax rate of 1.02%. This means that property owners in Draper enjoy a more favorable tax environment compared to the national average.
While state laws and local votes play a role in setting these rates, the fundamental process remains consistent: balancing the budgetary needs with the total property value. Comparing Draper's tax rate to other cities in Virginia, it's evident that residents benefit from a lower tax burden. This can make Draper an attractive location for property investment, offering both cost savings and the potential for future value growth.
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 Draper Tax Rate
0.52%
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 Wythe County Tax Rate
0.52%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Draper, Wythe County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24324 | 0.51% | 0.51% | 0.52% | 0.53% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Draper, Wythe County, Virginia
When examining property taxes in Draper, 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 Wythe 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 Wythe 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 Draper. For example, the median home price in Draper is $172,050, with tax bills ranging significantly across the county. Zip code 24324 has the highest median home price at $172,050.
Property Tax Assessment Values Across Draper, Wythe County, Virginia
Source: Ownwell
$95,900
$137,025
$178,150
Median Draper Market Value
$178,150
Median Wythe County Market Value
$143,400
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Draper, Wythe County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24324 | $76,210 | $125,650 | $178,150 | $247,100 | $352,530 |
Source: Ownwell
Property Tax Bills Across Draper, Wythe County, Virginia
Median Draper Tax Bill
$952
Median Wythe County Tax Bill
$757
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Draper, Wythe County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24324 | $433 | $644 | $952 | $1,293 | $1,885 |
Source: Ownwell