Floyd County, Virginia Property Taxes

Name: Property Tax Bills Across Floyd County, Virginia
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Floyd County effective property tax rate: 0.65%, significantly lower than the national median of 1.02%. Median Floyd County home value: $126,500. Median annual Floyd County tax bill: $805, $1,595 lower than the national median property tax bill of $2,400.

How are property taxes in Floyd County calculated?

Property taxes in Floyd County 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 your county's property tax system, exemptions, and reduction opportunities can lead to significant savings. Whether you live in Floyd or another part of Floyd County, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Floyd County, Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.65%

Estimate Property Tax Bill

$822

$763

Ownwell’s Floyd County Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Floyd County with just two data points. By entering your property's estimated assessed value, our calculator applies Floyd County’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a more precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Floyd County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Floyd County, Virginia

Local government entities set tax rates, which can vary significantly within a state. This variation occurs because each county, like Floyd County in Virginia, estimates its required budget annually to provide essential services. The budget is then divided by the total value of all taxable property within the county, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is the core process followed each year.

Comparatively, Floyd County's effective property tax rate is lower than the national median property tax rate of 1.02%. Additionally, the median property tax bill in Floyd County is below the national median of $2,400. This means property owners in Floyd County generally pay less in property taxes compared to many other regions in the United States. Understanding these local tax dynamics can be crucial for property owners looking to manage their expenses effectively.

Property Tax Rates Across Floyd County, Virginia

Source: Ownwell

0.65%

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 Floyd County Tax Rate

0.65%

Median Effective Virginia Tax Rate

0.89%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Floyd County, Virginia

City	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
Check	0.65%	0.65%	0.65%	0.65%	0.65%
Copper Hill	0.65%	0.65%	0.65%	0.65%	0.65%
Floyd	0.65%	0.65%	0.65%	0.65%	0.65%
Indian Valley	0.65%	0.65%	0.65%	0.65%	0.65%
Meadows Of Dan	0.65%	0.65%	0.65%	0.65%	0.65%
Pilot	0.65%	0.65%	0.65%	0.65%	0.65%
Radford	0.65%	0.65%	0.65%	0.65%	0.65%
Riner	0.65%	0.65%	0.65%	0.65%	0.65%
Willis	0.65%	0.65%	0.65%	0.65%	0.65%
Bent Mountain	N/A	N/A	N/A	N/A	N/A
Fairlawn	N/A	N/A	N/A	N/A	N/A
Laurel Fork	N/A	N/A	N/A	N/A	N/A
Shawsville	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Floyd County, Virginia

When examining property taxes in Floyd County, 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 Floyd County Department of Tax Administration 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 Floyd County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of March. 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 Floyd County.

For example, the median tax bill in Floyd County is $949, with tax bills ranging significantly across the county. Riner has the highest median home price at $148,400.

Property Tax Assessment Values Across Floyd County, Virginia

Source: Ownwell

$96,750

$122,575

$148,400

Median Floyd County Market Value

$126,500

Median Virginia Market Value

$298,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Floyd County, Virginia

City	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
Check	$37,340	$78,150	$128,100	$188,600	$262,300
Copper Hill	$30,470	$80,125	$126,800	$187,150	$259,510
Floyd	$39,840	$86,300	$139,100	$205,300	$277,640
Indian Valley	$63,480	$97,900	$123,500	$164,800	$242,000
Meadows Of Dan	$35,400	$73,700	$120,400	$171,100	$241,300
Pilot	$33,840	$90,000	$130,000	$196,200	$280,060
Radford	$27,280	$52,575	$96,750	$144,500	$216,700
Riner	$42,890	$99,250	$148,400	$220,600	$299,310
Willis	$27,980	$64,900	$113,100	$169,150	$232,880
Bent Mountain	N/A	N/A	N/A	N/A	N/A
Fairlawn	N/A	N/A	N/A	N/A	N/A
Laurel Fork	N/A	N/A	N/A	N/A	N/A
Shawsville	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Floyd County, Virginia

In Floyd County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in this county is $126,500. The property tax rate is applied to this assessed value to determine the tax bill. The median property tax bill in Floyd County is significantly lower than the national median of $2,400, with a range from $455 at the 25th percentile to $1,705 at the 90th percentile. Homeowners in Riner experience the highest median tax bill of $949, while those in Radford see the lowest at $629. Several factors influence the tax bill, including property improvements, market conditions, and local budgetary needs. These taxes are crucial for funding public services like schools, infrastructure, and emergency services. For homeowners, understanding their property tax bill is essential, as it impacts their annual expenses and is a critical component of homeownership costs.

Property Tax Bills Across Floyd County, Virginia

Source: Ownwell

$629

$789

$949

Median Floyd County Tax Bill

$805

Median Virginia Tax Bill

$2,608

Median United States Tax Bill

$2,400

Property Tax Bills Across Floyd County, Virginia

City	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
Check	$213	$478	$798	$1,215	$1,689
Copper Hill	$179	$484	$811	$1,209	$1,686
Floyd	$214	$523	$878	$1,325	$1,788
Indian Valley	$413	$636	$803	$1,034	$1,573
Meadows Of Dan	$192	$474	$775	$1,098	$1,493
Pilot	$213	$577	$841	$1,238	$1,817
Radford	$177	$342	$629	$935	$1,409
Riner	$231	$615	$949	$1,420	$1,944
Willis	$174	$408	$723	$1,089	$1,510
Bent Mountain	N/A	N/A	N/A	N/A	N/A
Fairlawn	N/A	N/A	N/A	N/A	N/A
Laurel Fork	N/A	N/A	N/A	N/A	N/A
Shawsville	N/A	N/A	N/A	N/A	N/A

Source: Ownwell