Wythe County Property Taxes
The median property tax rate in Wythe County is 0.51%, which is significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Wythe County at $139,300, the typical annual property tax bill is $699, far below the national median of $2,690. Property taxes in Wythe County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions such as primary residence and agricultural exemptions. Understanding Wythe County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Wytheville or another part of Wythe County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wythe County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.51%
Estimate Property Tax Bill
$710
$659
Ownwell’s Wythe Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wythe with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Wythe to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Wythe County, Virginia
Property taxes in Wythe County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Wythe County is 0.51%, which is lower than the U.S. national median of 0.99%. Local government entities within Wythe County set these rates annually, and they can vary significantly between different areas within the county. Each year, Wythe County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Wythe County's effective property tax rate with other counties in Virginia and the national median. For comparison, the city of Austinville has a property tax rate of 0.51%, which is the same as Wythe County. Analyzing how Wythe County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Wythe County Tax Rate
0.51%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wythe County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Austinville | 0.51% | 0.51% | 0.51% | 0.51% | 0.51% |
| Barren Springs | 0.51% | 0.51% | 0.51% | 0.51% | 0.51% |
| Cripple Creek | 0.47% | 0.51% | 0.51% | 0.51% | 0.51% |
| Crockett | 0.29% | 0.51% | 0.51% | 0.51% | 0.51% |
| Draper | 0.50% | 0.51% | 0.51% | 0.51% | 0.51% |
| Hillsville | 0.51% | 0.51% | 0.51% | 0.51% | 0.51% |
| Ivanhoe | 0.51% | 0.51% | 0.51% | 0.51% | 0.51% |
| Max Meadows | 0.51% | 0.51% | 0.51% | 0.51% | 0.51% |
| Rural Retreat | 0.51% | 0.51% | 0.51% | 0.51% | 0.51% |
| Speedwell | 0.51% | 0.51% | 0.51% | 0.51% | 0.51% |
| Wytheville | 0.51% | 0.51% | 0.51% | 0.51% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Wythe County, Virginia
In Wythe County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Wythe County Appraisal District. The assessed value, however, is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices in Wythe County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. In Wythe County, Draper has the highest median tax bill at $869, while Cripple Creek has the lowest at $461. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Average Wythe County Assessed Value
$139,300
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wythe County, Virginia
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Austinville | $37,450 | $56,300 | $93,150 | $144,875 | $198,200 |
| Barren Springs | $23,460 | $58,250 | $111,500 | $146,750 | $208,220 |
| Cripple Creek | $23,660 | $52,200 | $90,450 | $183,700 | $298,790 |
| Crockett | $47,880 | $82,100 | $142,000 | $227,850 | $359,080 |
| Draper | $48,060 | $99,750 | $172,050 | $258,100 | $401,070 |
| Hillsville | $29,160 | $90,600 | $122,200 | $196,500 | $255,980 |
| Ivanhoe | $23,790 | $59,125 | $97,450 | $153,025 | $260,400 |
| Max Meadows | $35,260 | $88,950 | $139,000 | $208,150 | $288,200 |
| Rural Retreat | $34,940 | $93,700 | $141,000 | $210,200 | $314,420 |
| Speedwell | $25,300 | $58,000 | $106,500 | $170,900 | $253,900 |
| Wytheville | $52,900 | $95,800 | $151,250 | $225,200 | $329,760 |
Source: Ownwell
Property Tax Bills Across Wythe County, Virginia
In Wythe County, VA, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the property's market value, which is determined by the county assessor. Factors such as property size, location, and improvements can influence this assessed value. The local tax rate is applied to this value to calculate the annual tax bill. For homeowners in Wythe County, the median home price is $139,300. Tax bills vary significantly, with the 25th percentile at $434 and the 75th percentile at $1046. At the 90th percentile, the tax bill can reach up to $1496. Comparatively, the highest median tax bill in the region is $869 in Draper, while the lowest is $461 in Cripple Creek. These tax bills can significantly impact homeowners' finances, making it essential to understand how property taxes are calculated and budget accordingly.
Average Wythe County Tax Bill
$699
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Wythe County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Austinville | $191 | $287 | $475 | $724 | $996 |
| Barren Springs | $120 | $294 | $568 | $748 | $1,058 |
| Cripple Creek | $121 | $266 | $461 | $848 | $1,166 |
| Crockett | $233 | $379 | $677 | $1,025 | $1,371 |
| Draper | $245 | $509 | $869 | $1,278 | $1,813 |
| Hillsville | $149 | $459 | $623 | $990 | $1,305 |
| Ivanhoe | $119 | $297 | $497 | $767 | $1,202 |
| Max Meadows | $165 | $447 | $699 | $1,027 | $1,392 |
| Rural Retreat | $160 | $468 | $706 | $1,031 | $1,423 |
| Speedwell | $116 | $289 | $532 | $831 | $1,263 |
| Wytheville | $262 | $482 | $761 | $1,120 | $1,616 |
Source: Ownwell