Covington, Alleghany County, Virginia Property Taxes

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Property Taxes in Covington, Virginia

Median Covington, Virginia effective property tax rate: 0.73%, significantly lower than the national median of 1.02%, and lower than the Virginia state median of 0.90%.
Median Covington, Virginia home value: $105,500
Median annual Covington, Virginia tax bill: $750, $1,650 lower than the national median property tax bill of $2,400.

How are property taxes in Alleghany calculated?

Property taxes in Covington, 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 Covington's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Covington, knowing local tax details benefits homeowners and investors.

Last Updated April 13, 2026

Covington, Alleghany County, Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.73%

Estimate Property Tax Bill

$770

$715

How Does the Covington Property Tax Calculator Work?

Use this Covington property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Covington's median effective tax rate of 0.73% — based on actual property records in Alleghany County — to generate your estimate.

Enter your property's estimated assessed value — the figure the local assessment authority uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Covington's 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 Covington: rates range from 0.73% in 24426 to 0.73% in 24426, primarily due to differences in school district levies and local assessment districts.

For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Covington.

About Covington Property Taxes

About Property Taxes in Covington, Alleghany, Virginia

Covington’s median effective property tax rate of 0.73% is lower than the Virginia state median of 0.90% and lower than the national median of 1.02%. This rate reflects the Alleghany 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 Covington. Homeowners in the 24426 ZIP code carry a median effective rate of 0.73%, while those in the lowest ZIP also pay 0.73%. This spread reflects how school district boundaries and local assessment districts are drawn across Alleghany County. Understanding which part of Covington you live in can make a meaningful difference to your annual tax bill.

Covington 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 Covington, Alleghany 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 Covington's effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S.

Property Tax Rates Across Covington, Alleghany County, Virginia

Source: Ownwell

0.73%

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 Covington Tax Rate

0.73%

Median Effective Alleghany County Tax Rate

0.73%

Median Effective Virginia Tax Rate

0.90%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Covington, Alleghany County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
24426	0.73%	0.73%	0.73%	0.73%	0.73%

Source: Ownwell

Property Tax Assessment Values Across Covington, Alleghany County, Virginia

When examining property taxes in Covington, 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 Alleghany County assessment office 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 Alleghany County, assessment notices are sent in January each year. They'll typically reach your mailbox by the middle of January.

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. For example, the median home price in Covington is $105,500, with tax bills ranging significantly across the county. The median tax bill is $750, compared with the national median property tax rate of 1.02% and the national median property tax bill of $2,400.

Property Tax Assessment Values Across Covington, Alleghany County, Virginia

Source: Ownwell

$48,300

$82,500

$116,700

Median Covington Market Value

$105,500

Median Alleghany County Market Value

$87,250

Median Virginia Market Value

$323,500

Median United States Market Value

$235,294

Property Tax Assessment Values Across Covington, Alleghany County, Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
24426	$45,530	$72,000	$105,500	$153,625	$217,280

Source: Ownwell

Property Tax Bills Across Covington, Alleghany County, Virginia

Covington Property Tax Bills

Property tax bills in Covington are calculated by applying the local tax rate to a home’s assessed market value. The assessed value is based on what the property is worth for tax purposes, and local governments use that figure to determine how much a homeowner owes each year. Factors such as the home’s location, size, condition, and any local tax rules can influence the final bill.

For homeowners in Covington, the median home price is $105,500, and the median property tax bill is $750.00. That amount is below the national median property tax bill of $2,400 and reflects how local assessments and tax rates shape annual costs.

Property taxes can have a meaningful effect on household budgets, especially when values rise or local rates change. In Covington, bills typically fall between $515 at the 25th percentile and $1,075 at the 75th percentile, with the 90th percentile reaching $1,468.

Property Tax Bills Across Covington, Alleghany County, Virginia

Source: Ownwell

$351

$592

$833

Median Covington Tax Bill

$750

Median Alleghany County Tax Bill

$623

Median Virginia Tax Bill

$2,852

Median United States Tax Bill

$2,400

Property Tax Bills Across Covington, Alleghany County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
24426	$322	$515	$750	$1,075	$1,468

Source: Ownwell

Don't miss the deadline to appeal!

Dates
Appeal Deadline	June 1

Links
Alleghany Tax Assessor
Website	www.bttaxpayerportal.com

Frequently Asked Property Tax Questions in Covington, Virginia

How are property taxes calculated in Covington, Virginia?

Property taxes in Covington, Virginia are calculated by multiplying your property's assessed value by the applicable tax rate set by local taxing authorities. The assessed value is determined by the county assessor and may differ from your property's market value depending on local assessment ratios and exemptions.

How do I appeal my property taxes in Covington, Virginia?

To appeal your property taxes in Covington, Virginia, you typically need to file a formal protest or appeal with your local appraisal district or assessor's office by the stated deadline. You'll need evidence such as comparable sales, a recent independent appraisal, or documentation of property condition issues. Ownwell can handle this entire process for you.

What property tax exemptions are available in Covington, Virginia?

Common property tax exemptions in Covington, Virginia include homestead exemptions for primary residences, senior citizen exemptions, veteran exemptions, and disability exemptions. Exemption amounts and eligibility requirements vary by county. Contact your local appraisal district or check Ownwell for details specific to your property.

When are property taxes due in Covington, Virginia?

Property tax deadlines in Covington, Virginia vary by county but typically include an assessment notice period in spring or early summer, followed by an appeal deadline, and a tax payment due date in the fall or winter. Check with your county assessor's office for specific dates in your area.

How can Ownwell help reduce my property taxes in Covington, Virginia?

Ownwell provides professional property tax appeal services in Covington, Virginia. Our team analyzes your assessment, gathers evidence, files all paperwork, and represents you at hearings — all with no upfront cost. You only pay a percentage of your savings if we successfully lower your tax bill.