Big Rock, Buchanan County, Virginia Property Taxes
Median BIG ROCK, VA effective property tax rate: 0.39%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median BIG ROCK, VA home value: $43,700
Median annual BIG ROCK, VA tax bill: $170, $2,230 lower than the national median property tax bill of $2,400.
How are property taxes in Buchanan calculated?
Property taxes in BIG ROCK, 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 BIG ROCK’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in BIG ROCK, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Big Rock, Buchanan County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.39%
Estimate Property Tax Bill
$170
$158
Property Tax Rates Across Big Rock, Buchanan County, Virginia
Local government entities are responsible for setting tax rates, which can vary significantly within a state. This variation occurs because each county annually estimates its necessary budget to provide public services, then divides that by the total value of all taxable property within its jurisdiction. This calculation determines the property tax rate. Although votes and laws play a role in setting these rates and budgets, this is essentially the annual process.
In BIG ROCK, located in Buchanan County, VA, the effective property tax rate is notably lower than the national median. This lower rate can provide substantial savings compared to other regions. Comparing BIG ROCK’s rate to other cities in Virginia, it becomes evident that property owners here enjoy a more favorable tax environment. The median property tax rate in Virginia is considerably lower than the national median, making it an attractive state for property owners seeking to minimize their tax burden. Understanding how these rates are set and how they compare can help property owners make informed decisions about their investments.
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 Big Rock Tax Rate
0.39%
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 Buchanan County Tax Rate
0.39%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Big Rock, Buchanan County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24603 | 0.39% | 0.39% | 0.39% | 0.39% | 0.39% |
Source: Ownwell
Property Tax Assessment Values Across Big Rock, Buchanan County, Virginia
When examining property taxes in Big Rock, 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 Buchanan 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 Buchanan 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 Big Rock. For example, the median home price in Big Rock is $43,700, with tax bills ranging significantly across the county. Zip code 24603 has the highest median home price at $43,700.
Property Tax Assessment Values Across Big Rock, Buchanan County, Virginia
Source: Ownwell
$31,350
$42,075
$52,800
Median Big Rock Market Value
$43,700
Median Buchanan County Market Value
$47,800
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Big Rock, Buchanan County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24603 | $4,500 | $13,850 | $43,700 | $77,100 | $115,100 |
Source: Ownwell
Property Tax Bills Across Big Rock, Buchanan County, Virginia
Median Big Rock Tax Bill
$170
Median Buchanan County Tax Bill
$186
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Big Rock, Buchanan County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24603 | $18 | $54 | $170 | $301 | $449 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates |
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Links | |
|---|---|
| Buchanan Tax Assessor | |
| Website | egov.buchanancounty-va.gov |