Haysi, Buchanan County, Virginia Property Taxes
Median Haysi, 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 Haysi, VA home value: $42,900
Median annual Haysi, VA tax bill: $167, $2,233 lower than the national median property tax bill of $2,400.
How are property taxes in Buchanan calculated?
Property taxes in Haysi, 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 Haysi’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Haysi, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Haysi, 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
$169
$157
Property Tax Rates Across Haysi, Buchanan County, Virginia
Local government entities set tax rates, which can vary widely within a state. 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.
In Haysi, Buchanan County, Virginia, the effective property tax rate is significantly lower than both the state and national medians. With Virginia's median property tax rate being 0.82%, Haysi stands out for its affordability in property taxes. This is particularly appealing for property owners looking to reduce their annual expenses. Compared to the national median property tax rate of 1.02%, Haysi offers a more budget-friendly option for homeowners.
This lower tax rate can be a crucial factor for potential homebuyers and investors considering properties in the area. It not only reduces the immediate financial burden but also enhances long-term savings. For those seeking a financially viable location with lower property tax obligations, Haysi presents a compelling opportunity.
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 Haysi 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 Haysi, Buchanan County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24256 | 0.39% | 0.39% | 0.39% | 0.39% | 0.39% |
Source: Ownwell
Property Tax Assessment Values Across Haysi, Buchanan County, Virginia
When examining property taxes in Haysi, 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 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 Haysi.
For example, the median home price in Haysi is $42,900, with tax bills ranging significantly across the county. The zip code 24256 has the highest median home price at $42,900.
Property Tax Assessment Values Across Haysi, Buchanan County, Virginia
Source: Ownwell
$31,350
$42,075
$52,800
Median Haysi Market Value
$43,250
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 Haysi, Buchanan County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24256 | $7,000 | $12,725 | $43,250 | $74,450 | $100,580 |
Source: Ownwell
Property Tax Bills Across Haysi, Buchanan County, Virginia
In Haysi, located in Buchanan County, VA, property tax bills are calculated based on the assessed value of a home. The tax rate in this area is applied to the assessed value, which is determined by the local assessor's office. With a median home price of $42,900, homeowners can expect their tax bills to vary significantly. For instance, the 25th percentile tax bill is $50, while the 75th percentile reaches $290, and the 90th percentile goes up to $389. This variation impacts homeowners differently, depending on their home's assessed value and the specific tax rate applied. Compared to the national median property tax bill of $2,400, Haysi's figures are relatively low, offering potential savings opportunities.
Ownwell can assist homeowners in Haysi by identifying potential discrepancies in assessments and filing appeals to ensure fair taxation. By leveraging expertise and local knowledge, Ownwell helps homeowners reduce their property tax burdens, potentially saving them hundreds of dollars annually. This service is particularly beneficial in areas with fluctuating property tax rates and assessments.
Median Haysi Tax Bill
$169
Median Buchanan County Tax Bill
$186
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Haysi, Buchanan County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24256 | $27 | $50 | $169 | $290 | $392 |
Source: Ownwell