Whitewood, Buchanan County, Virginia Property Taxes

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

Median Whitewood, 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 Whitewood, VA home value: $35,050
Median annual Whitewood, VA tax bill: $137, $2,263 lower than the national median property tax bill of $2,400.

How are property taxes in Buchanan calculated?

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

Last Updated March 1, 2025

Whitewood, Buchanan County, Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.39%

Estimate Property Tax Bill

$130

$121

Ownwell’s Whitewood Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Whitewood with just two data points. By entering your property's estimated assessed value, our calculator applies Whitewood’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 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 Buchanan County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Whitewood, 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. Below, you can compare Whitewood’s effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S.

Whitewood, located in Buchanan County, Virginia, offers a notably low effective property tax rate compared to the national median. This can be an attractive feature for property owners, as lower taxes can lead to significant savings over time. The median property tax rate in Virginia is also below the national average, making it a favorable state for homeowners. Understanding these differences can help property owners make informed decisions about where to invest and the potential long-term financial implications. By comparing Whitewood's tax rate with those in other regions, prospective buyers and current homeowners can gain insight into the economic landscape of Virginia and the potential benefits of residing in this area.

Property Tax Rates Across Whitewood, Buchanan County, Virginia

Source: Ownwell

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 Whitewood Tax Rate

0.39%

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 Whitewood, Buchanan County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
24657	0.39%	0.39%	0.39%	0.39%	0.39%

Source: Ownwell

Property Tax Assessment Values Across Whitewood, Buchanan County, Virginia

When examining property taxes in Whitewood, 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, influenced by location, property condition, and economic 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. This assessed value is used to calculate your property taxes by multiplying it with your tax rate. In Buchanan County, assessment notices are sent in the spring each year, typically reaching your mailbox by mid-April. Each property owner receives a notice containing both market and assessed values, along with an estimate of the property tax bill. By providing insights into how these values are determined, this helps property owners navigate their tax responsibilities. For instance, the median home price in Whitewood is $35,050, with tax bills ranging significantly across the county. The zip code 24657 holds the highest median home price, also at $35,050, highlighting the uniformity in property values within this region.

Property Tax Assessment Values Across Whitewood, Buchanan County, Virginia

Source: Ownwell

$31,350

$42,075

$52,800

Median Whitewood Market Value

$33,400

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 Whitewood, Buchanan County, Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
24657	$7,330	$12,500	$33,400	$69,950	$112,620

Source: Ownwell

Property Tax Bills Across Whitewood, Buchanan County, Virginia

In Whitewood, Buchanan County, VA, property tax bills are calculated based on the assessed value of homes, which is a percentage of the market value determined by the local tax assessor. The median home price in Whitewood is $35,050, which is significantly lower than the national median home price. Homeowners in Whitewood experience a median tax bill of $137, which is considerably less than the national median property tax bill of $2,400. Factors such as property size, location, and improvements can influence the assessed value, thus affecting the tax bill. However, even at the 90th percentile, the tax bill only reaches $449, highlighting the relatively low property tax burden in this area. Ownwell assists homeowners by identifying potential savings through property tax appeals and exemption services. By analyzing property assessments and market conditions, Ownwell can help ensure that homeowners are not overpaying on their property taxes, ultimately reducing their financial burden and maximizing savings.

Property Tax Bills Across Whitewood, Buchanan County, Virginia

Source: Ownwell

$122

$164

$206

Median Whitewood Tax Bill

$130

Median Buchanan County Tax Bill

$186

Median Virginia Tax Bill

$2,852

Median United States Tax Bill

$2,400

Property Tax Bills Across Whitewood, Buchanan County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
24657	$29	$49	$130	$273	$439

Source: Ownwell