Ivanhoe, Carroll County, Virginia Property Taxes
Median IVANHOE, VA effective property tax rate: 0.59%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median IVANHOE, VA home value: $51,750
Median annual IVANHOE, VA tax bill: $304, $2,096 lower than the national median property tax bill of $2,400.
How are property taxes in Carroll calculated?
Property taxes in IVANHOE, 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 IVANHOE’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in IVANHOE, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Ivanhoe, Carroll County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.59%
Estimate Property Tax Bill
$305
$283
Property Tax Rates Across Ivanhoe, Carroll County, Virginia
Local government entities set tax rates, which can vary widely within a state. 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 Ivanhoe’s effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S.
Ivanhoe, located in Carroll County, Virginia, has a median property tax rate of 0.59%, which aligns with the highest and lowest rates within its own zip code, 24350. This rate is significantly lower than the national median property tax rate of 1.02%. Homeowners in Ivanhoe benefit from a property tax rate that is considerably below the national average, which can lead to substantial savings over time. By understanding these rates and how they compare, property owners in Ivanhoe can make informed decisions about their investments and financial planning.
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 Ivanhoe Tax Rate
0.59%
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 Carroll County Tax Rate
0.59%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Ivanhoe, Carroll County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24350 | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Ivanhoe, Carroll County, Virginia
When examining property taxes in Ivanhoe, 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 Carroll 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 Carroll 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 Ivanhoe. For example, the median home price in Ivanhoe is $51,750, with tax bills ranging significantly across the county. Zip code 24350 has the highest median home price at $51,750.
Property Tax Assessment Values Across Ivanhoe, Carroll County, Virginia
Source: Ownwell
$51,750
$101,350
$150,950
Median Ivanhoe Market Value
$51,750
Median Carroll County Market Value
$89,000
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Ivanhoe, Carroll County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24350 | $15,400 | $28,050 | $51,750 | $75,600 | $131,160 |
Source: Ownwell
Property Tax Bills Across Ivanhoe, Carroll County, Virginia
Median Ivanhoe Tax Bill
$304
Median Carroll County Tax Bill
$529
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Ivanhoe, Carroll County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24350 | $91 | $165 | $304 | $446 | $774 |
Source: Ownwell