Newport, Giles County, Virginia Property Taxes
Median Newport, VA effective property tax rate: 0.68%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Newport, VA home value: $165,800
Median annual Newport, VA tax bill: $1,027, $1,373 lower than the national median property tax bill of $2,400.
How are property taxes in Giles County calculated?
Property taxes in Newport, 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 Newport’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Newport, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Newport, Giles County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.34%
Estimate Property Tax Bill
$570
$529
Property Tax Rates Across Newport, Giles County, Virginia
Local government entities in Virginia set property tax rates, which can differ significantly across the state. This variation arises because each county annually calculates its budgetary needs to fund essential services, dividing this by the total value of all taxable property within its boundaries. The result is the property tax rate for that county. Although the process involves votes and legal regulations, this is the fundamental annual procedure.
In Newport, located in Giles County, the effective property tax rate is 0.68%, which is noticeably lower than the national median property tax rate of 1.02%. This makes Newport an attractive location for property owners seeking lower tax burdens. Comparatively, the median property tax rate in Virginia aligns with Newport’s rate, offering residents a consistent tax environment statewide. However, Newport's rate stands out when compared to other cities in Virginia, where rates can vary. For property owners, understanding these differences is crucial in making informed decisions regarding real estate investments. By choosing Newport, residents benefit from a lower tax rate, contributing to an overall reduction in annual property expenses.
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 Newport Tax Rate
0.34%
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 Giles County Tax Rate
0.34%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Newport, Giles County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24128 | 0.23% | 0.34% | 0.34% | 0.34% | 0.34% |
Source: Ownwell
Property Tax Assessment Values Across Newport, Giles County, Virginia
When examining property taxes in Newport, 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 Giles 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 Giles 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 Newport. For example, the median home price in Newport is $165,800, with tax bills ranging significantly across the county. Zip code 24128 has the highest median home price at $165,800.
Property Tax Assessment Values Across Newport, Giles County, Virginia
Source: Ownwell
$61,700
$114,650
$167,600
Median Newport Market Value
$167,600
Median Giles County Market Value
$100,100
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Newport, Giles County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24128 | $65,980 | $109,700 | $167,600 | $260,700 | $400,660 |
Source: Ownwell
Property Tax Bills Across Newport, Giles County, Virginia
Median Newport Tax Bill
$522
Median Giles County Tax Bill
$330
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Newport, Giles County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24128 | $200 | $345 | $522 | $787 | $1,213 |
Source: Ownwell