Rural Retreat, Smyth County, Virginia Property Taxes
Property Taxes in Rural Retreat, Virginia
Median Rural Retreat, Virginia effective property tax rate: 0.59%, significantly lower than the national median of 1.02%, and lower than the Virginia state median of 0.90%.
Median Rural Retreat, Virginia home value: $107,300
Median annual Rural Retreat, Virginia tax bill: $631, $1,769 lower than the national median property tax bill of $2,400.
How are property taxes in Smyth calculated?
Property taxes in Rural Retreat, Virginia 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 Rural Retreat's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Rural Retreat, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Rural Retreat, Smyth County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.59%
Estimate Property Tax Bill
$633
$587
How Does the Rural Retreat Property Tax Calculator Work?
Use this Rural Retreat property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Rural Retreat's median effective tax rate of 0.59% — based on actual property records in Smyth County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessment office uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Rural Retreat's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Rural Retreat: rates range from 0.59% in 24368 to 0.59% in 24368, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Rural Retreat.
About Rural Retreat Property Taxes
About Property Taxes in Rural Retreat, Smyth, Virginia
Rural Retreat’s median effective property tax rate of 0.59% is lower than the Virginia state median of 0.90% and lower than the national median of 1.02%. This rate reflects the Smyth County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Rural Retreat. Homeowners in ZIP code 24368 carry a median effective rate of 0.59%, while those in the lowest ZIP also pay 0.59%. This spread reflects how school district boundaries and local assessment districts are drawn across Smyth County. Understanding which part of Rural Retreat you live in can make a meaningful difference to your annual tax bill.
Rural Retreat homeowners who believe their assessed value is too high can file a formal appeal with the Tax Assessor before the January 1, 2025 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Rural Retreat, Smyth County, Virginia
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because 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 Rural Retreat's effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S.
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 Rural Retreat 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 Smyth County Tax Rate
0.59%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Rural Retreat, Smyth County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24368 | 0.56% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Rural Retreat, Smyth County, Virginia
When examining property taxes in Rural Retreat, 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 Smyth 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.
Assessment notices:
In Smyth County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of the month when notices are sent.
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. For Rural Retreat, the median home price is $107,300, with a median tax bill of $631, far below the national median property tax bill of $2,400 and the national median property tax rate of 1.02%.
Property Tax Assessment Values Across Rural Retreat, Smyth County, Virginia
Source: Ownwell
$74,200
$103,300
$132,400
Median Rural Retreat Market Value
$107,300
Median Smyth County Market Value
$109,200
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Rural Retreat, Smyth County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24368 | $15,860 | $42,950 | $107,300 | $163,025 | $225,610 |
Source: Ownwell
Property Tax Bills Across Rural Retreat, Smyth County, Virginia
Property tax bills in Rural Retreat are based on the assessed value of a home and the local tax rate set by Smyth County and other taxing authorities. When a property’s market value rises, the assessed value can increase, which may lead to a higher tax bill. Homeowners with a median home price of $107,300 in Rural Retreat should expect property taxes to reflect how local officials value the property and apply the tax rate.
The typical tax bill in the area is $631.00, and that amount can vary depending on the home’s assessed value and any local levies. Bills at the 25th percentile are $220, while the 75th percentile is $946 and the 90th percentile is $1,345. Compared with the national median property tax bill of $2,400 and the national median property tax rate of 1.02%, Rural Retreat homeowners generally face lower property tax costs. Still, even a modest increase in assessed value can affect monthly housing expenses and long-term affordability.
Median Rural Retreat Tax Bill
$631
Median Smyth County Tax Bill
$634
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Rural Retreat, Smyth County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24368 | $84 | $220 | $631 | $946 | $1,345 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | January 1 |
Links | |
|---|---|
| Smyth Tax Assessor | |
| Website | gis.vgsi.com |