Bandy, Tazewell County, Virginia Property Taxes
Median Bandy, VA effective property tax rate: 0.58%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Bandy, VA home value: $33,950
Median annual Bandy, VA tax bill: $197, $2,203 lower than the national median property tax bill of $2,400.
How are property taxes in Tazewell calculated?
Property taxes in Bandy, 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 Bandy’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Bandy, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Bandy, Tazewell County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.58%
Estimate Property Tax Bill
$197
$182
Ownwell’s Bandy Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Bandy with just two data points.
By entering your property's estimated assessed value, our calculator applies Bandy’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 Tazewell County.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Bandy, Tazewell County, Virginia
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 Bandy Tax Rate
0.58%
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 Tazewell County Tax Rate
0.58%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Bandy, Tazewell County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24602 | 0.58% | 0.58% | 0.58% | 0.58% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Bandy, Tazewell County, Virginia
When examining property taxes in Bandy, 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 Tazewell 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 Tazewell County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of the season. 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 Bandy. For example, the median home price in Bandy is $33,950, with tax bills ranging significantly across the county. Zip code 24602 has the highest median home price at $33,950.
Property Tax Assessment Values Across Bandy, Tazewell County, Virginia
Source: Ownwell
$24,150
$73,875
$123,600
Median Bandy Market Value
$33,900
Median Tazewell County Market Value
$80,000
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Bandy, Tazewell County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24602 | $8,000 | $18,000 | $33,900 | $62,100 | $90,600 |
Source: Ownwell
Property Tax Bills Across Bandy, Tazewell County, Virginia
In Bandy, VA, property tax bills are calculated based on the assessed value of a home. The local government determines this value, which may differ from the market value. Homeowners in Bandy pay a median property tax bill of $197, significantly lower than the national median of $2,400. Factors influencing the tax bill include the home’s assessed value and the local tax rate. For instance, in Tazewell County, the tax bill ranges from $105 at the 25th percentile to $527 at the 90th percentile. This variation highlights how different assessments and tax rates can affect homeowners' financial obligations.
Homeowners often find these tax bills burdensome, especially when the assessed value does not reflect their property’s true market value. This is where Ownwell steps in to assist. By providing property tax appeal and exemption services, Ownwell helps homeowners potentially reduce their tax burden. With expert guidance, homeowners can challenge inaccurate assessments, ensuring fair tax bills and potential savings. Through Ownwell’s services, property owners in Bandy can navigate the complexities of property tax appeals with confidence.
Median Bandy Tax Bill
$197
Median Tazewell County Tax Bill
$464
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Bandy, Tazewell County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24602 | $46 | $104 | $197 | $360 | $525 |
Source: Ownwell