Bishop, Tazewell County, Virginia Property Taxes

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

Median Bishop, 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 Bishop, VA home value: $24,500
Median annual Bishop, VA tax bill: $142, $2,258 lower than the national median property tax bill of $2,400.

How are property taxes in Tazewell calculated?

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

Last Updated March 1, 2025

Bishop, Tazewell County, Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.58%

Estimate Property Tax Bill

$150

$139

Ownwell’s Bishop Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Bishop with just two data points. By entering your property's estimated assessed value, our calculator applies Bishop’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 Bishop, Tazewell County, Virginia

Local government entities in Virginia set tax rates, which can vary widely within the state. This variation occurs because each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. The result is the property tax rate. While votes and laws play a role in setting tax rates and budgets, this is essentially the annual process.

In Bishop, located in Tazewell County, the effective property tax rate is 0.58%, which aligns with the highest and lowest rates in the state, both found in the same zip code. This rate is notably lower than the national median property tax rate of 1.02%. The median property tax bill in Virginia is considerably lower than the national median of $2400, making it an appealing option for property owners seeking lower tax burdens. Comparing Bishop's rate to other cities in Virginia and the U.S. highlights the state's competitive property tax landscape, offering potential savings for residents.

Property Tax Rates Across Bishop, Tazewell County, Virginia

Source: Ownwell

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 Bishop Tax Rate

0.58%

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 Bishop, Tazewell County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
24604	0.58%	0.58%	0.58%	0.58%	0.58%

Source: Ownwell

Property Tax Assessment Values Across Bishop, Tazewell County, Virginia

When examining property taxes in Bishop, 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. Assessment notices: In Tazewell 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 Bishop. For example, the median home price in Bishop is $24,500, with tax bills ranging significantly across the county. 24604 has the highest median home price at $24,500.

Property Tax Assessment Values Across Bishop, Tazewell County, Virginia

Source: Ownwell

$24,150

$73,875

$123,600

Median Bishop Market Value

$25,800

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 Bishop, Tazewell County, Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
24604	$7,820	$16,375	$25,800	$36,625	$48,250

Source: Ownwell

Property Tax Bills Across Bishop, Tazewell County, Virginia

In Bishop, Virginia, property tax bills are determined by the assessed value of a property, which is set by the local tax assessor. This value is then multiplied by the local property tax rate to calculate the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition. In Bishop, the median home price is $24,500, which is significantly lower than the national median. Consequently, property tax bills in Bishop are generally lower, with the 25th percentile at $99 and the 75th percentile reaching $212. However, even with lower tax bills, homeowners may still feel the financial impact, especially if their property is over-assessed. This is where Ownwell can make a difference. By providing expert property tax appeal and exemption services, Ownwell helps homeowners ensure their property is fairly assessed, potentially reducing their tax burden. Our team of professionals navigates the complexities of property tax appeals, aiming to secure savings for homeowners in Bishop and beyond.

Property Tax Bills Across Bishop, Tazewell County, Virginia

Source: Ownwell

$140

$429

$717

Median Bishop Tax Bill

$150

Median Tazewell County Tax Bill

$464

Median Virginia Tax Bill

$2,852

Median United States Tax Bill

$2,400

Property Tax Bills Across Bishop, Tazewell County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
24604	$45	$95	$150	$212	$280

Source: Ownwell