Pounding Mill, Tazewell County, Virginia Property Taxes

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

Median Pounding Mill, 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 Pounding Mill, VA home value: $116,300
Median annual Pounding Mill, VA tax bill: $675, $1,725 lower than the national median property tax bill of $2,400.

How are property taxes in Tazewell County calculated?

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

Last Updated March 1, 2025

Pounding Mill, 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

$675

$626

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

Local government entities set tax rates, which can vary widely within a state. This variation is due to each county estimating its required budget to provide services and dividing 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 Pounding Mill’s effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S. Pounding Mill, located in Tazewell County, reflects a property tax rate that aligns with the county's assessment practices. With a median tax rate of 0.58%, it stands significantly lower than the national median of 1.02%. This lower rate can be particularly appealing for property owners seeking relief from higher property tax bills. Compared to the national median property tax bill of $2,400, Pounding Mill offers a more affordable living option. Understanding these rates can empower residents and potential homeowners to make informed decisions about property investments in the area.

Property Tax Rates Across Pounding Mill, 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 Pounding Mill 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 Pounding Mill, Tazewell County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
24637	0.58%	0.58%	0.58%	0.58%	0.58%

Source: Ownwell

Property Tax Assessment Values Across Pounding Mill, Tazewell County, Virginia

When examining property taxes in Pounding Mill, 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 Pounding Mill. For example, the median home price in Pounding Mill is $116,300, with tax bills ranging significantly across the county. Zip code 24637 has the highest median home price at $116,300.

Property Tax Assessment Values Across Pounding Mill, Tazewell County, Virginia

Source: Ownwell

$24,150

$73,875

$123,600

Median Pounding Mill Market Value

$116,400

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 Pounding Mill, Tazewell County, Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
24637	$48,520	$83,700	$116,400	$150,950	$204,000

Source: Ownwell

Property Tax Bills Across Pounding Mill, Tazewell County, Virginia

In Pounding Mill, located in Tazewell County, VA, property tax bills are calculated based on the assessed value of a home. The local tax rate is applied to this assessed value to determine the annual tax bill. Factors influencing the assessed value include the property's market value, location, and any improvements made. Homeowners in Pounding Mill typically see a median property tax bill of $675, which is significantly below the national median of $2,400. However, for some, this can still be a burden, especially when the tax bill reaches the 90th percentile at $1,178.

Ownwell offers property tax appeal services to help homeowners potentially lower their tax bills. By analyzing property assessments and market conditions, Ownwell identifies discrepancies and assists in filing appeals. This service can result in substantial savings, ensuring homeowners pay only their fair share. With expert guidance, homeowners can navigate the complex property tax system more effectively, reducing their financial strain while maximizing their savings.

Property Tax Bills Across Pounding Mill, Tazewell County, Virginia

Source: Ownwell

$140

$429

$717

Median Pounding Mill Tax Bill

$675

Median Tazewell County Tax Bill

$464

Median Virginia Tax Bill

$2,852

Median United States Tax Bill

$2,400

Property Tax Bills Across Pounding Mill, Tazewell County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
24637	$281	$485	$675	$876	$1,183

Source: Ownwell