In the last several weeks, we’ve been doing a lot of candidate tours for various colleges at Virginia Tech looking to hire new folks. Invariably, as we’re showing these prospective hires all that the New River Valley, the question always comes up – “what are real estate taxes like?”
Ah, taxes. We all love them, right? Of course not, but we’re lucky to have relatively low taxes compared to other areas of the country. However, they’re a part of the equation when making your mortgage payment every month. These amounts will vary from locality to locality, and in some cases a municipality will have TWO rates – one rate will be for the City or Town, and the other rate will be for the appropriate County. Feel free to use the phone numbers below to contact the taxing authority if you have questions.*
Note – This is a post that’s been written on this site several times, and is still one of the most regular hits. This time around, I thought I’d update it with the date of the last assessment, as well as the date of the next assessment. Rates should not change during that period.
To calculate current yearly tax, take the current assessed value of the home, divide by 100 and multiply by the current tax rate.
The assessed value of the home is $250000 and the home is in Blacksburg:
$250000/100 = 2500 x 1.14 = 2850 Yearly tax $2850
|Locale||Tax Rate||Phone Number||Last Assessment||Next Assessment|
|Blacksburg||$.25 + $.89 = $1.14||540-961-1105||2015||2019|
|Christiansburg||$.16 + $.89 = $1.05||540-382-9519||2015||2019|
|Rich Creek||$.20 + $.61 = $.74||540-726-3260||2015||2020-2021|
|Town of Floyd||$.24 + $.55 = $.79||540-745-2565||As needed||As needed|
|Town of Pulaski||$.34 + $.64 = $.86||540-994-8640||2014||2020|
|Town of Narrows||$.47 + $.61 = $1.08||540-726-2423||2015||2020-2021|
|Town of Pearisburg||$.335 + $.61 = $.945||540-921-0340||2015||2020-2021|
|Town of Pembroke||$.326 + $.61 = $.936||540-626-7191||2016||2020|
* Tax information is assumed reliable – contact the local Commissioner of the Revenue for more information. Updated 04/28/17.