24012 Property Tax Rate

Property owners in ZIP code 24012 (Roanoke, Virginia) pay a median of $1,785/year in property taxes on homes valued at $177,000. This translates to an effective tax rate of 1.01%, which is 50% above the Virginia state average of 0.67%.

The monthly property tax burden for a median-valued home in 24012 is approximately $149, which factors into escrow payments on mortgages. This ZIP code is located within Roanoke city. This is $458 less than the Virginia average of $2,243/year.

Compared to similar ZIP codes in Virginia, 24012 has higher property taxes. ZIP codes with similar effective rates include 20171 (1.01%) and 23221 (1.01%).

In Roanoke, property taxes represent approximately 3.5% of the median household income of $51,002, providing context for the relative tax burden on homeowners in this area.

Virginia imposes no state property tax — Roanoke city's 0.71% rate is the only tax due, with no reassessment restrictions at sale. If you own agricultural property within city limits, apply for Land Use Taxation with the Roanoke city Assessor to reduce your assessment to use value. Elderly (65+) and disabled homeowners should contact the Roanoke city Assessor to apply for circuit breaker relief, which may significantly reduce your property tax bill if your income qualifies.