24053 Property Tax Rate

Property owners in ZIP code 24053 (Ararat, Virginia) pay a median of $811/year in property taxes on homes valued at $159,200. This translates to an effective tax rate of 0.51%, which is 24% below the Virginia state average of 0.67%.

The monthly property tax burden for a median-valued home in 24053 is approximately $68, which factors into escrow payments on mortgages. This ZIP code is located within Patrick County. This is $1,432 less than the Virginia average of $2,243/year.

Compared to similar ZIP codes in Virginia, 24053 has lower property taxes. ZIP codes with similar effective rates include 24609 (0.51%) and 22514 (0.51%).

In Ararat, property taxes represent approximately 1.6% of the median household income of $52,173, providing context for the relative tax burden on homeowners in this area.

Patrick County's 0.51% local rate is Virginia's only property tax, with no state tax or reassessment requirements at sale. Landowners operating agricultural property should apply for Land Use Taxation with the Patrick County Assessor to reduce your assessment to use value instead of market value. Elderly (65+) and disabled homeowners should reach out to the Patrick County Assessor to apply for circuit breaker relief, which caps property taxes as a percentage of household income.