24087 Property Tax Rate

Property owners in ZIP code 24087 (Elliston, Virginia) pay a median of $1,157/year in property taxes on homes valued at $140,500. This translates to an effective tax rate of 0.82%, which is 22% above the Virginia state average of 0.67%.

The monthly property tax burden for a median-valued home in 24087 is approximately $96, which factors into escrow payments on mortgages. This ZIP code is located within Montgomery County. This is $1,086 less than the Virginia average of $2,243/year.

Compared to similar ZIP codes in Virginia, 24087 has higher property taxes. ZIP codes with similar effective rates include 22712 (0.82%) and 23320 (0.82%).

In Elliston, property taxes represent approximately 2.7% of the median household income of $42,631, providing context for the relative tax burden on homeowners in this area.

Montgomery County's 0.76% local rate is Virginia's only property tax, with no state tax or reassessment restrictions at sale. Agricultural landowners should apply for Land Use Taxation through the Montgomery County Assessor to have your property taxed on agricultural use value rather than market value. Seniors 65+ and permanently disabled residents should reach out to the Montgomery County Assessor immediately to explore circuit breaker relief eligibility, which can reduce your annual tax based on income thresholds.