24380 Property Tax Rate

Property owners in ZIP code 24380 (Willis, Virginia) pay a median of $1,019/year in property taxes on homes valued at $214,200. This translates to an effective tax rate of 0.48%, which is 29% below the Virginia state average of 0.67%.

The monthly property tax burden for a median-valued home in 24380 is approximately $85, which factors into escrow payments on mortgages. This ZIP code is located within Floyd County. This is $1,224 less than the Virginia average of $2,243/year.

Compared to similar ZIP codes in Virginia, 24380 has higher property taxes. ZIP codes with similar effective rates include 23410 (0.48%) and 23153 (0.47%).

In Willis, property taxes represent approximately 2.0% of the median household income of $50,246, providing context for the relative tax burden on homeowners in this area.

Floyd County's 0.46% local rate is your only property tax in Virginia, which has no state tax or sale-triggered reassessment. Agricultural landowners should apply for Land Use Taxation through the Floyd County Assessor to be taxed on farming use value rather than market value. Disabled and elderly (65+) homeowners should contact the Floyd County Assessor to apply for circuit breaker relief, which can significantly reduce your annual property tax if your income meets program thresholds.