24435 Property Tax Rate

Property owners in ZIP code 24435 (Fairfield, Virginia) pay a median of $1,372/year in property taxes on homes valued at $192,900. This translates to an effective tax rate of 0.71%, which is 6% above the Virginia state average of 0.67%.

The monthly property tax burden for a median-valued home in 24435 is approximately $114, which factors into escrow payments on mortgages. This ZIP code is located within Rockbridge County. This is $871 less than the Virginia average of $2,243/year.

Compared to similar ZIP codes in Virginia, 24435 has lower property taxes. ZIP codes with similar effective rates include 22938 (0.71%) and 23222 (0.71%).

In Fairfield, property taxes represent approximately 2.1% of the median household income of $66,620, providing context for the relative tax burden on homeowners in this area.

Virginia has no state property tax — Rockbridge County sets assessments locally with no statewide reassessment rule at purchase. Rockbridge County offers circuit breaker credits for seniors 65+ and permanently disabled residents meeting income limits, and Land Use rates for farming and forestry. Apply for senior or disability relief with the Rockbridge County Assessor immediately after closing to reduce your taxable assessed value.