24445 Property Tax Rate

Property owners in ZIP code 24445 (Hot Springs, Virginia) pay a median of $925/year in property taxes on homes valued at $163,800. This translates to an effective tax rate of 0.56%, which is 16% below the Virginia state average of 0.67%.

The monthly property tax burden for a median-valued home in 24445 is approximately $77, which factors into escrow payments on mortgages. This ZIP code is located within Bath County. This is $1,318 less than the Virginia average of $2,243/year.

Compared to similar ZIP codes in Virginia, 24445 has lower property taxes. ZIP codes with similar effective rates include 23301 (0.56%) and 24555 (0.57%).

In Hot Springs, property taxes represent approximately 1.5% of the median household income of $61,953, providing context for the relative tax burden on homeowners in this area.

Virginia has no state property tax — Bath County conducts local assessments with no reassessment requirement at property transfer. Bath County offers circuit breaker tax credits for seniors 65+ and permanently disabled residents with qualifying income, and Land Use Taxation for farm and forest parcels. File for relief programs with the Bath County Assessor immediately after purchase to determine your eligibility for tax reductions.