24614 Property Tax Rate

Property owners in ZIP code 24614 (Grundy, Virginia) pay a median of $447/year in property taxes on homes valued at $117,700. This translates to an effective tax rate of 0.38%, which is 44% below the Virginia state average of 0.67%.

The monthly property tax burden for a median-valued home in 24614 is approximately $37, which factors into escrow payments on mortgages. This ZIP code is located within Buchanan County. This is $1,796 less than the Virginia average of $2,243/year.

Compared to similar ZIP codes in Virginia, 24614 has lower property taxes. ZIP codes with similar effective rates include 23915 (0.38%) and 23954 (0.38%).

In Grundy, property taxes represent approximately 1.1% of the median household income of $40,000, providing context for the relative tax burden on homeowners in this area.

Virginia has no state property tax — Buchanan County sets rates locally and reassesses on its own cycle, so purchase price does not automatically trigger a revaluation. The Circuit Breaker program offers relief for seniors, disabled persons, and low-income households (income thresholds set locally); apply with the Buchanan County Commissioner of the Revenue. Contact the Buchanan County Assessor after purchase to confirm your assessment and request a Circuit Breaker application if you are 65+, disabled, or earning below the county's income limit.