Rate Breakdown

Property taxes in Floyd County are calculated by multiplying the assessed value (minus exemptions) by the total local millage rate.

How Property Tax Works in Floyd County

Property taxes in Floyd County, Virginia, are based on the assessed value of your property and the current tax rate (millage rate). The county assesses real estate every four years, though values may be adjusted annually to reflect market changes. The assessment is conducted by the Floyd County Commissioner of the Revenue's office, which determines the fair market value of your property.

• Millage Rate: The tax rate is set annually by the Board of Supervisors. For example, if the rate is $0.75 per $100 of assessed value, a home valued at $200,000 would owe $1,500 annually.
• Assessment Ratio: Virginia law requires localities to assess properties at 100% of fair market value.
• Billing: Taxes are billed annually, with payments typically due in two installments.

Available Exemptions

Floyd County offers several exemptions that may reduce your property tax burden. Eligibility requirements vary, so contact the Commissioner of the Revenue for details.

• Homestead Exemption: While Virginia does not have a statewide homestead exemption, some localities offer relief for primary residences. Check with Floyd County for availability.
• Senior Citizen & Disability Exemptions: Residents aged 65+ or permanently disabled may qualify for tax relief based on income and asset limits.
• Veteran Exemptions: Disabled veterans or their surviving spouses may be eligible for partial or full exemptions, depending on the disability rating.

Payment Schedule & Deadlines

Floyd County property taxes are typically due in two installments:

• First Half: Due by June 5.
• Second Half: Due by December 5.

Payments can be made online, by mail, or in person at the Treasurer's office. Late payments incur a penalty of 10% plus interest (currently 10% annually). If taxes remain unpaid, the county may place a lien on the property or initiate foreclosure proceedings.

Appealing Your Assessment

If you believe your property is overassessed, you can appeal the valuation. Follow these steps:

• Step 1: Contact the Commissioner of the Revenue's office to discuss your assessment informally.
• Step 2: File a formal appeal with the Floyd County Board of Equalization (BOE) within 30 days of the assessment notice.
• Step 3: Present evidence (e.g., recent comparable sales, appraisal reports) to support your claim during the BOE hearing.
• Step 4: If unsatisfied with the BOE's decision, you may appeal to the Virginia Circuit Court within one year.

Note: Appeals must be based on the property's market value, not the tax amount owed.