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County tax profile · 2026 · Census ACS + IRS data

Property Tax & Income in Floyd County, Virginia

Floyd County has an effective property tax rate of 0.55%. On the median home value of $225,400, that's roughly $1,245 per year. Median household income is $62,191.

Effective Property Tax Rate1
0.55%
median tax $1,245 ÷ median home $225,400
Median Home Value1
$225,400
owner-occupied
Median Household Income1
$62,191
per-capita $37,791
Est. Annual Tax on Median Home1
$1,245
at 0.55% effective rate

What you'll pay, at a glance

Property taxes are the largest local tax most homeowners pay. The effective rate measures the real tax bill as a share of home value — a more useful number than the nominal “mill rate,” because assessment practices vary county to county.

MetricFloyd CountyVirginia (state context)
Effective property tax rate10.55%0.60%
Median home value1$225,400—
State income tax3top rate 5.75%top rate 5.75%
State sales tax35.77% combined5.77% combined

How this is calculated

The effective property tax rate is the median real-estate tax bill divided by the median home value — both for owner-occupied homes, from the U.S. Census Bureau's American Community Survey (ACS 5-year estimates)1. Median income is also from the ACS1. Federal and state income-tax figures use IRS2 and Tax Foundation3 data.

About Floyd County, VA

Floyd County's effective property tax rate of 0.552% sits below Virginia's statewide median of 0.601%, and it trails the national median of 0.794% by a wider margin. Among the state's 133 counties, this places Floyd County at 88th, putting it in the lower-middle portion of the ranking. A home valued at the median $225,400 generates an annual real-estate tax bill of about $1,245. With median household income at $62,191 and per-capita income at $37,791, that tax load stays contained against what residents earn. The county seat of Floyd anchors a rural community that also includes Check and Copper Hill. What this pattern signals is a locality where property taxes take a smaller share of value than in many peer counties across the country, though the ranking within Virginia shows several counties still levy less.

Frequently asked questions

What is the property tax rate in Floyd County, VA?
The effective rate is 0.55% — meaning the median tax bill equals about 0.55% of the median home value.
How much are property taxes on a median home?
On the median home ($225,400), the estimated annual bill is about $1,245.
Is Floyd County's rate high or low?
Compare it to the state median of 0.60% and the national average near 1.1%.
How does the effective rate differ from my mill rate?
A mill rate is the nominal levy per $1,000 of assessed value. The effective rate reflects what you actually pay after exemptions and assessments — it's the median tax bill as a share of median home value, so it better predicts your real cost.
Will a reassessment raise my tax bill?
Not necessarily. If your home's assessed value rises, your bill can go up, but only if the mill rate and exemptions stay flat. Contact the Floyd County assessor's office to review your current assessment.
Can I appeal my property tax assessment?
Yes. Most counties allow an appeal when you believe the assessed value exceeds the market value. File with the Floyd County assessor within the local deadline, typically with comparable sales as evidence.
Sources
[1] U.S. Census Bureau — ACS 5-Year (2023) — Median home value (B25077), median real-estate taxes (B25103), median household income (B19013), per-capita income (B19301).
[2] IRS — Statistics of Income — County income, AGI, and real-estate taxes paid.
[3] Tax Foundation — State income, sales, corporate, and estate/inheritance tax rates.