Martinsville city, Virginia Property Taxes
Census Bureau ACS property tax data for Virginia. Population: 3,184.
The median annual property tax in Martinsville city is $746, which is 62% lower than the Virginia state average and 61% below the national average. The effective tax rate is 0.81% on a median home value of $92,500. Property taxes represent 1.8% of the median household income in this county.
Median Annual Tax
$746
-62% vs State
-61% vs US
Median Home Value
$92,500
-67% vs State
-56% vs US
Effective Tax Rate
0.81%
+21% vs State
-15% vs US
With vs Without Mortgage
With Mortgage
$797
$66/mo
Without Mortgage
$673
$56/mo
Homeowners with a mortgage typically own higher-valued properties, which can result in higher tax bills.
Property Tax History
| Year | Median Tax | Effective Rate |
|---|---|---|
| 2023 | $746 -2.7% | 0.81% |
| 2022 | $767 +3.2% | 0.93% |
| 2021 | $743 +2.3% | 0.96% |
| 2020 | $726 -5.5% | 0.92% |
| 2019 | $768 | 0.88% |
Tax Burden
Tax-to-Income Ratio
1.8%
of median household income
Median Income
$42,434
per year
Monthly Tax
$62
per month
Other Counties in Virginia
Madison County
Tax: $1,967/yr Rate: 0.59%
Portsmouth city
Tax: $2,452/yr Rate: 1.07%
Franklin County
Tax: $1,188/yr Rate: 0.53%
Wise County
Tax: $658/yr Rate: 0.56%
Salem city
Tax: $2,232/yr Rate: 0.91%
Bland County
Tax: $868/yr Rate: 0.55%
Frequently Asked Questions
What is the average property tax in Martinsville city, Virginia? ▼
The median annual property tax in Martinsville city is $746 based on the most recent Census Bureau American Community Survey data. The effective tax rate is 0.81% on a median home value of $92,500.
How does Martinsville city property tax compare to the national average? ▼
Property taxes in Martinsville city are 61% below the national average of $1,923. The effective rate of 0.81% compares to 0.95% nationally.
Does having a mortgage affect property taxes in Martinsville city? ▼
In Martinsville city, homeowners with a mortgage pay a median of $797 in annual property taxes, while homeowners without a mortgage pay $673. This difference often reflects the value of homes rather than different tax rates.
What percentage of income goes to property taxes in Martinsville city? ▼
Property taxes in Martinsville city represent approximately 1.8% of the median household income of $42,434. The national benchmark is generally 2-4% of household income.
Explore More Data
Data source: U.S. Census Bureau, American Community Survey 5-Year Estimates. Property tax data reflects median amounts paid by homeowners. Effective rates are calculated as median tax divided by median home value.