Property Tax Near Lake Moomaw Virginia

Bath County: Approx $0.450 per $100

Bath County's real property tax rate is approximately $0.450 per $100 of assessed value TY2025 -- confirm the current exact rate directly with the Bath County Commissioner of Revenue, as rates are set annually by the Board of Supervisors and this figure reflects recent publicly available data. Bath County's rate is among the lower county rates in Virginia, a reflection of the county's limited commercial and industrial tax base (most of the county is either National Forest or the Homestead Resort's private land) and the corresponding reliance on residential property tax as a primary local revenue source. Bath County home values are low enough that even a modest millage rate produces manageable annual bills: a $150,000 home generates approximately $675 annually. A $200,000 home: $900. A $250,000 home: $1,125.

Bath County reassesses real property on a schedule -- confirm the current assessed value of any specific property with the Bath County Commissioner of Revenue (540-839-7231) before closing. Bath County is small enough that the Commissioner's office can often address specific property questions quickly. For buyers concerned about post-purchase assessment increases, understanding the reassessment cycle timeline matters: a property that sold significantly above its assessed value may trigger an interim review.

Alleghany County: Approx $0.630 per $100

Alleghany County's TY2025 real property tax rate is approximately $0.630 per $100 -- confirm the current exact rate with Alleghany County. The county seat of Covington is separate from Alleghany County for tax purposes -- properties within the City of Covington pay Covington's city tax rate, while properties in unincorporated Alleghany County pay the county rate. Buyers choosing Covington's city services should confirm whether specific addresses are in the city or county jurisdiction before comparing tax rates between options.

Virginia Retirement Tax Advantages

Virginia exempts Social Security benefits from state income tax. The Virginia Age Deduction allows up to $12,000 per qualifying filer for residents 65 and older (subject to adjusted gross income phase-outs). Military retirement income is fully exempt from Virginia income tax for residents 55 and older. These state-level advantages apply regardless of whether the buyer chooses Bath County or Alleghany County. Bath County also offers real estate tax relief for elderly and disabled residents who meet income and net worth qualifications -- contact the Bath County Commissioner of Revenue for current thresholds and application requirements. For qualifying senior homeowners on fixed incomes, tax relief can meaningfully reduce the annual tax burden on a rural Bath County home.