HonestCasa logoHonestCasa
All Tax Guides
Updated 2025 Tax Year

Martinsville County
Property Tax Guide

Everything you need to know about property taxes in Martinsville County, VA. Rates, due dates, exemptions, and how it affects your monthly payment.

10 Official Sources
8 min read
Calculate Your True CostMortgage Calculator
Quick Facts
Tax Rate
$0.99 per $100 of assessed value (0.99% effective rate)
Exemptions
4+ Available
Section 1

How Property Tax Works

Martinsville County, Virginia operates as an independent city with its own property tax system that funds essential municipal services including public safety, education, infrastructure maintenance, and community programs. The city administers and collects its own property taxes, providing direct local control over tax assessment and collection processes.

For the current fiscal year (FY 2025), the property tax rate is set at $0.99 per $100 of assessed value for real estate. Property taxes in Martinsville are based on the assessed fair market value of real estate as determined by the city assessor's office. The effective tax rate of approximately 0.99% aligns closely with Virginia's statewide average, making Martinsville a moderately-taxed jurisdiction within the Commonwealth. Property owners should note that various tax relief programs are available but require formal application and eligibility verification.

Section 2

What Makes Up Your Tax Bill

ComponentRate per $100Description
Base Real Estate Tax$0.99Primary municipal tax rate for FY 2025
Personal Property TaxVariesApplied to vehicles, boats, and business equipment
Special AssessmentsAs applicableAdditional charges for specific improvements or districts

The $0.99 per $100 assessed value rate applies to all real estate within Martinsville city limits for fiscal year 2025. This rate is established annually by the City Council and may be subject to adjustment in future fiscal years. Unlike counties with multiple special taxing districts, Martinsville maintains a uniform base rate across the city, though special assessments may apply to specific properties for infrastructure improvements or special services.

Section 3

When Are Property Taxes Due?

For the 2025/2026 tax year in Martinsville County, property taxes are due in two installments:

Pro tip: If you pay through mortgage escrow, your lender splits these payments across your monthly mortgage. If you pay directly, set calendar reminders to avoid late penalties.
Section 4

Supplemental Tax Bills

Supplemental taxes in Martinsville are additional property tax bills issued when there are changes to property ownership, value, or use during the tax year. Common triggers include new construction completion, major renovations that increase assessed value, or change of property use classification. When supplemental taxes are issued, they are calculated based on the current tax rate applied to the increased assessed value for the remaining portion of the fiscal year.

For example, if new construction worth $100,000 is completed and assessed in January (halfway through the fiscal year), the supplemental tax would be calculated as: ($100,000 ÷ 100) × $0.99 × 0.5 (remaining months) = $495. Property owners typically receive supplemental tax bills within 60 days of the triggering event and payment is generally due within 30 days of the bill date.

Example Calculation

Example 1: $300,000 Home

  • Assessed Value: $300,000
  • Elderly/Disabled Tax Relief Applied: -$50,000 (if qualified and applied)
  • Net Taxable Value: $250,000
  • Annual Tax: ($250,000 ÷ 100) × $0.99 = $2,475
  • Monthly Escrow: $206.25

Example 2: $600,000 Home

  • Assessed Value: $600,000
  • Standard Deductions Applied: $0 (no automatic exemptions)
  • Net Taxable Value: $600,000
  • Annual Tax: ($600,000 ÷ 100) × $0.99 = $5,940
  • Monthly Escrow: $495.00

Example 3: $1,000,000 Home

  • Assessed Value: $1,000,000
  • Veterans Tax Relief Applied: -$10,000 (if qualified and applied)
  • Net Taxable Value: $990,000
  • Annual Tax: ($990,000 ÷ 100) × $0.99 = $9,801
  • Monthly Escrow: $816.75

Note: Tax relief programs require annual application and eligibility verification.

See How Taxes Affect Your Payment

Property taxes are just part of your total monthly cost. Get the full picture.

Calculate Now
Section 5

Escrow & Property Taxes

Most mortgage lenders in Martinsville require property tax escrow accounts for borrowers with less than 20% down payment or upon borrower request. Lenders collect monthly escrow payments equal to 1/12th of the estimated annual property tax bill, plus a small cushion for potential tax increases. These funds are held in a separate escrow account and used to pay property taxes when they become due on June 5 and December 5 each year.

Lenders typically pay property taxes directly to the city a few days before the due date to ensure timely payment and avoid penalties. Property owners should receive an annual escrow analysis from their lender showing the previous year's tax payments and any adjustments needed for the coming year. If property taxes increase due to reassessment or rate changes, monthly escrow payments may be adjusted accordingly. Property owners remain responsible for verifying that taxes are paid correctly and on time, even when using escrow services.

How HonestCasa Helps
  • Understand whether your escrow is set correctly
  • See how rising taxes will change your monthly payment
  • Plan ahead instead of being surprised by "shortage" letters
Section 6

Frequently Asked Questions

Q: When are property taxes due in Martinsville for FY 2025? A: Property taxes are due twice yearly on June 5 and December 5. Late payments incur penalties and interest charges.

Q: What tax relief programs are available and do they require application? A: Yes, all tax relief programs require annual application by April 1. Available programs include elderly/disabled tax relief, veterans' exemptions, and disability tax relief. None are automatic.

Q: How does the elderly tax relief program work? A: Qualified elderly or disabled residents may receive tax relief on a portion of their home's assessed value. This is a tax credit that reduces the taxable assessment, not the market value. Application deadline is April 1 annually.

Q: When does the city reassess properties? A: Martinsville conducts ongoing property assessments with formal reassessment cycles. Property owners receive assessment notices and have appeal rights through the Board of Equalization.

Q: What are the penalties for late tax payments? A: Late payments incur interest and penalty charges. Contact the city treasurer's office for current penalty rates and payment arrangements.

Q: Can I pay property taxes online? A: Yes, the city typically offers online payment options. Check the official city website or contact the treasurer's office for available payment methods.

Q: Do I need to live in my property to qualify for tax relief programs? A: Yes, most tax relief programs require owner occupancy. Applicants must own and occupy the property as their primary residence, with limited exceptions.

Q: Who do I contact for assessment appeals or tax relief applications? A: Contact the city assessor's office for assessment matters and tax relief applications. The Board of Equalization handles formal assessment appeals during designated periods.

Verified Sources

Backed by 10 Official Government Sources

Every fact in this guide is sourced from official county, state, and federal documents.

01
State
Real Estate Assessments | Martinsville, VAmartinsville-va.gov
02
Monthly Financial Report As of February 28, 2025martinsville-va.gov
03
Tax Doc
Rates & Taxes | Martinsville, VAmartinsville-va.gov
04
Frequently Asked Questions - CivicPlus.CMS.FAQmartinsville-va.gov
05
Martinsville, VA | Official Websitemartinsville-va.gov
06
Tax Doc
Important Tax Deadlines | Martinsville, VAmartinsville-va.gov
07
Commissioner of the Revenue | Martinsville, VAmartinsville-va.gov
08
Government | Martinsville, VAmartinsville-va.gov
09
Martinsville, Virginiamartinsville-va.gov
10
Martinsville, Virginiamartinsville-va.gov
All sources verified as of 2025 Tax Year

See the Full Picture of Your Home Costs

Property taxes are just one piece of homeownership. HonestCasa helps you understand your total monthly cost and explore safe ways to access your home equity.

Total Monthly Cost

Mortgage + taxes + insurance + HOA

Equity Growth

Track how your equity grows over time

Safe Equity Access

Options for projects or debt payoff

Run Your ScenarioTry Calculator

Free • No credit check • 2-minute estimate