Settlement promoted by the Kinkaid Act of 1904 was directly responsible for the establishment of Valleyview, originally called Riverview. In February 1912 Walter Hesselgesser and Earl Cronk opened Valleyview Store, which included a grocery, living quarters, lunch room, lodging rooms, and gas station. A community hall was located on the second floor. A post office opened in 1914. By the 1920s the village consisted of several residences, a livery stable, a garage, a blacksmith shop, and School District 17 which was moved to Valleyview in 1916. The post office closed in 1937 and the store in 1939 due to decreasing population and better transportation and roads in the area.
On October 16, 1940, Sheriff George Brock of Taylor was murdered at Valleyview by John Birkes. He had come to serve an eviction notice to John and Willard Birkes, who had brought their nephew Richard to town to register for the draft. A chase, utilizing an airplane, resulted in the trio's eventual capture and imprisonment.
The site of Valleyview is now part of the Valley View Flat Recreation area at the Calamus Reservoir.