Lyndhurst, Virginia Property Taxes
The median property tax rate in Lyndhurst, VA is 0.63%, which is significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Lyndhurst at $188,400, the typical annual property tax bill is $1,147, much less than the national median of $2,690. Property taxes in Lyndhurst are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Lyndhurst's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Lyndhurst or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lyndhurst, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$1,187
Ownwell’s Lyndhurst Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lyndhurst with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lyndhurst to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Lyndhurst, Virginia
Property taxes in Lyndhurst, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lyndhurst is 0.63%, significantly lower than the U.S. national median of 0.99%. Local government entities within Lyndhurst set these rates annually, and they can vary across different neighborhoods. Each year, Lyndhurst estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Lyndhurst's effective property tax rate to other areas and the national median. For comparison, the zip code 22952 has the highest median property tax rate of 0.63%, while the lowest median tax rate is also 0.63%. Understanding how these areas compare with Lyndhurst provides valuable insights into the varying tax landscape across Augusta County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lyndhurst Tax Rate
0.63%
Average Augusta County Tax Rate
0.63%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lyndhurst, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22952 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Lyndhurst, Virginia
In Lyndhurst, Virginia, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Augusta County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Lyndhurst, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Lyndhurst helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Lyndhurst is found in zip code 22952 at $1,147, while the lowest is also in the same zip code at $1,147.
Average Lyndhurst Assessed Value
$188,400
Average Augusta County Assessed Value
$204,500
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lyndhurst, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22952 | $106,900 | $139,400 | $188,400 | $275,050 | $383,420 |
Source: Ownwell
Property Tax Bills Across Lyndhurst, Virginia
In Lyndhurst, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in Lyndhurst is $188,400. Homeowners can expect their tax bills to vary, with the 25th percentile paying around $825, while those in the 75th percentile face bills closer to $1,646. At the 90th percentile, tax bills can reach up to $2,213. These figures reflect the range of property values and the corresponding tax obligations. Several factors influence the assessed value, including the property's size, location, and condition. The local tax rate is then applied to this assessed value to determine the final tax bill. For homeowners, these taxes fund essential community services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, property taxes in Lyndhurst are relatively moderate, providing a balanced approach that supports community needs without placing an undue burden on homeowners.
Average Lyndhurst Tax Bill
$1,147
Average Augusta County Tax Bill
$1,250
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Lyndhurst, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22952 | $581 | $825 | $1,147 | $1,646 | $2,213 |
Source: Ownwell