Lawrenceville, Virginia Property Taxes
The median property tax rate in Lawrenceville, VA is 0.65%, noticeably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Lawrenceville at $38,400, the typical annual property tax bill amounts to $243, significantly below the national median of $2,690. Property taxes in Lawrenceville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as the primary residence and agricultural exemptions. Understanding Lawrenceville's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Lawrenceville or another part of Brunswick County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lawrenceville, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$250
Ownwell’s Lawrenceville Property Tax Bill Calculator offers homeowners, real estate investors, and potential buyers a quick way to estimate their annual property taxes in Lawrenceville. By simply entering your property's estimated assessed value, the calculator uses the median tax rate for Lawrenceville to provide an accurate estimate of your property tax bill. This powerful tool helps you anticipate potential tax obligations, giving you a clearer financial picture. For those interested in more detailed information, localized trends are available further down the page. Your property's assessed value is determined by Brunswick County for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Lawrenceville, Virginia
Property taxes in Lawrenceville, Virginia, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lawrenceville is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within Lawrenceville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lawrenceville 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 Lawrenceville's effective property tax rate to other counties in Virginia and the national median. For comparison, the zip code 23868 has the highest median property tax rate of 0.65%, while the same zip code also has the lowest median tax rate of 0.65%. Understanding how these areas compare with Lawrenceville provides valuable insights into the varying tax landscape across Brunswick County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lawrenceville Tax Rate
0.65%
Average Brunswick County Tax Rate
0.65%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lawrenceville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23868 | 0.65% | 0.65% | 0.65% | 0.65% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Lawrenceville, Virginia
In Lawrenceville, 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 Brunswick 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 Lawrenceville, 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 Lawrenceville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 23868 has the highest median tax bill at $243.00, while the lowest is also $243.00, reflecting a consistent tax landscape across the region.
Average Lawrenceville Assessed Value
$38,400
Average Brunswick County Assessed Value
$41,900
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lawrenceville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23868 | $12,240 | $21,100 | $38,400 | $64,200 | $102,380 |
Source: Ownwell
Property Tax Bills Across Lawrenceville, Virginia
In Lawrenceville, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $38,400, the tax bill can vary significantly. Homeowners in the 25th percentile can expect to pay around $142, while those in the 75th percentile might see bills closer to $392. At the 90th percentile, tax bills can reach up to $645. Several factors influence these variations, including changes in property values and local tax rates. The highest median tax bill in the area is $243, which is consistent across zip codes like 23868. Comparatively, the national median property tax rate is 0.99%, indicating that Lawrenceville's property tax burden can be relatively lower. For homeowners, understanding these factors is crucial as they directly impact annual financial obligations and long-term property investment decisions.
Average Lawrenceville Tax Bill
$243
Average Brunswick County Tax Bill
$272
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Lawrenceville, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23868 | $75 | $142 | $243 | $392 | $645 |
Source: Ownwell