Harrisonburg, Virginia Property Taxes
The median property tax rate in Harrisonburg, VA is 0.96%, slightly below the national median of 0.99% but higher than the Virginia state median of 0.89%. With a median home value of $245,500, the typical annual property tax bill in Harrisonburg is $2,313, which is lower than the national median of $2,690. Property taxes here are calculated based on the assessed value, which is generally less than the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Harrisonburg'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 Harrisonburg or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Harrisonburg, Virginia Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.89%
Estimate Property Tax Bill
$1,780
Ownwell’s Harrisonburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Harrisonburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Harrisonburg 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 Harrisonburg, Virginia
Property taxes in Harrisonburg, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Harrisonburg is 0.96%, slightly lower than the Virginia state median of 1.00% but close to the U.S. national median of 0.99%. Local government entities within Harrisonburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Harrisonburg 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. Understanding how these cities compare with Harrisonburg provides valuable insights into the varying tax landscape across Harrisonburg, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas. For comparison, the 22801 zip code has the highest median property tax rate of 0.96%, while the 22807 zip code has the lowest median tax rate of 0.90%. Comparing these figures with Harrisonburg's rate provides valuable insights into the varying tax landscape across Harrisonburg, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Harrisonburg Tax Rate
0.96%
Average Harrisonburg County Tax Rate
0.96%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Harrisonburg, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22801 | 0.96% | 0.96% | 0.96% | 0.96% | 0.96% |
| 22802 | 0.96% | 0.96% | 0.96% | 0.96% | 0.96% |
| 22807 | 0.90% | 0.90% | 0.90% | 0.93% | 0.95% |
Source: Ownwell
Property Tax Assessment Values Across Harrisonburg, Virginia
In Harrisonburg, 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 local authorities 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 Harrisonburg, 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. For instance, the highest median tax bill in the city is $2,532 in the 22801 zip code, while the lowest median tax bill is $2,062 in the 22802 zip code. 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 helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Harrisonburg Assessed Value
$245,500
Average Harrisonburg County Assessed Value
$245,500
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Harrisonburg, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22801 | $159,700 | $195,500 | $269,100 | $330,550 | $428,400 |
| 22802 | $159,100 | $187,900 | $219,400 | $273,100 | $350,220 |
| 22807 | $172,360 | $241,600 | $589,200 | $45,777,400 | $61,591,660 |
Source: Ownwell
Property Tax Bills Across Harrisonburg, Virginia
Property tax bills in Harrisonburg, VA, are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the market value, which is estimated by the local assessor's office. For example, a median home price in Harrisonburg is $245,500. Homeowners can expect their tax bills to fall within a range, with the 25th percentile at $1,830 and the 75th percentile at $2,859. The highest median tax bill in the area is $2,532, found in the 22801 zip code, while the lowest median tax bill is $2,062 in the 22802 zip code. Factors influencing the tax bill include property characteristics such as size, location, and condition. These taxes fund essential local services like schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, Harrisonburg’s rates can vary but generally reflect the region’s property values and local budgetary needs. This variability can significantly impact homeowners, affecting their annual financial planning and long-term investment in their properties.
Average Harrisonburg Tax Bill
$2,313
Average Harrisonburg County Tax Bill
$2,313
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Harrisonburg, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22801 | $1,523 | $1,856 | $2,532 | $3,091 | $3,996 |
| 22802 | $1,514 | $1,780 | $2,062 | $2,586 | $3,247 |
| 22807 | $1,344 | $1,655 | $2,174 | $220,819 | $352,005 |
Source: Ownwell