Leesburg, Virginia Property Taxes
The median property tax rate in Leesburg, VA is 0.88%, slightly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Leesburg at $697,535, the typical annual property tax bill reaches $6,082, significantly exceeding the national median of $2,690. Property taxes in Leesburg are calculated based on the assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Leesburg'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 Leesburg or another part of Loudoun County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Leesburg, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$6,138
Ownwell’s Leesburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Leesburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Leesburg 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 Leesburg, Virginia
Property taxes in Leesburg, Virginia, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Leesburg is 0.88%, slightly lower than the U.S. national median of 0.99%. Local government entities within Leesburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leesburg 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 Leesburg's effective property tax rate to other counties in Virginia and the national median. For comparison, the 20175 zip code has the highest median property tax rate of 0.88%, while the 20176 zip code has the lowest median tax rate of 0.88%. Understanding how these cities compare with Leesburg provides valuable insights into the varying tax landscape across Loudoun County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Leesburg Tax Rate
0.88%
Average Loudoun County Tax Rate
0.88%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leesburg, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20175 | 0.87% | 0.88% | 0.88% | 0.88% | 0.88% |
| 20176 | 0.87% | 0.87% | 0.88% | 0.88% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Leesburg, Virginia
In Leesburg, 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 Loudoun 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 Leesburg, 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 Leesburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Leesburg is $6,101 in the 20176 zip code, while the lowest is $6,051 in the 20175 zip code.
Average Leesburg Assessed Value
$697,535
Average Loudoun County Assessed Value
$662,650
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Leesburg, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20175 | $331,900 | $497,010 | $694,330 | $898,405 | $1,207,618 |
| 20176 | $366,422 | $483,495 | $699,950 | $884,320 | $1,111,966 |
Source: Ownwell
Property Tax Bills Across Leesburg, Virginia
In Leesburg, VA, property tax bills are calculated based on the assessed value of your home, which is determined by the Loudoun County Assessor's Office. This assessed value is then multiplied by the local property tax rate to determine your annual tax bill. The median home price in Leesburg is $697,535, and property tax bills can vary significantly. For example, homeowners in the 25th percentile can expect a tax bill around $4,273, while those in the 75th percentile may see bills as high as $7,753. At the 90th percentile, tax bills can reach up to $9,932. Factors influencing these variations include the property's location within different zip codes, with the highest median tax bill of $6,101 in zip code 20176 and the lowest median tax bill of $6,051 in zip code 20175. Compared to the national median property tax rate of 0.99%, Leesburg's property taxes can be a significant burden for homeowners, impacting their overall financial planning and homeownership costs.
Average Leesburg Tax Bill
$6,082
Average Loudoun County Tax Bill
$5,811
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Leesburg, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20175 | $2,897 | $4,342 | $6,051 | $7,821 | $10,432 |
| 20176 | $3,206 | $4,225 | $6,101 | $7,706 | $9,665 |
Source: Ownwell