Brownsburg, Virginia Property Taxes
The median property tax rate in Brownsburg, VA is 0.61%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Brownsburg at $282,500, the typical annual property tax bill amounts to $1,590, which is well below the national median of $2,690. Property taxes in Brownsburg are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Brownsburg'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 Brownsburg 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
Brownsburg, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$1,723
Ownwell’s Brownsburg Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Brownsburg with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brownsburg 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 Brownsburg, Virginia
Property taxes in Brownsburg, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Brownsburg is 0.61%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Brownsburg set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brownsburg 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 Brownsburg's effective property tax rate to other areas in Virginia and the national median. For comparison, the zip code 24415 has both the highest and lowest median property tax rate of 0.61%, reflecting the uniformity in this region. Understanding how these areas compare with Brownsburg provides valuable insights into the varying tax landscape across Rockbridge County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brownsburg Tax Rate
0.61%
Average Rockbridge County Tax Rate
0.61%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brownsburg, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24415 | 0.48% | 0.61% | 0.61% | 0.61% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Brownsburg, Virginia
In Brownsburg, 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 Rockbridge 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 Brownsburg, 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 Brownsburg helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 24415 at $1,590, while the lowest median tax bill is also in 24415 at $1,590.
Average Brownsburg Assessed Value
$282,500
Average Rockbridge County Assessed Value
$223,300
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brownsburg, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24415 | $72,220 | $201,900 | $282,500 | $387,500 | $469,880 |
Source: Ownwell
Property Tax Bills Across Brownsburg, Virginia
In Brownsburg, VA, property tax bills are calculated based on the assessed value of the home, which is determined by the local assessor's office. The assessed value is a percentage of the property's market value. The property tax rate in Brownsburg is applied to this assessed value to determine the annual tax bill. Factors influencing the tax bill include the property's assessed value, the local tax rate, and any applicable exemptions or deductions. The median home price in Brownsburg is $282,500, and tax bills in the area can vary significantly. For instance, the 25th percentile tax bill is $1,089, while the 75th percentile tax bill is $1,978. The 90th percentile tax bill reaches up to $2,528. Compared to the national median property tax rate of 0.99%, Brownsburg homeowners experience a range of tax bills, influenced by property values and local tax policies. This variability can significantly impact homeowners' annual expenses, making it essential to understand how local property taxes are calculated.
Average Brownsburg Tax Bill
$1,590
Average Rockbridge County Tax Bill
$1,277
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Brownsburg, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24415 | $366 | $1,089 | $1,590 | $1,978 | $2,528 |
Source: Ownwell