Broadlands, Virginia Property Taxes
The median property tax rate in Broadlands, VA is 0.88%, slightly lower than the Virginia state median of 0.89% but still below the national median of 0.99%. With the median home value in Broadlands at $819,820, the typical annual property tax bill reaches $7,173, significantly surpassing the national median of $2,690. Property taxes in Broadlands 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 Broadlands' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Broadlands 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
Broadlands, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$7,214
Ownwell’s Broadlands Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Broadlands with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Broadlands 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 Broadlands, Virginia
Property taxes in Broadlands, Virginia, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Broadlands is 0.88%, which is lower than the U.S. national median of 0.99%. Local government entities within Broadlands set these rates annually, and they can vary significantly across different neighborhoods. Each year, Broadlands 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 Broadlands' effective property tax rate to other areas in Virginia and the national median. For comparison, the 20148 zip code has the highest median property tax rate of 0.88%, while the same zip code also has the lowest median tax rate of 0.88%. Understanding how these areas compare with Broadlands 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 Broadlands 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 Broadlands, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20148 | 0.87% | 0.87% | 0.88% | 0.88% | 0.88% |
Source: Ownwell
Property Tax Assessment Values Across Broadlands, Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Broadlands, VA. 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 Broadlands, 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 Broadlands is $7,173 in the 20148 zip code, which is also the lowest median 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 Broadlands helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Broadlands, Virginia
Source: Ownwell
$444,410
$1,026,460
$1,608,510
Average Broadlands Assessed Value
$819,820
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 Broadlands, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20148 | $482,840 | $591,010 | $819,820 | $924,805 | $1,078,420 |
Source: Ownwell
Property Tax Bills Across Broadlands, Virginia
In Broadlands, located in Loudoun County, VA, property tax bills are calculated based on the assessed value of a home. The county uses a specific assessment rate to determine this value, which is then multiplied by the local property tax rate. For example, the median home price in Broadlands is $819,820. Property tax bills in this area range widely, with the 25th percentile at $5,182 and the 75th percentile at $8,079. The 90th percentile can see tax bills as high as $9,441. Several factors influence these tax bills, including the property's assessed value, the local tax rate, and any applicable exemptions. Homeowners in Broadlands face higher property taxes compared to the national median property tax rate of 0.99%. This can significantly impact household budgets, making it crucial for homeowners to understand their property assessments and explore any available exemptions to potentially lower their tax burden.
Average Broadlands Tax Bill
$7,173
Average Loudoun County Tax Bill
$5,811
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Broadlands, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 20148 | $4,243 | $5,182 | $7,173 | $8,079 | $9,441 |
Source: Ownwell