Brodnax, Lunenburg County, Virginia Property Taxes
The median property tax rate in Brodnax, VA is 0.38%, significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Brodnax at $120,450, the typical annual property tax bill is $458, far below the national median of $2,690. Property taxes in Brodnax are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Brodnax'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 Brodnax or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Brodnax, Lunenburg County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.38%
Estimate Property Tax Bill
$458
$425
Ownwell’s Brodnax Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Brodnax with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Brodnax to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available by scrolling down. 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 Brodnax, Lunenburg County, Virginia
Property taxes in Brodnax, Virginia, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Brodnax is 0.38%, which is lower than both the Virginia state median of 0.80% and the U.S. national median of 0.99%. Local government entities within Brodnax set these rates annually, and they can vary significantly across different neighborhoods. Each year, Brodnax 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 Brodnax's effective property tax rate to other counties in Virginia and the national median. For comparison, the highest median property tax rate in Virginia is found in Falls Church at 1.30%, while Buchanan County has the lowest median tax rate at 0.29%. Understanding how these cities compare with Brodnax provides valuable insights into the varying tax landscape across Lunenburg County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Brodnax Tax Rate
0.38%
Average Lunenburg County Tax Rate
0.38%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Brodnax, Lunenburg County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23920 | 0.38% | 0.38% | 0.38% | 0.38% | 0.38% |
Source: Ownwell
Property Tax Assessment Values Across Brodnax, Lunenburg County, Virginia
In Brodnax, 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 Lunenburg 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 Brodnax, 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 Brodnax helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $458.00 in the 23920 zip code, while the lowest is also $458.00 in the same zip code.
Property Tax Assessment Values Across Brodnax, Lunenburg County, Virginia
Source: Ownwell
$72,950
$116,975
$161,000
Average Brodnax Assessed Value
$120,450
Average Lunenburg County Assessed Value
$83,400
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Brodnax, Lunenburg County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23920 | $17,510 | $55,125 | $120,450 | $186,625 | $288,060 |
Source: Ownwell
Property Tax Bills Across Brodnax, Lunenburg County, Virginia
Property tax bills in Brodnax, located in Lunenburg County, VA, are determined by the assessed value of a property and the local tax rate. The median home price in Brodnax is $120,450, and the tax rate is applied to this value to calculate the annual tax bill. Factors such as property improvements, neighborhood developments, and market conditions can influence the assessed value, thereby affecting the tax bill. Homeowners in Brodnax can expect their property tax bills to range widely. For instance, the 25th percentile tax bill is $209, while the 75th percentile reaches $709. At the higher end, the 90th percentile tax bill is $1,095. Compared to the national median property tax rate of 0.99%, Brodnax's property tax bills are relatively moderate, with the highest median tax bill in the area being $458.00, found in the 23920 zip code. Understanding these factors helps homeowners anticipate their annual financial obligations and plan accordingly.
Average Brodnax Tax Bill
$458
Average Lunenburg County Tax Bill
$320
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Brodnax, Lunenburg County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23920 | $67 | $209 | $458 | $709 | $1,095 |
Source: Ownwell