Lunenburg, Lunenburg County, Virginia Property Taxes
- Median Lunenburg, VA effective property tax rate: 0.38%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
- Median Lunenburg, VA home value: $113,100
- Median annual Lunenburg, VA tax bill: $430, $1,970 lower than the national median property tax bill of $2,400.
How are property taxes in Lunenburg calculated?
Property taxes in Lunenburg, VA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Lunenburg’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lunenburg, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Lunenburg, Lunenburg County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.38%
Estimate Property Tax Bill
$430
$399
Ownwell’s Lunenburg Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Lunenburg with just two data points.
By entering your property's estimated assessed value, our calculator applies Lunenburg’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations.
This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in 51111.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Lunenburg, Lunenburg County, Virginia
Local government entities determine tax rates, which can vary significantly within a state. This variation is due to the annual budgeting process where each county estimates the funds needed to provide services and divides this by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is the fundamental process that occurs each year.
In Lunenburg, VA, property owners benefit from a notably lower effective property tax rate compared to the national median of 1.02%. The median property tax rate in Lunenburg is also below Virginia's state median, offering residents a financial advantage. This means that homeowners in Lunenburg pay significantly less in property taxes than the average American homeowner, whose median property tax bill is $2,400. For those considering a move or investment in Virginia, Lunenburg stands out as an attractive option due to its favorable tax rates. By understanding these differences, property owners can make informed decisions and potentially realize substantial savings.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Lunenburg Tax Rate
0.38%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Lunenburg County Tax Rate
0.38%
Median Effective Virginia Tax Rate
0.89%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lunenburg, Lunenburg County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23952 | 0.38% | 0.38% | 0.38% | 0.38% | 0.38% |
Source: Ownwell
Property Tax Assessment Values Across Lunenburg, Lunenburg County, Virginia
When examining property taxes in Lunenburg, VA, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. Lunenburg County estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Lunenburg County, assessment notices are sent in the spring each year, typically reaching your mailbox by the middle of March. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Lunenburg.
For example, the median home price in Lunenburg is $113,100, with tax bills ranging significantly across the county. Zip code 23952 has the highest median home price at $113,100.
Property Tax Assessment Values Across Lunenburg, Lunenburg County, Virginia
Source: Ownwell
$72,950
$116,975
$161,000
Median Lunenburg Market Value
$113,100
Median Lunenburg County Market Value
$83,400
Median Virginia Market Value
$298,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lunenburg, Lunenburg County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23952 | $37,590 | $65,025 | $113,100 | $201,325 | $309,550 |
Source: Ownwell
Property Tax Bills Across Lunenburg, Lunenburg County, Virginia
Median Lunenburg Tax Bill
$430
Median Lunenburg County Tax Bill
$320
Median Virginia Tax Bill
$2,608
Median United States Tax Bill
$2,400
Property Tax Bills Across Lunenburg, Lunenburg County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23952 | $143 | $247 | $430 | $765 | $1,176 |
Source: Ownwell