Lyndhurst, Nelson County, Virginia Property Taxes
The median property tax rate in Lyndhurst, VA is 0.65%, considerably lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Lyndhurst, the typical annual property tax bill amounts to $736, well below the national median of $2,690. Property taxes in Lyndhurst are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Lyndhurst'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 Lyndhurst 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
Lyndhurst, Nelson County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$803
$745
Ownwell’s Lyndhurst Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lyndhurst with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lyndhurst 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 Lyndhurst, Nelson County, Virginia
Property taxes in Lyndhurst, Virginia, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lyndhurst is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within Lyndhurst set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lyndhurst 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. For comparison, the zip code 22952 has both the highest and lowest median property tax rate of 0.65%. Understanding how these rates compare with Lyndhurst provides valuable insights into the varying tax landscape across Nelson County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lyndhurst Tax Rate
0.65%
Average Nelson County Tax Rate
0.65%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lyndhurst, Nelson County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22952 | 0.23% | 0.38% | 0.65% | 0.65% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Lyndhurst, Nelson County, Virginia
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Lyndhurst, Virginia. 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 local authorities 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 Lyndhurst, 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 Lyndhurst helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 22952 has the highest median tax bill of $736, reflecting the variability in tax burdens within the area.
Property Tax Assessment Values Across Lyndhurst, Nelson County, Virginia
Source: Ownwell
$40,000
$179,400
$318,800
Average Lyndhurst Assessed Value
$123,550
Average Nelson County Assessed Value
$144,600
Average Virginia Assessed Value
$298,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lyndhurst, Nelson County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22952 | $36,000 | $51,850 | $123,550 | $312,000 | $552,050 |
Source: Ownwell
Property Tax Bills Across Lyndhurst, Nelson County, Virginia
In Lyndhurst, located in Nelson County, VA, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by local government assessors, who evaluate the property's market value and apply a specific tax rate. The median home price in Lyndhurst is $123,550, which forms the basis for calculating the tax bill. Homeowners in this area experience a range of tax bills, with the 25th percentile paying around $310 and the 75th percentile paying up to $1,608. Several factors influence the final tax bill, including property size, location, and any applicable exemptions or appeals. Compared to the national median property tax rate of 0.99%, Lyndhurst's rates can vary significantly, impacting homeowners differently based on their property's assessed value. The highest median tax bill in the area is $736, which is notably lower than many other regions, providing some relief to local homeowners. Understanding these factors helps homeowners anticipate and manage their property tax obligations effectively.
Average Lyndhurst Tax Bill
$736
Average Nelson County Tax Bill
$896
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Lyndhurst, Nelson County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22952 | $176 | $310 | $736 | $1,608 | $2,221 |
Source: Ownwell