Rockbridge County, Virginia Property Taxes
The median property tax rate in Rockbridge County is 0.61%, which is significantly lower than both the national median of 0.99% and the Virginia state median of 0.89%. With the median home value in Rockbridge County at $223,300, the typical annual property tax bill reaches $1,277, well below the national median of $2,690. Property taxes in Rockbridge County are calculated based on the tax assessed value, which often falls below the actual market value due to various property tax exemptions such as the primary residence and agricultural exemptions. Understanding Rockbridge County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Lexington or another part of Rockbridge County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Rockbridge County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$1,362
$1,264
Ownwell’s Rockbridge Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Rockbridge with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Rockbridge to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Rockbridge County, Virginia
Property taxes in Rockbridge play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Rockbridge is 0.61%, which is lower than the U.S. national median of 0.99%. Local government entities within Rockbridge set these rates annually, and they can vary significantly between different areas within the county. Each year, Rockbridge estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Rockbridge's effective property tax rate with other counties in Virginia and the national median. For comparison, the city of Buchanan has one of the higher property tax rates in Virginia at 0.61%, while the city of Middlebrook boasts one of the lowest at 0.56%. Analyzing how Rockbridge's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Rockbridge County Tax Rate
0.61%
Average Virginia Tax Rate
0.89%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rockbridge County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Brownsburg | 0.48% | 0.61% | 0.61% | 0.61% | 0.61% |
| Buchanan | 0.61% | 0.61% | 0.61% | 0.61% | 0.61% |
| Buena Vista | 0.50% | 0.61% | 0.61% | 0.61% | 0.61% |
| Fairfield | 0.41% | 0.61% | 0.61% | 0.61% | 0.61% |
| Glasgow | 0.60% | 0.61% | 0.61% | 0.61% | 0.61% |
| Goshen | 0.35% | 0.61% | 0.61% | 0.61% | 0.61% |
| Lexington | 0.47% | 0.61% | 0.61% | 0.61% | 0.61% |
| Middlebrook | 0.29% | 0.37% | 0.56% | 0.61% | 0.61% |
| Natural Bridge | 0.37% | 0.61% | 0.61% | 0.61% | 0.61% |
| Natural Bridge Station | 0.59% | 0.61% | 0.61% | 0.61% | 0.61% |
| Raphine | 0.40% | 0.61% | 0.61% | 0.61% | 0.61% |
| Rockbridge Baths | 0.37% | 0.57% | 0.61% | 0.61% | 0.61% |
| Steeles Tavern | N/A | N/A | N/A | N/A | N/A |
| Vesuvius | 0.46% | 0.61% | 0.61% | 0.61% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Rockbridge County, Virginia
In Rockbridge, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Rockbridge Appraisal District. The assessed value, however, 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. Assessment notices in Rockbridge are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. In Rockbridge, the median home price is $223,300. The highest median tax bill is found in Raphine at $1,662, while Goshen has the lowest at $684. Being aware of these valuation processes will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Rockbridge County, Virginia
Source: Ownwell
$123,300
$252,975
$382,650
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 Rockbridge County, Virginia
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Brownsburg | $72,220 | $201,900 | $282,500 | $387,500 | $469,880 |
| Buchanan | $75,940 | $149,100 | $175,900 | $206,500 | $333,980 |
| Buena Vista | $70,110 | $117,975 | $171,150 | $279,950 | $475,890 |
| Fairfield | $121,840 | $175,850 | $257,800 | $390,800 | $561,600 |
| Glasgow | $59,500 | $92,200 | $137,300 | $226,600 | $388,600 |
| Goshen | $30,200 | $72,800 | $123,300 | $217,000 | $366,840 |
| Lexington | $111,940 | $172,800 | $272,300 | $418,700 | $598,120 |
| Middlebrook | $155,100 | $251,200 | $382,650 | $521,625 | $841,050 |
| Natural Bridge | $86,320 | $134,300 | $223,500 | $362,200 | $607,190 |
| Natural Bridge Station | $37,650 | $77,625 | $125,450 | $187,775 | $277,210 |
| Raphine | $123,320 | $188,100 | $290,500 | $477,750 | $750,840 |
| Rockbridge Baths | $106,990 | $174,000 | $280,650 | $444,775 | $674,990 |
| Steeles Tavern | N/A | N/A | N/A | N/A | N/A |
| Vesuvius | $62,210 | $112,500 | $179,950 | $299,450 | $434,370 |
Source: Ownwell
Property Tax Bills Across Rockbridge County, Virginia
In Rockbridge County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the property. Homeowners in Rockbridge County experience a range of property tax bills, with the 25th percentile paying around $767 annually, while those in the 75th percentile see bills closer to $2,081. At the higher end, the 90th percentile faces tax bills of about $3,105. Several factors influence the tax bill, including the property's assessed value, local tax rates, and any applicable exemptions or deductions. For example, properties in Raphine have the highest median tax bill at $1,662, whereas those in Goshen enjoy the lowest median tax bill at $684. These variations can significantly impact homeowners, affecting their annual expenses and overall financial planning. Compared to the national median property tax rate of 0.99%, Rockbridge County's property tax rates can offer some relief or present a higher financial burden, depending on the specific locality and property value.
Average Rockbridge County Tax Bill
$1,277
Average Virginia Tax Bill
$2,608
Average United States Tax Bill
$2,690
Property Tax Bills Across Rockbridge County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Brownsburg | $366 | $1,089 | $1,590 | $1,978 | $2,528 |
| Buchanan | $463 | $910 | $1,073 | $1,260 | $2,037 |
| Buena Vista | $344 | $678 | $1,022 | $1,628 | $2,528 |
| Fairfield | $604 | $985 | $1,471 | $2,187 | $3,095 |
| Glasgow | $330 | $534 | $825 | $1,373 | $2,177 |
| Goshen | $147 | $401 | $684 | $1,177 | $1,792 |
| Lexington | $562 | $991 | $1,550 | $2,378 | $3,347 |
| Middlebrook | $786 | $1,368 | $1,628 | $2,619 | $3,756 |
| Natural Bridge | $430 | $774 | $1,271 | $1,919 | $3,152 |
| Natural Bridge Station | $193 | $411 | $717 | $1,084 | $1,597 |
| Raphine | $673 | $1,010 | $1,662 | $2,503 | $3,579 |
| Rockbridge Baths | $527 | $981 | $1,552 | $2,430 | $3,526 |
| Steeles Tavern | N/A | N/A | N/A | N/A | N/A |
| Vesuvius | $334 | $607 | $1,018 | $1,673 | $2,606 |
Source: Ownwell