Lanexa, James City County, Virginia Property Taxes
Median Lanexa, VA effective property tax rate: 0.83%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Lanexa, VA home value: $246,350
Median annual Lanexa, VA tax bill: $2,007, $393 lower than the national median property tax bill of $2,400.
How are property taxes in James City calculated?
Property taxes in Lanexa, 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 Lanexa’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lanexa, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Lanexa, James City County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.83%
Estimate Property Tax Bill
$2,045
$1,897
Property Tax Rates Across Lanexa, James City County, Virginia
Local government entities set tax rates, which can vary widely within a state. Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Lanexa in James City County, Virginia, offers a unique perspective on property tax rates. The city’s effective tax rate is 0.83%, which is below the national median of 1.02%. This means that homeowners in Lanexa benefit from relatively lower property tax bills compared to other areas in the U.S. The median property tax rate in Virginia is also 0.83%, aligning Lanexa with the state average. This consistency provides a stable environment for property owners, ensuring predictability in their annual tax obligations.
For property owners in Lanexa, understanding these figures is crucial for financial planning and investment decisions. By staying informed about local tax rates, residents can better manage their expenses and make strategic choices about their properties.
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 Lanexa Tax Rate
0.83%
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 James City County Tax Rate
0.83%
Median Effective Virginia Tax Rate
0.89%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lanexa, James City County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23089 | 0.83% | 0.83% | 0.83% | 0.83% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Lanexa, James City County, Virginia
When examining property taxes in Lanexa, Virginia, 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. The James City County appraisal district 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 James City County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. 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 Lanexa. For example, the median home price in Lanexa is $246,350, with tax bills ranging significantly across the county. Zip code 23089 has the highest median home price at $246,350.
Property Tax Assessment Values Across Lanexa, James City County, Virginia
Source: Ownwell
$246,350
$299,225
$352,100
Median Lanexa Market Value
$246,350
Median James City County Market Value
$333,650
Median Virginia Market Value
$298,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lanexa, James City County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23089 | $112,900 | $173,575 | $246,350 | $373,225 | $514,070 |
Source: Ownwell
Property Tax Bills Across Lanexa, James City County, Virginia
Median Lanexa Tax Bill
$2,007
Median James City County Tax Bill
$2,739
Median Virginia Tax Bill
$2,608
Median United States Tax Bill
$2,400
Property Tax Bills Across Lanexa, James City County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23089 | $773 | $1,374 | $2,007 | $3,034 | $4,197 |
Source: Ownwell