Kilmarnock, Lancaster County, Virginia Property Taxes
Median Kilmarnock, VA effective property tax rate: 0.63%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Kilmarnock, VA home value: $147,400
Median annual Kilmarnock, VA tax bill: $917, $1,483 lower than the national median property tax bill of $2,400.
How are property taxes in Lancaster calculated?
Property taxes in Kilmarnock, 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 Kilmarnock’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Kilmarnock, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Kilmarnock, Lancaster County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.63%
Estimate Property Tax Bill
$929
$862
Property Tax Rates Across Kilmarnock, Lancaster 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. Below, you can compare Kilmarnock’s effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S.
Kilmarnock, located in Lancaster County, Virginia, offers an attractive property tax environment. The effective property tax rate here is 0.63%, which is significantly lower than the national median of 1.02%. This means that homeowners in Kilmarnock enjoy one of the most favorable tax rates in the state, providing a substantial advantage for property owners compared to the national average. With Kilmarnock’s property tax rate being the same across the county, residents benefit from a consistent and predictable tax environment. This stability, coupled with a lower tax burden, makes Kilmarnock an appealing choice for those looking to invest in real estate or settle in a community with manageable property taxes.
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 Kilmarnock Tax Rate
0.63%
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 Lancaster County Tax Rate
0.63%
Median Effective Virginia Tax Rate
0.89%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Kilmarnock, Lancaster County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22482 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Kilmarnock, Lancaster County, Virginia
When examining property taxes in Kilmarnock, 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. The Lancaster 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 Lancaster 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 Kilmarnock. For example, the median home price in Kilmarnock is $147,400, with tax bills ranging significantly across the county. 22482 has the highest median home price at $147,400.
Property Tax Assessment Values Across Kilmarnock, Lancaster County, Virginia
Source: Ownwell
$79,150
$187,900
$296,650
Median Kilmarnock Market Value
$147,400
Median Lancaster County Market Value
$195,250
Median Virginia Market Value
$298,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Kilmarnock, Lancaster County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22482 | $68,300 | $107,400 | $147,400 | $198,900 | $282,800 |
Source: Ownwell
Property Tax Bills Across Kilmarnock, Lancaster County, Virginia
Median Kilmarnock Tax Bill
$917
Median Lancaster County Tax Bill
$1,042
Median Virginia Tax Bill
$2,608
Median United States Tax Bill
$2,400
Property Tax Bills Across Kilmarnock, Lancaster County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22482 | $396 | $655 | $917 | $1,242 | $1,749 |
Source: Ownwell