Lancaster, Lancaster County, Virginia Property Taxes
Median Lancaster, 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 Lancaster, VA home value: $155,400
Median annual Lancaster, VA tax bill: $948, $1,452 lower than the national median property tax bill of $2,400.
How are property taxes in Lancaster calculated?
Property taxes in Lancaster, 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 Lancaster’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lancaster, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Lancaster, 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
$979
$909
Property Tax Rates Across Lancaster, Lancaster County, Virginia
Local government entities set tax rates, which can vary widely within a state. 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.
In Lancaster County, Virginia, the effective property tax rate is a reflection of this process. The county's tax rate is notably lower than the national median property tax rate of 1.02%, offering a more affordable option for homeowners compared to many other regions across the United States. This lower rate can be a significant advantage for property owners in Lancaster County, as it results in a reduced financial burden compared to the national average.
Below, you can compare Lancaster's effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S.
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 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 Lancaster, Lancaster County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22503 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Lancaster, Lancaster County, Virginia
When examining property taxes in Lancaster, 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 the season. 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 Lancaster. For example, the median home price in Lancaster is $155,400, with tax bills ranging significantly across the county. Zip code 22503 has the highest median home price at $155,400.
Property Tax Assessment Values Across Lancaster, Lancaster County, Virginia
Source: Ownwell
$79,150
$187,900
$296,650
Median Lancaster Market Value
$155,400
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 Lancaster, Lancaster County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22503 | $35,880 | $79,900 | $155,400 | $358,500 | $543,660 |
Source: Ownwell
Property Tax Bills Across Lancaster, Lancaster County, Virginia
In Lancaster, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The tax rate is applied to this assessed value to determine the annual tax bill. For homeowners in Lancaster, the median tax bill is $948, significantly lower than the national median of $2400. Factors such as location, property size, and market conditions can influence the assessed value, impacting the final tax bill. Homeowners in Lancaster might find their tax bills range from $483 at the 25th percentile to $3362 at the 90th percentile, reflecting the diversity in property values and assessments within the area.
Ownwell assists homeowners by providing property tax appeal and exemption services, potentially reducing their tax liabilities. By analyzing property assessments and market data, Ownwell identifies opportunities for tax savings. This service can be particularly beneficial for homeowners who believe their property has been over-assessed, ensuring they only pay their fair share and potentially lowering their annual tax bills.
Median Lancaster Tax Bill
$948
Median Lancaster County Tax Bill
$1,042
Median Virginia Tax Bill
$2,608
Median United States Tax Bill
$2,400
Property Tax Bills Across Lancaster, Lancaster County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22503 | $182 | $483 | $948 | $2,222 | $3,362 |
Source: Ownwell
