Forest, Lynchburg County, Virginia Property Taxes

Name: Property Tax Bills Across Forest, Lynchburg County, Virginia
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Forest, VA effective property tax rate: 0.89%, significantly lower than the national median of 1.02%, but equal to the Virginia state median of 0.89%.
Median Forest, VA home value: $206,700
Median annual Forest, VA tax bill: $1,840, $560 lower than the national median property tax bill of $2,400.

How are property taxes in Lynchburg calculated?

Property taxes in Forest, 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 Forest’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Forest, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Forest, Lynchburg County, Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.89%

Estimate Property Tax Bill

$1,840

$1,707

Ownwell’s Forest Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Forest with just two data points. By entering your property's estimated assessed value, our calculator applies Forest’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Lynchburg. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Forest, Lynchburg County, Virginia

Local government entities determine tax rates, which can differ significantly within a state. This variation arises because each county annually estimates its budget needs to provide essential services. The total budget is then divided by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Though votes and legislation play a role in setting these rates and budgets, this is the basic annual procedure.

You can compare Forest’s effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S. Forest, located in Lynchburg County, has a property tax rate of 0.89%, which is below the national median of 1.02%. This rate indicates that property owners in Forest may benefit from lower property taxes compared to the national average. By understanding these rates, property owners can better manage their financial planning and explore potential savings through property tax appeals or exemptions.

Property Tax Rates Across Forest, Lynchburg County, Virginia

Source: Ownwell

0.89%

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 Forest Tax Rate

0.89%

Median Effective Lynchburg County Tax Rate

0.89%

Median Effective Virginia Tax Rate

0.89%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Forest, Lynchburg County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
24551	0.89%	0.89%	0.89%	0.89%	0.89%

Source: Ownwell

Property Tax Assessment Values Across Forest, Lynchburg County, Virginia

When examining property taxes in Forest, 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 Lynchburg 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. Assessment notices: In Lynchburg 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 Forest. For example, the median home price in Forest is $206,700, with tax bills ranging significantly across the county. 24551 has the highest median home price at $206,700.

Property Tax Assessment Values Across Forest, Lynchburg County, Virginia

Source: Ownwell

$77,650

$175,525

$273,400

Median Forest Market Value

$206,700

Median Lynchburg County Market Value

$178,500

Median Virginia Market Value

$298,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Forest, Lynchburg County, Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
24551	$185,870	$195,050	$206,700	$239,175	$264,180

Source: Ownwell

Property Tax Bills Across Forest, Lynchburg County, Virginia

In Forest, located in Lynchburg County, VA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The median home price in this area is $206,700, and property tax bills can vary significantly. For example, the tax bill at the 25th percentile is $1,736, while at the 75th percentile, it rises to $2,129. The highest median tax bill recorded in the area is $1,840, which is relatively low compared to the national median property tax bill of $2,400. Factors such as changes in assessed value, local tax rates, and applicable exemptions can influence the final tax bill, impacting homeowners' financial planning. Ownwell assists homeowners in Forest by offering property tax appeal and exemption services, potentially reducing their tax burden. By analyzing property assessments and identifying discrepancies, Ownwell helps ensure homeowners are not overpaying, providing peace of mind and potential savings on their property tax bills.

Property Tax Bills Across Forest, Lynchburg County, Virginia

Source: Ownwell

$668

$1,549

$2,429

Median Forest Tax Bill

$1,840

Median Lynchburg County Tax Bill

$1,584

Median Virginia Tax Bill

$2,608

Median United States Tax Bill

$2,400

Property Tax Bills Across Forest, Lynchburg County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
24551	$1,654	$1,736	$1,840	$2,129	$2,351

Source: Ownwell