Broadway, Rockingham County, Virginia Property Taxes
Median Broadway, VA effective property tax rate: 0.68%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Broadway, VA home value: $208,400
Median annual Broadway, VA tax bill: $1,375, $1,025 lower than the national median property tax bill of $2,400.
How are property taxes in Rockingham calculated?
Property taxes in Broadway, 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 Broadway’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Broadway, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Broadway, Rockingham County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.68%
Estimate Property Tax Bill
$1,397
$1,297
Property Tax Rates Across Broadway, Rockingham County, Virginia
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 Broadway Tax Rate
0.68%
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 Rockingham County Tax Rate
0.68%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Broadway, Rockingham County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22815 | 0.68% | 0.68% | 0.68% | 0.68% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Broadway, Rockingham County, Virginia
When examining property taxes in Broadway, 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 Rockingham 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 Rockingham 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 Broadway.
For example, the median home price in Broadway is $208,400, with tax bills ranging significantly across the county. Zip code 22815 has the highest median home price at $208,400.
Property Tax Assessment Values Across Broadway, Rockingham County, Virginia
Source: Ownwell
$116,500
$2,015,250
$3,914,000
Median Broadway Market Value
$205,500
Median Rockingham County Market Value
$236,200
Median Virginia Market Value
$323,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Broadway, Rockingham County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22815 | $102,260 | $148,100 | $205,500 | $277,250 | $367,280 |
Source: Ownwell
Property Tax Bills Across Broadway, Rockingham County, Virginia
In Broadway, property tax bills are determined by the assessed value of a home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the tax bill. Homeowners in Broadway can expect a median property tax bill of $1,375, which is below the national median of $2,400. Factors such as home size, location, and market conditions influence the assessed value, impacting the final tax bill. For homeowners, this means that changes in property values or local tax rates can significantly affect their annual expenses.
Ownwell offers valuable assistance to homeowners by providing property tax appeal and exemption services. By analyzing property assessments and identifying potential discrepancies, Ownwell can help homeowners reduce their tax burdens. This personalized approach ensures that homeowners are not overpaying and can potentially save a substantial amount on their property taxes. With Ownwell's expertise, homeowners in Broadway can navigate the complexities of property tax assessments and secure financial savings.
Median Broadway Tax Bill
$1,384
Median Rockingham County Tax Bill
$1,605
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Broadway, Rockingham County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 22815 | $635 | $996 | $1,384 | $1,880 | $2,493 |
Source: Ownwell