Property Taxes in Lebanon, Virginia
Median Lebanon, Virginia effective property tax rate: 0.63%, significantly lower than the national median of 1.02%, and lower than the Virginia state median of 0.90%.
Median Lebanon, Virginia home value: $102,800
Median annual Lebanon, Virginia tax bill: $648, lower than the national median property tax bill of $2,400.
How are property taxes in Russell calculated?
Property taxes in Lebanon, Virginia 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 Lebanon's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lebanon, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
How Does the Lebanon Property Tax Calculator Work?
Use this Lebanon property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Lebanon's median effective tax rate of 0.63% — based on actual property records in Russell County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessment office uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Lebanon's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Lebanon: rates range from 0.63% in 24266 to 0.63% in 24266, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Lebanon.
About Lebanon Property Taxes
About Property Taxes in Lebanon, Russell, VA
Lebanon’s median effective property tax rate of 0.63% is lower than the Virginia state median of 0.90% and lower than the national median of 1.02%. This rate reflects the Russell County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Lebanon. Homeowners in ZIP code 24266 carry a median effective rate of 0.63%, while those in the same ZIP code pay 0.63%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Russell County. Understanding which part of Lebanon you live in can make a meaningful difference to your annual tax bill.
Lebanon homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the June 1, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Lebanon, Russell County, Virginia
As noted earlier, 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 Lebanon'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 Ă· 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 Lebanon Tax Rate
0.63%
Our median effective property tax rate (tax bill Ă· 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 Russell County Tax Rate
0.63%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.27%
Property Tax Rates Across Lebanon, Russell County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24266 | 0.63% | 0.63% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Lebanon, Russell County, Virginia
When examining property taxes in Lebanon, 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 Russell County assessment office 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 Russell County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of the month.
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 Lebanon.
For example, the median home price in Lebanon is $102,800, with tax bills ranging significantly across the county. ZIP code 24266 has the highest median home price at $102,800.
Property Tax Assessment Values Across Lebanon, Russell County, Virginia
Source: Ownwell
$20,600
$78,750
$136,900
Median Lebanon Market Value
$102,800
Median Russell County Market Value
$78,950
Median Virginia Market Value
$323,500
Median United States Market Value
$274,101
Property Tax Assessment Values Across Lebanon, Russell County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24266 | $40,640 | $65,400 | $102,800 | $145,000 | $203,780 |
Source: Ownwell
Property Tax Bills Across Lebanon, Russell County, Virginia
Property tax bills in Lebanon are calculated from the assessed value of a home and the local tax rate set by Russell County and other taxing authorities. The assessed value is based on the market value of the property, not what a homeowner originally paid for it. When the assessed value rises, the tax bill can increase as well, even if the homeowner’s income does not change.
For Lebanon homeowners, the median home price is $102,800, and the median property tax bill is $648, which is below the national median property tax bill of $2,400. That means many homeowners in the city pay less than the typical U.S. homeowner, though individual bills can still vary widely. The 25th percentile tax bill is $412, while the 75th percentile is $914, showing how differences in home value and local tax rates affect what owners owe.
Median Lebanon Tax Bill
$648
Median Russell County Tax Bill
$497
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$3,209
Property Tax Bills Across Lebanon, Russell County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 24266 | $256 | $412 | $648 | $914 | $1,284 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | February 14 |
Links | |
|---|---|
| Russell Tax Assessor | |
| Website | www.russellcountyva.us |