Property Tax Rates in Harrisonburg, VA

If you own property, the chances are that you will already have an idea about property tax.  If you are a new home owner you will soon be finding out all about the property tax on your home or other real estate.  The property tax rates in Harrisonburg, VA are about average compared to the rest of the nation.

Property tax is a levy imposed by the government or the governing authority of the jurisdiction of where the real estate is located. Property tax may be levied and payable to the national government, a municipality or even a federated state of the region that the property is located in. In some cases multiple jurisdictions may tax just one property or piece of real estate.

If you are thinking of relocating, like to Harrisonburg, Virginia, for example, you would need to have your real estate agent provide you with a list of extra costs involved, including the property tax that would be liable by you, over and above the purchase price.

Property tax is calculated differently in various areas, regions and neighborhoods. Some areas have a very high property tax rate, which could effectively make it unaffordable for prospective buyers in the area. High property tax rates could make prospective clients have to buy their properties in other areas that have a lower property tax rate.

The standard property tax system requires there to be an assessment of the actual financial value of the property in question.  After performing such an evaluation, a taxable amount based on a sliding scale of percentage, is allocated to the already valued property. Government sectors have a specific process in which to calculate this percentage, however, certain criteria may vary greatly from region to region.

The tax on property in Virginia is pretty much comparative to the rest of the US. In fact areas like Harrisonburg and Staunton fall just about in the middle of the current US tax rate scale.

Many homes that are for sale in Harrisonburg have a lower property tax rate percentage than any of the other areas in the Virginia region. With the local tax rates being so much lower than many other places in the US, property for sale in the area is that much more affordable and in reach for prospective buyers, and for people who are considering making the move to Harrisonburg, this rate is a huge bonus.

The property tax rates are reassessed and subject to change every year, and an increase will take place on December the 5th each year.  Property taxes are calculated on a financial year end basis and property and real estate owners receive a bill for the taxable amount twice during the year.

Previously, Harrisonburg real estate and property owners have been required to pay 59 cents per $100 of pre-assessed value on their homes and properties, with country residents having to pay 60 cents per $100 of pre-assessed value.  However, as is often the case, the rates have gone up in Rockingham county and will be going up in the city of Harrisonburg too.  The new rate for Rockingham County is 64 cents per $100 in assessed value.  Effective July 1, the rate for those of you living in the City Limits of Harrisonburg will be 63 cents per $100 in assessed value.  The meals and lodging tax will also increase to 6.5% in the city, but the county is staying the same at 4%.

Although none of us like to pay lots and lots of taxes, we’re still in pretty good shape as compared to many places in the country!