Lexington city, Virginia Property Taxes
Census Bureau ACS property tax data for Virginia. Population: 1,065.
The median annual property tax in Lexington city is $2,378, which is 21% higher than the Virginia state average and 24% above the national average. The effective tax rate is 0.86% on a median home value of $275,300. Property taxes represent 2.7% of the median household income in this county.
Median Annual Tax
$2,378
+21% vs State
+24% vs US
Median Home Value
$275,300
-1% vs State
+30% vs US
Effective Tax Rate
0.86%
+28% vs State
-9% vs US
With vs Without Mortgage
With Mortgage
$2,663
$222/mo
Without Mortgage
$1,800
$150/mo
Homeowners with a mortgage typically own higher-valued properties, which can result in higher tax bills.
Property Tax History
| Year | Median Tax | Effective Rate |
|---|---|---|
| 2023 | $2,378 +11.6% | 0.86% |
| 2022 | $2,131 -9.7% | 0.95% |
| 2021 | $2,360 +11.9% | 0.94% |
| 2020 | $2,109 -2.0% | 0.90% |
| 2019 | $2,152 | 0.91% |
Tax Burden
Tax-to-Income Ratio
2.7%
of median household income
Median Income
$89,598
per year
Monthly Tax
$198
per month
Other Counties in Virginia
Highland County
Tax: $1,104/yr Rate: 0.56%
Greensville County
Tax: $936/yr Rate: 0.59%
Lunenburg County
Tax: $635/yr Rate: 0.44%
Smyth County
Tax: $766/yr Rate: 0.61%
Surry County
Tax: $1,474/yr Rate: 0.63%
Prince William County
Tax: $4,910/yr Rate: 0.98%
Frequently Asked Questions
What is the average property tax in Lexington city, Virginia? ▼
The median annual property tax in Lexington city is $2,378 based on the most recent Census Bureau American Community Survey data. The effective tax rate is 0.86% on a median home value of $275,300.
How does Lexington city property tax compare to the national average? ▼
Property taxes in Lexington city are 24% above the national average of $1,923. The effective rate of 0.86% compares to 0.95% nationally.
Does having a mortgage affect property taxes in Lexington city? ▼
In Lexington city, homeowners with a mortgage pay a median of $2,663 in annual property taxes, while homeowners without a mortgage pay $1,800. This difference often reflects the value of homes rather than different tax rates.
What percentage of income goes to property taxes in Lexington city? ▼
Property taxes in Lexington city represent approximately 2.7% of the median household income of $89,598. The national benchmark is generally 2-4% of household income.
Explore More Data
Data source: U.S. Census Bureau, American Community Survey 5-Year Estimates. Property tax data reflects median amounts paid by homeowners. Effective rates are calculated as median tax divided by median home value.