Frequently Asked Questions About Real Estate Property Tax In Lynchburg Va

FAQ About Property Tax

  1. What is the assessed value of the Lynchburg Va property?  Note that the assessed value is generally less than market value.  Ask to see a recent copy of the tax bill to help you determine this information.
  2. How often are properties re-assessed and when was the last re-assessment done?  Generally, taxes jump most significantly when a property is re-assessed.  Every municipal has a different time frame and schedule for re-assessment.
  3. Will the sale of a Lynchburg property trigger a tax increase?  Often the assessed value of the property may increase based on the amount you pay for the property. 
  4. Is the amount of taxes paid comparable to other properties in the area?  If not, it may be possible to appeal the tax assessment and lower the rate.
  5. Does the current bill reflect any special exemptions that you may not qualify for?  For example, many tax districts offer deductions for those 65 or over.