24502 Property Tax Rate
Lynchburg, Virginia · Part of Lynchburg city
Effective Tax Rate
0.71%
32.6% below state avgMedian Annual Tax
$1,512
$126/mo escrow
Estimate Your Tax
Annual Tax
$1,512
Monthly
$126
Eff. Rate
0.71%
Buyer decision brief
What ZIP 24502 means for your housing budget
Use this ZIP page to compare recurring tax burden before you compare listing prices. The numbers below are Census ZCTA estimates, so they are strongest for neighborhood comparison and weakest for parcel-specific tax planning.
Monthly escrow signal
$126/mo
Based on median annual tax paid
State context
0.03 percentage points above the Virginia average
Virginia average: 0.67%
Data confidence
High confidenceThe Census margin of error is $75, about 5% of the median tax estimate.
Verify before you offer
- Confirm parcel assessed value with Lynchburg city assessor.
- Check homestead, senior, veteran, and disability exemptions.
- Ask whether purchase triggers reassessment or value-cap reset.
- Review school district and special assessment boundaries.
Lower-rate similar ZIPs
This is informational content, not tax, legal, or mortgage advice. Local assessor records remain the source of truth for a specific property.
Data confidence ledger
Can you trust ZIP 24502 for comparison?
ACS vintage
2019-2023 ACS 5-Year Estimates
Five-year Census ZCTA estimates.
ZCTA caveat
Census area, not parcel boundary
USPS ZIP routes and taxing districts can differ inside the same area.
Field completeness
3/3 required fields
Median tax, home value, and derived rate are present.
MOE status
Strong ACS confidence
$75 tax MOE, 5% of the median tax estimate.
Last site refresh
March 10, 2026
Dataset and page-quality audit run locally before publication.
County fallback
County advisory available
Lynchburg city is used for assessor verification and broader context.
Tax bill anatomy
What can change your actual bill in ZIP 24502
Use the ZIP estimate to compare neighborhoods, then verify these parcel-level inputs before relying on a payment estimate.
Assessed value
The ZCTA median home value is $214,300, but your bill starts with the local assessed value for a specific parcel.
Effective rate
The displayed rate is 0.71%, derived from median tax paid divided by median home value.
Exemptions
Homestead, senior, veteran, disability, and local exemptions can reduce taxable value. Confirm eligibility before estimating escrow.
Reassessment
A purchase can change assessed value depending on Virginia and county rules. Ask how sale price affects the next assessment cycle.
Escrow impact
The median tax paid in this ZCTA equals about $126 per month before insurance, HOA dues, or special assessments.
Assessor verification
Lynchburg city assessor or tax collector records are the source of truth for parcel taxes, appeal windows, and exemptions.
How ZIP 24502 Compares
Median Annual Property Tax
ZIP 24502
0.71%
Effective rate
Virginia Avg
0.67%
Effective rate
National Avg
1.10%
Effective rate
State Ranking
Property Tax Rank in Virginia
Higher than 64% of ZIP codes in Virginia(64th percentile, 779 ZIPs compared)
Property Tax Analysis
Property Tax Insights for ZIP 24502
Property owners in ZIP code 24502 (Lynchburg, Virginia) pay a median of $1,512/year in property taxes on homes valued at $214,300. This translates to an effective tax rate of 0.71%, which is 5% above the Virginia state average of 0.67%.
The monthly property tax burden for a median-valued home in 24502 is approximately $126, which factors into escrow payments on mortgages. This ZIP code is located within Lynchburg city. This is $731 less than the Virginia average of $2,243/year.
Compared to similar ZIP codes in Virginia, 24502 has higher property taxes. ZIP codes with similar effective rates include 23310 (0.70%) and 22406 (0.71%).
In Lynchburg, property taxes represent approximately 2.3% of the median household income of $66,027, providing context for the relative tax burden on homeowners in this area.
Virginia has no state property tax — Lynchburg city assesses and collects all property taxes locally, with no automatic reassessment at sale unless the assessor initiates a revaluation cycle. The Land Use Taxation program provides significant relief for agricultural land, and the Circuit Breaker program offers tax credits for elderly and disabled residents meeting income limits. Contact the Lynchburg City Assessor's office immediately after purchase to confirm your property's assessment and inquire about Circuit Breaker eligibility if you qualify by age (65+), disability status, or low income.
Frequently Asked Questions
What is the property tax rate in ZIP code 24502?
How much are property taxes in Lynchburg, VA (24502)?
How does ZIP 24502 compare to the Virginia average?
What is the median home value in ZIP 24502?
What county is ZIP code 24502 in?
Margin of Error
The median property tax estimate for this ZIP code has a margin of error of ±$75. ZCTA-level data has wider margins than county-level estimates due to smaller sample sizes.
County-Level Data
ZIP code 24502 is part of Lynchburg city, Virginia. View the full county profile for broader context and more data.
View Lynchburg city on TaxByCounty →Explore Lynchburg, VA
View all 4 ZIP codes in Lynchburg with property tax comparisons.
View Lynchburg Property Tax Rates →Why compare these ZIPs?
Better comparison set for ZIP 24502
Each ZIP highlights a homebuyer tradeoff: lower rate, stronger value context, shared county rules, city boundary changes, or nearby missing data.
24501
Lynchburg, VA
Same city name, different county context: Campbell County.
Rate
0.72%
Tax
$1,126
Quality
89
24503
Lynchburg, VA
$106,200 higher median home value than ZIP 24502.
Rate
0.71%
Tax
$2,270
Quality
89
24504
Lynchburg, VA
0.19 percentage points lower than ZIP 24502.
Rate
0.51%
Tax
$943
Quality
89
22101
Mc Lean, VA
$1,068,500 higher median home value than ZIP 24502.
Rate
0.78%
Tax
$10,001
Quality
77
22066
Great Falls, VA
$1,025,800 higher median home value than ZIP 24502.
Rate
0.81%
Tax
$10,001
Quality
70
20129
Paeonian Springs, VA
$991,500 higher median home value than ZIP 24502.
Rate
0.76%
Tax
$9,215
Quality
84
22207
Arlington, VA
$987,500 higher median home value than ZIP 24502.
Rate
0.83%
Tax
$10,001
Quality
82
20198
The Plains, VA
$917,000 higher median home value than ZIP 24502.
Rate
0.77%
Tax
$8,692
Quality
73
Data from U.S. Census Bureau, American Community Survey 2019-2023 5-Year Estimates (ZCTA level). ZIP Code Tabulation Areas (ZCTAs) are Census approximations of USPS ZIP codes.
Estimates are informational only and should not be used as financial or legal advice.