24503 Property Tax Rate
Lynchburg, Virginia · Part of Bedford County
Effective Tax Rate
0.71%
1.2% above state avgMedian Annual Tax
$2,270
$189/mo escrow
Estimate Your Tax
Annual Tax
$2,270
Monthly
$189
Eff. Rate
0.71%
Buyer decision brief
What ZIP 24503 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
$189/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 $196, about 9% of the median tax estimate.
Verify before you offer
- Confirm parcel assessed value with Bedford County 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 24503 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
$196 tax MOE, 9% 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
Bedford County is used for assessor verification and broader context.
Tax bill anatomy
What can change your actual bill in ZIP 24503
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 $320,500, 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 $189 per month before insurance, HOA dues, or special assessments.
Assessor verification
Bedford County assessor or tax collector records are the source of truth for parcel taxes, appeal windows, and exemptions.
How ZIP 24503 Compares
Median Annual Property Tax
ZIP 24503
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 24503
Property owners in ZIP code 24503 (Lynchburg, Virginia) pay a median of $2,270/year in property taxes on homes valued at $320,500. 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 24503 is approximately $189, which factors into escrow payments on mortgages. This ZIP code is located within Bedford County.
Compared to similar ZIP codes in Virginia, 24503 has lower property taxes. ZIP codes with similar effective rates include 22406 (0.71%) and 22469 (0.71%).
In Lynchburg, property taxes represent approximately 2.5% of the median household income of $92,025, providing context for the relative tax burden on homeowners in this area.
Bedford County's 0.64% local rate is your only property tax in Virginia, which has no state tax or reassessment cap at purchase. Agricultural property owners should file for Land Use Taxation with the Bedford County Assessor to reduce your assessment to use value instead of market value. Disabled and elderly (65+) homeowners should contact the Bedford County Assessor to apply for circuit breaker relief, which can significantly lower your annual property tax if your income qualifies.
Frequently Asked Questions
What is the property tax rate in ZIP code 24503?
How much are property taxes in Lynchburg, VA (24503)?
How does ZIP 24503 compare to the Virginia average?
What is the median home value in ZIP 24503?
What county is ZIP code 24503 in?
Margin of Error
The median property tax estimate for this ZIP code has a margin of error of ±$196. ZCTA-level data has wider margins than county-level estimates due to smaller sample sizes.
County-Level Data
ZIP code 24503 is part of Bedford County, Virginia. View the full county profile for broader context and more data.
View Bedford County 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 24503
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
24502
Lynchburg, VA
0.00 percentage points lower than ZIP 24503.
Rate
0.71%
Tax
$1,512
Quality
86
24504
Lynchburg, VA
0.19 percentage points lower than ZIP 24503.
Rate
0.51%
Tax
$943
Quality
89
24526
Big Island, VA
0.32 percentage points lower than ZIP 24503.
Rate
0.39%
Tax
$779
Quality
84
24536
Coleman Falls, VA
0.29 percentage points lower than ZIP 24503.
Rate
0.42%
Tax
$1,250
Quality
74
24556
Goode, VA
0.29 percentage points lower than ZIP 24503.
Rate
0.42%
Tax
$1,542
Quality
84
24551
Forest, VA
0.28 percentage points lower than ZIP 24503.
Rate
0.43%
Tax
$1,483
Quality
89
24174
Thaxton, VA
0.28 percentage points lower than ZIP 24503.
Rate
0.43%
Tax
$801
Quality
84
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.