Example of Harrisonburg City Property Tax Calculation
Harrisonburg City calculates property taxes based on the assessed value of the property. The assessed value is determined by the Harrisonburg City Assessor's Office and is equal to a percentage of the property's fair market value. This percentage varies depending on the type of property, but for residential properties, it is currently set at 100%.
To calculate the property taxes owed, the assessed value is multiplied by the current tax rate, which for the 2021 fiscal year is $0.85 per $100 of assessed value. For example, if a residential property has an assessed value of $150,000, the property owner would owe $1,275 in property taxes for the year (150,000 divided by 100, multiplied by the tax rate of $0.85).
It is important to note that property taxes in Harrisonburg City are due on December 5th of each year. Failure to pay property taxes on time can result in penalties and interest charges.
If you want appeal your property tax assessment - contact your local tax assessor.
Harrisonburg City Property Tax Rates
The following table lists the property tax rates for Harrisonburg City in US dollars per $100 of assessed property value:
| Tax Type | Rate per $100 of Assessed Value |
|---|---|
| Real Estate Tax | $0.87 |
| Personal Property Tax | $4.45 |
| Machinery and Tools Tax | $1.60 |
| Business Tangible Personal Property Tax | $4.45 |
It is important to note that property tax rates are subject to change and residents should check with the local tax assessor's office for the most current information.
Who sets property tax rates in Harrisonburg City ?
In Harrisonburg City, property tax rates are set by the City Council annually. The tax rate is typically established during the budget approval process, which takes place in the spring. The City Council considers various factors when determining the property tax rate, such as the level of services provided by the city, the need for infrastructure improvements, and the cost of employee salaries and benefits. Property owners in Harrisonburg City can view their property tax rate and assessment information online through the city's Geographic Information System (GIS) mapping tool.
Homestead exemptions in Harrisonburg City ?
To help Harrisonburg City residents navigate Homestead exemptions and deductions, here is a table detailing all the county-specific information:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Elderly and Disabled Exemption | Age 65 or older or totally and permanently disabled | $20,000 | Must apply annually by July 1st |
| Veteran's Exemption | Service in armed forces during war or armed conflict | $10,000 | Must provide documentation of service |
| Surviving Spouse of Armed Forces Member Exemption | Spouse of service member killed in action | $10,000 | Must provide documentation of service and death |
| Disabled Veterans Exemption | Suffered a 100% service-connected disability | 100% of assessed value | Must provide documentation of service and disability |
| Land Use Assessment | Agricultural, horticultural, or forestal use of land | Varies | Must meet specific requirements and apply for assessment |
| Blind or Disabled Exemption | Blind or disabled | $7,500 | Must provide documentation of disability |
| Education Exemption | Homeschooling or parochial/private school attendance | Varies | Must provide documentation of education |
| Firefighters and Rescue Squad Members Exemption | Active member of a volunteer firefighting or rescue squad | $1,000 | Must provide documentation of service |
Keep in mind that some of these exemptions may require annual reapplication or have specific documentation requirements. Make sure to do your research and submit all necessary paperwork before the deadline to ensure you receive your eligible exemptions and deductions.
When is Harrisonburg City Property Tax due ?
Harrisonburg City Property Tax is typically due on December 5th of each year. Here are some important details about payment methods:
Payment Methods:
| Method | Details |
|---|---|
| Mail-in | Payments can be mailed to the address listed on the tax bill. Make sure to include the bill and write the account number on the check. |
| In-person | Payments can be made in person at the Treasurer's office located in City Hall. The office is open Monday through Friday from 8:00 AM to 5:00 PM. Credit card payments are also accepted in person. |
| Online | Payments can be made online through the City of Harrisonburg's website using a credit card or e-check. There is a fee for using this service. |
It's important to note that failure to pay property taxes on time can result in penalties and interest charges. Therefore, it's recommended to pay on or before the due date to avoid any additional fees.
If you have more questions - contact your local tax collector.
How is Harrisonburg City Property Tax penalty calculated ?
Harrisonburg City Property Tax Penalty Calculation
When the property taxes are not paid on time, penalties and interest are added to the outstanding amount. The penalty is calculated based on a percentage of the unpaid balance and the number of days it remains unpaid.
Here is an example to help understand the calculation:
Let's assume John owns a property in Harrisonburg City and his property taxes for the year 2020 were due on December 31, 2020. However, he failed to pay the taxes on time and the outstanding balance is $2000.
The penalty for late payment is calculated as follows:
| Penalty Calculation | |
|---|---|
| Outstanding Balance | $2000 |
| Penalty Rate | 10% |
| Penalty Days | 180 (from January 1 to June 29) |
| Penalty Amount | ($2000 x 10% x 180/365) = $98.63 |
Therefore, John would have to pay $2098.63 ($2000 + $98.63) in total to clear his outstanding property taxes.
It is important to note that the penalty and interest rates may vary depending on the jurisdiction and the length of time the taxes remain unpaid. It is always advisable to pay property taxes on time to avoid any additional fees.
We recommend contacting the Harrisonburg City Tax Office or a local tax professional for the most up-to-date and accurate information.