City Approves Increase In Real Estate Tax Rate, No Change In County
Scott P. Rogers
If you own real estate in the City of Harrisonburg, you'll be paying slightly more in real estate taxes due to a recently approved increase in the real estate tax rate. Previously, properties were taxed at a rate of $0.86 per $100 of assessed value. Now, the tax rate has increased to $0.90 per $100 of assessed value.
For a property assessed at $250,000 this means...
- Previous Tax Rate = $2,150 / year = $179 / month
- New Tax Rate = $2,250 / year = $188 / month
As a point of comparison, for the same value of property in the County...
- Previous/New Tax Rate = $1,850 / year = $154 / month
At least part of the reason for the increase in the real estate tax rate in the City is to fund the new high school.
