Taxes in Lake Ridge, Virginia
Complete tax guide for Lake Ridge, VA. State income tax up to 5.75%, 0.8% property tax, 7.84% sales tax. Calculate your total tax burden.
State Income Tax
5.75%
Virginia
Property Tax
0.8%
Effective rate
Sales Tax
7.84%
Combined rate
Tax Burden
Moderate
Lake Ridge, VA Tax Overview
Population
45,111
Median Income
$66,400
Cost of Living
101.3 (100 = avg)
State Income Tax
5.75%
Median Home Price
$362,000
Lake Ridge Tax Calculator
Pre-filled with Lake Ridge median: $66,400
Total Tax Burden in Lake Ridge
$15,120
Take-Home: $51,280 · Effective Rate: 22.77%
Federal Tax
$6,222
9.37% eff.
VA State
$3,818
5.75% eff.
FICA
$5,080
7.65% eff.
Take-Home
$51,280
77.23% kept
Tax Breakdown
| Item | Annual | Monthly |
|---|---|---|
| Gross Income | $66,400.00 | $5,533.33 |
| Federal Income Tax | -$6,222.00 | -$518.50 |
| Virginia State Tax | -$3,818.00 | -$318.17 |
| Social Security (6.2%) | -$4,116.80 | -$343.07 |
| Medicare (1.45%) | -$962.80 | -$80.23 |
| Take-Home Pay | $51,280.40 | $4,273.37 |
Property Tax in Lake Ridge
Median Home
$362,000
Annual Tax
$2,896
Monthly Tax
$241
Effective Rate
0.8%
Sales Tax in Lake Ridge
Combined Rate
7.84%
State Portion
~5.3%
Local Portion
~2.5%
The combined sales tax rate in Lake Ridge is 7.84%, which is above the national average of 7.12%. On a $100 purchase, you would pay $7.84 in sales tax.
Tax Burden Comparison
| Tax Type | Lake Ridge | Virginia Avg | National Avg |
|---|---|---|---|
| Income Tax | 5.75% | 5.75% | 4.6% |
| Property Tax | 0.8% | ~0.8% | 1.1% |
| Sales Tax | 7.84% | ~7.84% | 7.12% |
| Overall Burden | Moderate | — | Moderate |
Tax Saving Tips for Lake Ridge Residents
- Virginia's income tax rate of 5.75% is above average. Maximize pre-tax retirement contributions (401k up to $23,500, IRA up to $7,000) to reduce both federal and state taxable income.
- Property tax in Lake Ridge (0.8%) is below the national average of 1.1%. This makes homeownership more affordable here relative to property tax burden.
- Use a Health Savings Account (HSA) if eligible. Contributions are tax-deductible ($4,300 individual, $8,550 family), growth is tax-free, and withdrawals for medical expenses are tax-free.
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ModerateCalculate Your Full Virginia Tax Burden
See detailed state tax brackets, FICA breakdown, and compare to neighboring states.
Frequently Asked Questions
What are the tax rates in Lake Ridge, VA?
Lake Ridge, Virginia has a state income tax rate up to 5.75%. The property tax rate is 0.8% and the combined sales tax rate is 7.84%.
How much is property tax in Lake Ridge?
The effective property tax rate in Lake Ridge is 0.8%. On the median home price of $362,000, this equals approximately $2,896 per year or $241 per month. This is below the national average of 1.1%.
What is the sales tax rate in Lake Ridge?
The combined sales tax rate in Lake Ridge is 7.84%, which includes both state and local components. This is above the national average combined rate of approximately 7.12%.
How does Lake Ridge's tax burden compare to other cities?
Lake Ridge has a moderate overall tax burden. The effective total tax rate for a median-income household is approximately 27.7%. The combination of 5.75% state income tax, 0.8% property tax, and 7.84% sales tax determines the total burden. Cost of living index is 101.3 (100 = national average).
Are there any local taxes in Lake Ridge?
Lake Ridge does not impose a separate local or city income tax. Residents pay the state income tax of 5.75%, federal income tax, and FICA (Social Security and Medicare).