Petersburg, Petersburg County, Virginia Property Taxes
Median Petersburg, VA effective property tax rate: 1.27%, significantly higher than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Petersburg, VA home value: $103,600
Median annual Petersburg, VA tax bill: $1,318, $1,082 lower than the national median property tax bill of $2,400.
How are property taxes in Petersburg calculated?
Property taxes in Petersburg, VA are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Petersburg’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Petersburg, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Petersburg, Petersburg County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.27%
Estimate Property Tax Bill
$1,316
$1,221
Property Tax Rates Across Petersburg, Petersburg County, Virginia
Local government entities set tax rates, which can vary widely within a state. This is because each county annually estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While votes and laws are involved in setting tax rates and budgets, this is the annual process in a nutshell.
In Petersburg, the effective property tax rate stands at 1.27%, which is above the national median of 1.02%. This rate is consistent across the city, with the highest and lowest median tax rates both recorded at 1.27% in the 23803 ZIP code. Compared to the national median property tax bill of $2400, property owners in Petersburg may find themselves paying more due to the higher rate. Understanding these rates and how they compare to state and national averages can help property owners make informed decisions and potentially seek tax appeal or exemption services to alleviate their tax burden.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Petersburg Tax Rate
1.27%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Petersburg County Tax Rate
1.27%
Median Effective Virginia Tax Rate
0.89%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Petersburg, Petersburg County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23803 | 1.27% | 1.27% | 1.27% | 1.27% | 1.27% |
| 23805 | 1.27% | 1.27% | 1.27% | 1.27% | 1.27% |
Source: Ownwell
Property Tax Assessment Values Across Petersburg, Petersburg County, Virginia
When examining property taxes in Petersburg, VA, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Petersburg County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices: In Petersburg County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of April. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Petersburg. For example, the median home price in Petersburg is $103,600, with tax bills ranging significantly across the county. Zip code 23805 has the highest median home price at $134,000.
Property Tax Assessment Values Across Petersburg, Petersburg County, Virginia
Source: Ownwell
$72,700
$181,450
$290,200
Median Petersburg Market Value
$103,600
Median Petersburg County Market Value
$103,800
Median Virginia Market Value
$298,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Petersburg, Petersburg County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23803 | $36,100 | $51,300 | $72,700 | $106,600 | $147,300 |
| 23805 | $97,400 | $114,000 | $134,000 | $172,775 | $211,900 |
Source: Ownwell
Property Tax Bills Across Petersburg, Petersburg County, Virginia
Median Petersburg Tax Bill
$1,318
Median Petersburg County Tax Bill
$1,321
Median Virginia Tax Bill
$2,608
Median United States Tax Bill
$2,400
Property Tax Bills Across Petersburg, Petersburg County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23803 | $460 | $653 | $926 | $1,358 | $1,875 |
| 23805 | $1,237 | $1,449 | $1,702 | $2,196 | $2,691 |
Source: Ownwell