Prince Edward County, Virginia Property Taxes
Median Prince Edward County effective property tax rate: 0.48%, significantly lower than the national median of 1.02%. Median Prince Edward County home value: $129,500. Median annual Prince Edward County tax bill: $622, which is $1,778 lower than the national median property tax bill of $2,400.
How are property taxes in Prince Edward County calculated?
Property taxes in Prince Edward County 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 your county's property tax system, exemptions, and reduction opportunities can lead to significant savings. Whether you live in Farmville or another part of Prince Edward County, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Prince Edward County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.48%
Estimate Property Tax Bill
$622
$577
Ownwell’s Prince Edward County Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Prince Edward County with just two data points.
By entering your property's estimated assessed value, our calculator applies Prince Edward County’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a more precise calculation for your property tax obligations.
This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Prince Edward County.
For those interested in more localized information, please scroll down to explore city-level trends!
Property Tax Rates Across Prince Edward County, Virginia
Local government entities are responsible for setting tax rates, which can differ significantly across a state. Each year, counties estimate their budget needs to provide essential services and divide this by the total assessed value of all taxable properties in their area. This process determines the property tax rate. Although votes and legislation play a role in establishing tax rates and budgets, this is essentially how it works annually.
Prince Edward County's effective property tax rate offers an interesting comparison to other counties in Virginia and the national median. The county's rate is notably lower than the national median property tax rate of 1.02%. This lower rate can be an attractive factor for property owners, providing potential savings on property taxes compared to other areas. For residents and potential property buyers, understanding these differences can be crucial when considering the overall cost of owning property. Evaluating Prince Edward County’s property tax rate in relation to state and national figures provides valuable insight into the financial landscape of property ownership in the region.
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 Prince Edward County Tax Rate
0.48%
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 Virginia Tax Rate
0.89%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Prince Edward County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Burkeville | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% |
| Charlotte Court House | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% |
| Cullen | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% |
| Farmville | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% |
| Green Bay | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% |
| Keysville | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% |
| Meherrin | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% |
| Pamplin | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% |
| Prospect | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% |
| Rice | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% |
| Hampden Sydney | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Prince Edward County, Virginia
When examining property taxes in Prince Edward County, 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 Prince Edward 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 Prince Edward County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. 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 Prince Edward County.
For example, the median tax bill in Prince Edward County is $750, with tax bills ranging significantly across the county. Farmville has the highest median home price at $156,200.
Property Tax Assessment Values Across Prince Edward County, Virginia
Source: Ownwell
$102,300
$129,250
$156,200
Median Prince Edward County Market Value
$129,500
Median Virginia Market Value
$298,700
Median United States Market Value
$235,294
Property Tax Assessment Values Across Prince Edward County, Virginia
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Burkeville | $27,620 | $59,550 | $102,300 | $153,850 | $202,320 |
| Charlotte Court House | $36,560 | $79,800 | $112,400 | $176,900 | $219,500 |
| Cullen | $29,960 | $85,400 | $117,600 | $163,600 | $239,340 |
| Farmville | $61,740 | $94,200 | $156,200 | $219,600 | $282,320 |
| Green Bay | $22,700 | $53,600 | $109,700 | $155,400 | $218,660 |
| Keysville | $27,730 | $65,150 | $110,100 | $163,150 | $214,730 |
| Meherrin | $21,000 | $53,700 | $104,600 | $149,050 | $198,880 |
| Pamplin | $31,300 | $73,650 | $110,000 | $153,100 | $202,600 |
| Prospect | $29,480 | $74,700 | $114,800 | $166,650 | $220,040 |
| Rice | $41,200 | $83,225 | $126,350 | $186,075 | $252,250 |
| Hampden Sydney | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Prince Edward County, Virginia
Median Prince Edward County Tax Bill
$622
Median Virginia Tax Bill
$2,608
Median United States Tax Bill
$2,400
Property Tax Bills Across Prince Edward County, Virginia
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Burkeville | $133 | $286 | $491 | $738 | $971 |
| Charlotte Court House | $175 | $383 | $540 | $849 | $1,054 |
| Cullen | $144 | $410 | $564 | $785 | $1,149 |
| Farmville | $297 | $453 | $750 | $1,054 | $1,355 |
| Green Bay | $109 | $257 | $527 | $746 | $1,050 |
| Keysville | $133 | $313 | $528 | $783 | $1,031 |
| Meherrin | $101 | $258 | $502 | $715 | $955 |
| Pamplin | $150 | $354 | $528 | $735 | $972 |
| Prospect | $142 | $359 | $551 | $800 | $1,056 |
| Rice | $198 | $399 | $606 | $893 | $1,211 |
| Hampden Sydney | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell