Petersburg, Prince George County, Virginia Property Taxes

Name: Property Tax Bills Across Petersburg, Prince George County, Virginia
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

Median Petersburg, VA effective property tax rate: 0.74%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median Petersburg, VA home value: $181,950
Median annual Petersburg, VA tax bill: $1,347, $1,053 lower than the national median property tax bill of $2,400.

How are property taxes in Prince George 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, Prince George County, Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.74%

Estimate Property Tax Bill

$1,346

$1,249

Ownwell’s Petersburg Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Petersburg with just two data points. By entering your property's estimated assessed value, our calculator applies Petersburg’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 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 George. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Petersburg, Prince George County, Virginia

Local government entities determine tax rates, which can differ significantly within a state. Each year, counties calculate their required budget for services and divide this by the total value of all taxable property within their area, resulting in the property tax rate. Although setting tax rates and budgets involves votes and regulations, this is essentially the annual procedure.

For instance, Petersburg in Prince George County, Virginia, has an effective property tax rate that aligns with the highest and lowest rates within the region, both recorded at 0.74%. This consistency is notable, especially when compared to the national median property tax rate of 1.02%. Despite the lower rate in Petersburg, the national median property tax bill stands at $2400, highlighting the potential savings for property owners in this area.

Comparing Petersburg's property tax rate with other cities in Virginia and the national median provides valuable insights into regional tax dynamics, helping property owners make informed financial decisions.

Property Tax Rates Across Petersburg, Prince George County, Virginia

Source: Ownwell

0.74%

0.76%

0.78%

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

0.74%

Median Effective Prince George County Tax Rate

0.76%

Median Effective Virginia Tax Rate

0.89%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Petersburg, Prince George County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
23805	0.36%	0.71%	0.74%	0.82%	0.82%
23803	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Assessment Values Across Petersburg, Prince George County, Virginia

When examining property taxes in Petersburg, Virginia, 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 George 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.

In Prince George 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 $181,950, with tax bills ranging significantly across the county. Zip code 23805 has the highest median home price at $188,700.

Property Tax Assessment Values Across Petersburg, Prince George County, Virginia

Source: Ownwell

$74,050

$201,050

$328,050

Median Petersburg Market Value

$181,950

Median Prince George County Market Value

$279,600

Median Virginia Market Value

$298,700

Median United States Market Value

$235,294

Property Tax Assessment Values Across Petersburg, Prince George County, Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
23805	$40,000	$92,200	$188,700	$242,000	$410,360
23803	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Petersburg, Prince George County, Virginia

In Petersburg, located in Prince George County, VA, property tax bills are calculated based on the assessed value of a home. This assessed value is determined by the local tax assessor and reflects the market value of the property. Homeowners in Petersburg face a range of tax bills, with the 25th percentile at $458 and the 90th percentile reaching $2,486, compared to the national median property tax bill of $2,400. These figures highlight the variability in tax bills across different properties within the city. Factors influencing the tax bill include the property's location, size, and any improvements made to it. The median home price in Petersburg is $181,950, and with a property tax rate that can fluctuate, homeowners may find themselves paying more than necessary. This is where Ownwell comes in. By offering property tax appeal and exemption services, Ownwell helps homeowners potentially reduce their tax burden, ensuring they only pay what is fair and accurate, saving them money in the process.

Property Tax Bills Across Petersburg, Prince George County, Virginia

Source: Ownwell

$500

$1,466

$2,432

Median Petersburg Tax Bill

$1,347

Median Prince George County Tax Bill

$2,102

Median Virginia Tax Bill

$2,608

Median United States Tax Bill

$2,400

Property Tax Bills Across Petersburg, Prince George County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
23805	$218	$439	$1,394	$1,699	$2,598
23803	N/A	N/A	N/A	N/A	N/A

Source: Ownwell