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Updated 2025 Tax Year

Craig County
Property Tax Guide

Everything you need to know about property taxes in Craig County, VA. Rates, due dates, exemptions, and how it affects your monthly payment.

10 Official Sources
8 min read
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Quick Facts
Tax Rate
$0.57 per $100 assessed value (base rate, varies by district with additional assessments)
1st Due
Dec 5
Exemptions
4+ Available
Section 1

How Property Tax Works

Craig County, Virginia operates on a property tax system that serves as the primary funding source for essential local services including public schools, law enforcement, fire protection, road maintenance, and county administration. The county assesses both real property (land and buildings) and personal property (vehicles, boats, business equipment) annually to determine tax liability.

Property tax rates in Craig County can vary by location within the county due to special taxing districts and additional assessments. The county follows Virginia's assessment practices with properties typically reassessed periodically to reflect current market values. Property owners should be aware that their exact tax rate may differ from the base county rate depending on their specific location and any applicable special district assessments.

Craig County offers various tax credits and exemptions to qualifying property owners, though most require annual application and are not automatically applied. The county's tax system operates on a fiscal year basis, with bills typically mailed twice yearly and payments due on specific dates to avoid penalties and interest charges.

Section 2

What Makes Up Your Tax Bill

ComponentRateDescription
Personal Property Tax$3.50 per $100Base rate for vehicles, boats, and business personal property (FY 2025-2026)
Real Property TaxContact AssessorRate varies by location and special districts
Special District AssessmentsVariesAdditional charges may apply based on property location

Note: Tax rates shown are for the 2025-2026 fiscal year. Real property tax rates and special district assessments vary throughout Craig County depending on your specific location. Contact the Craig County Commissioner of Revenue at (540) 864-6141 for your exact rate based on your property's location and applicable special taxing districts.

Section 3

When Are Property Taxes Due?

For the 2025/2026 tax year in Craig County, property taxes are due in two installments:

First Installment
Dec 5
Delinquent after Dec 10
Pro tip: If you pay through mortgage escrow, your lender splits these payments across your monthly mortgage. If you pay directly, set calendar reminders to avoid late penalties.
Section 4

Supplemental Tax Bills

Supplemental tax bills may be issued when there are changes in property ownership, new construction, or improvements made to existing property during the tax year. According to Craig County policy, the county treasurer is authorized to issue supplemental personal property tax bills for 100 percent of the additional tax due when these qualifying events occur.

Supplemental taxes are calculated based on the assessed value of the new property or improvements, prorated for the portion of the tax year remaining after the change occurred. For example, if you purchase a new vehicle in March and the original assessment was incomplete or incorrect, you may receive a supplemental bill for the additional tax owed on that vehicle for the remainder of the tax year.

These supplemental bills are separate from your regular tax bills and have their own payment due dates. Property owners are responsible for paying supplemental taxes even if they believe the assessment is incorrect, though they retain the right to appeal the assessment through proper channels.

Example Calculation

Example 1: $300,000 Assessed Value

  • Assessed Value: $300,000
  • Less: Homestead Credit (if applicable): -$0 (requires application)
  • Net Taxable Value: $300,000
  • Annual Tax (estimated at $0.85/$100): $2,550
  • Monthly Payment: $212.50

Example 2: $600,000 Assessed Value

  • Assessed Value: $600,000
  • Less: Senior/Disabled Credit (if applicable): -$0 (requires application and qualification)
  • Net Taxable Value: $600,000
  • Annual Tax (estimated at $0.85/$100): $5,100
  • Monthly Payment: $425.00

Example 3: $1,000,000 Assessed Value

  • Assessed Value: $1,000,000
  • Less: Available Credits (if applicable): -$0 (most require application)
  • Net Taxable Value: $1,000,000
  • Annual Tax (estimated at $0.85/$100): $8,500
  • Monthly Payment: $708.33

Note: Real property tax rates vary by location within Craig County. Examples use estimated rates for illustration. Contact the Commissioner of Revenue for exact rates applicable to your property location.

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Section 5

Escrow & Property Taxes

Most mortgage lenders require property tax escrow accounts for Craig County properties, collecting monthly payments along with your mortgage payment to cover annual property taxes. Lenders typically collect 1/12th of your estimated annual property tax bill each month, plus additional funds to maintain a required cushion in the escrow account.

Craig County mails tax bills twice yearly - in late April for the June 5th due date and in early October for the December 5th due date. Your mortgage company will receive copies of these bills and make payments on your behalf from your escrow account. It's important to verify that your lender receives the bills and makes timely payments to avoid penalties.

If you have an escrow account, you'll receive an annual escrow analysis from your lender showing the account activity and any adjustments to your monthly payment. Property owners should review their tax bills even when paid through escrow to ensure accuracy and to stay informed about assessment changes or new special district taxes that might affect future escrow requirements.

How HonestCasa Helps
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Section 6

Frequently Asked Questions

Q: When are property taxes due in Craig County for FY 2025-2026? A: Property taxes are due twice yearly - June 5th and December 5th. Tax bills are mailed in late April and early October respectively.

Q: What tax credits are available and do I need to apply? A: Various tax credits may be available including homestead exemptions, senior/disabled credits, and veteran exemptions. Most credits require annual application and are NOT automatic. Contact the Commissioner of Revenue at (540) 864-6141 for specific credit applications and deadlines.

Q: How does the homestead credit work? A: The homestead credit typically caps annual assessment increases rather than reducing market value. This credit requires filing an application and meeting residency requirements. It does not automatically reduce your property value but limits how much your assessment can increase each year.

Q: When are properties reassessed in Craig County? A: Contact the Commissioner of Revenue for the current reassessment schedule. Property owners can appeal assessments through the Board of Equalization during designated appeal periods.

Q: What are the penalties for late payment? A: Late payments incur penalties and interest charges. Contact the County Treasurer at (540) 864-6131 for specific penalty rates and payment options.

Q: Can I pay my property taxes online? A: Contact the Craig County Treasurer's office at (540) 864-6131 for current online payment options and accepted payment methods.

Q: Why is my tax rate different from my neighbor's? A: Tax rates vary throughout Craig County based on special taxing districts, school districts, and other local assessments. Your exact rate depends on your property's specific location within the county.

Q: What property is exempt from personal property tax? A: Farm animals, grains, agricultural products, farm machinery, and farm equipment are exempt from personal property tax. Other exemptions may apply - contact the Commissioner of Revenue for a complete list.

Q: How is the personal property tax relief applied? A: Craig County provides personal property tax relief in accordance with state requirements. Contact the Commissioner of Revenue for details on current relief programs and eligibility requirements.

Q: What should I do if I disagree with my assessment? A: Contact the Commissioner of Revenue first to discuss your assessment. If unresolved, you can appeal to the Board of Equalization during the designated appeal period. Appeals must be filed within specific timeframes to be considered.

Verified Sources

Backed by 10 Official Government Sources

Every fact in this guide is sourced from official county, state, and federal documents.

01
State
Real Estate & Personal Property Taxescraigcountyva.gov
02
County
CRAIG COUNTY BOARD OF SUPERVISORScraigcountyva.gov
03
jesse spence, chair new castle district - carl bailey, member potts ...craigcountyva.gov
04
Governmentcraigcountyva.gov
05
County
Craig County Board of Supervisorscraigcountyva.gov
06
Tax Doc
Chapter 38 - TAXATIONcraigcountyva.gov
07
Tax Doc
21-55 | Virginia Taxtax.virginia.gov
08
Commissioner of Revenuecraigcountyva.gov
09
County
CRAIG COUNTY BOARD OF SUPERVISORS - AUGUST 1st, 2024craigcountyva.gov
10
meeting minutes - august 6th, 2020craigcountyva.gov
All sources verified as of 2025 Tax Year

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