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Updated 2025 Tax Year

Lexington County
Property Tax Guide

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

8 Official Sources
8 min read
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Quick Facts
Tax Rate
$0.92 per $100 of assessed value (may vary by special taxing district)
Exemptions
4+ Available
Section 1

How Property Tax Works

Lexington County, Virginia operates under a property tax system that serves as a primary funding source for essential local services including schools, public safety, infrastructure maintenance, and county operations. The current property tax rate is $0.92 per $100 of assessed value, as set by the City Council. Property assessments are conducted periodically, with the next reassessment process scheduled to begin in Fall 2025, which may impact future tax rates and individual property assessments.

Property tax rates can vary by location within Lexington County due to special taxing districts that may impose additional levies for specific services or improvements. Property owners should verify their exact tax rate based on their specific location and any applicable special district assessments. The county follows Virginia state guidelines with assessments based on fair market value, and property owners have appeal rights during reassessment periods.

Section 2

What Makes Up Your Tax Bill

ComponentRate (per $100 assessed value)Description
Base County Levy$0.92General county services, schools, public safety
Special DistrictsVaries by locationAdditional assessments for specific area improvements
Total Rate$0.92+Base rate plus any applicable district assessments

Rates shown are for the current levy year. Future rates are subject to change following the reassessment process beginning Fall 2025. Actual rates may vary by location within Lexington County due to special taxing districts. Contact the Commissioner of Revenue's Office to confirm your specific tax rate and any applicable district assessments.

Section 3

When Are Property Taxes Due?

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

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 taxes in Lexington County are additional property tax bills issued when there are mid-year changes to property ownership, new construction completion, or significant property improvements that increase assessed value. These taxes are calculated based on the difference between the old and new assessed values, multiplied by the current tax rate, and prorated for the remaining months in the tax year.

For example, if you purchase a newly constructed home in March that adds $50,000 in assessed value, you would receive a supplemental tax bill for the additional assessment ($50,000 × $0.92 per $100 = $460) prorated for the 9 remaining months of the tax year, resulting in approximately $345 in supplemental taxes due.

Example Calculation

Example 1: $300,000 Home

  • Assessed Value: $300,000
  • Available Tax Credits: $0 (assuming no applications filed)
  • Net Taxable Value: $300,000
  • Annual Tax: $300,000 ÷ 100 × $0.92 = $2,760
  • Monthly Equivalent: $230

Example 2: $600,000 Home (with Veterans Credit)

  • Assessed Value: $600,000
  • Veterans Tax Credit: -$500 (requires application)
  • Net Tax After Credits: $600,000 ÷ 100 × $0.92 - $500 = $5,020
  • Monthly Equivalent: $418

Example 3: $1,000,000 Home (with Elderly/Disabled Credit)

  • Assessed Value: $1,000,000
  • Elderly/Disabled Credit: -$1,000 (requires application and income qualification)
  • Net Tax After Credits: $1,000,000 ÷ 100 × $0.92 - $1,000 = $8,200
  • Monthly Equivalent: $683

Note: All tax credits require annual application and qualification verification. Credits shown are examples and actual amounts may vary.

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Section 5

Escrow & Property Taxes

Most mortgage lenders in Lexington County collect property taxes through monthly escrow payments as part of your mortgage payment. Lenders typically collect 1/12 of your annual tax bill each month, plus a cushion amount as required by federal law. Your lender will pay your property taxes directly to the county on your behalf when they become due.

Property tax bills are mailed twice yearly: first half bills around November 1 (due December 5) and second half bills around May 1 (due June 5). If you have an escrow account, these bills are sent to both you and your lender for verification purposes. You should review these bills to ensure accuracy and confirm your lender has current information. If you pay taxes directly without escrow, you are responsible for making payments by the due dates to avoid the 10% penalty charge.

How HonestCasa Helps
  • Understand whether your escrow is set correctly
  • See how rising taxes will change your monthly payment
  • Plan ahead instead of being surprised by "shortage" letters
Section 6

Frequently Asked Questions

Q: When are property taxes due in Lexington County? A: Property taxes are paid in two installments. The first half is due December 5, and the second half is due June 5. Bills are mailed approximately one month before each due date.

Q: What tax credits are available and how do I apply? A: Available tax credits include Veterans, Elderly/Disabled, and homestead-type credits that may limit assessment increases. All credits require annual application with the Commissioner of Revenue's Office and are NOT automatic. Contact their office for specific application deadlines and eligibility requirements.

Q: How does the Homestead credit work? A: The Homestead credit typically caps the annual increase in your property's assessed value (such as limiting increases to 10% per year), rather than reducing the market value itself. You must file an application to receive this credit - it is not automatically applied.

Q: When do property assessments occur? A: The next countywide reassessment process is scheduled to begin in Fall 2025. Property owners will receive new assessment notices and have appeal rights during the reassessment period.

Q: What happens if I pay my taxes late? A: A penalty of 10% is added to late payments. Interest may also accrue on unpaid balances after the due date.

Q: Can I pay my property taxes online? A: Contact the Commissioner of Revenue's Office or Treasurer's Office to confirm current online payment options and accepted payment methods.

Q: How do special taxing districts affect my tax bill? A: Some areas within Lexington County have additional special district assessments for specific improvements or services. Your total tax rate includes both the base county rate and any applicable special district rates for your location.

Q: Who do I contact for tax exemptions for non-profit organizations? A: Non-profit organizations may be eligible for property tax exemptions. Contact the Commissioner of Revenue's Office to file the required exemption application and provide qualifying documentation.

Verified Sources

Backed by 8 Official Government Sources

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

01
State
Real Estate Tax | Lexington, VAlexingtonva.gov
02
Tax Doc
Personal Property Taxlexingtonva.gov
03
Tax Doc
Business Personal Property Taxlexingtonva.gov
04
State
Real Estate Tax | Lexington, VAlexingtonva.gov
05
State
real estate tax assistance senior or disabled citizensco.rockbridge.va.us
06
County
LEXIN GT ON C OUNT Y VETERANS NEWS - Lexington Countylex-co.sc.gov
07
County
Lexington County CDBG-MIT Voluntary Buyout Program ...lex-co.sc.gov
08
County
city of lexington-county of rockbridge voluntary settlementdhcd.virginia.gov
All sources verified as of 2025 Tax Year

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