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Updated 2025 Tax Year

Prince Edward County
Property Tax Guide

Everything you need to know about property taxes in Prince Edward 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
Base county rate varies annually, additional levies apply by location/district
1st Due
Dec 5
Exemptions
4+ Available
Section 1

How Property Tax Works

Prince Edward County, Virginia operates on a property tax system that serves as the primary funding source for local government services, including public schools, law enforcement, fire and rescue services, road maintenance, and county administration. Property taxes are assessed based on the fair market value of real estate and personal property as of January 1st each year, with taxes becoming due and payable on December 5th annually.

The effective property tax rate in Prince Edward County varies by location within the county due to special taxing districts and additional assessments. While the base county rate fluctuates annually based on budget requirements, property owners may also be subject to additional levies depending on their specific location. The Board of Supervisors typically sets tax rates each April during the budget process, with rates becoming effective July 1st of each fiscal year.

It's important to note that actual tax bills can vary significantly within the county boundaries due to special assessment districts, and property owners should verify their specific tax obligations with the Commissioner of Revenue's office, as rates and available tax relief programs require individual application and verification.

Section 2

What Makes Up Your Tax Bill

ComponentRate StatusDescription
Base Real Estate RateTBD April 2025Primary county levy for general services (FY 2025-2026)
Personal Property RateTBD April 2025Applied to vehicles, boats, and other personal property
Special District AssessmentsVaries by LocationAdditional levies may apply based on property location
School Bond AssessmentsVariesAdditional charges for educational facility bonds

Note: The Prince Edward County Board of Supervisors will determine final tax rates for FY 2025-2026 in April 2025, effective July 1, 2025. Rates vary significantly by special taxing districts within the county. Property owners should contact the Commissioner of Revenue at (434) 392-8837 to determine their specific rate based on property location and applicable district assessments.

Section 3

When Are Property Taxes Due?

For the 2025/2026 tax year in Prince Edward 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 taxes in Prince Edward County are additional property tax assessments that occur when there are changes to property ownership or improvements made after the January 1st assessment date. Common triggers include property sales, new construction completion, additions or major renovations, and changes in property use or zoning classification.

When a supplemental assessment is issued, the tax is calculated by applying the current tax rate to the difference between the new assessed value and the previous assessed value, prorated for the portion of the tax year remaining. For example, if a property undergoes a major renovation completed in June that increases the assessed value by $50,000, the supplemental tax would be calculated on that $50,000 increase for the remaining months of the tax year (approximately 6 months).

Property owners receive a separate supplemental tax bill in addition to their regular annual tax bill. These supplemental taxes attach as an enforceable lien on the property and follow the same payment and penalty structure as regular property taxes, with interest and penalties accruing if not paid by the specified due date.

Example Calculation

Example 1: $300,000 Property

  • Assessed Value: $300,000
  • Available Tax Credits Applied: $0 (requires separate application)
  • Net Taxable Value: $300,000
  • Estimated Tax Rate: ~1.0% (pending April 2025 determination)
  • Annual Tax: ~$3,000
  • Monthly Escrow: ~$250

Example 2: $600,000 Property

  • Assessed Value: $600,000
  • Senior Citizen Tax Credit: $0 (must apply - contact Commissioner of Revenue)
  • Net Taxable Value: $600,000
  • Estimated Tax Rate: ~1.0% (pending April 2025 determination)
  • Annual Tax: ~$6,000
  • Monthly Escrow: ~$500

Example 3: $1,000,000 Property

  • Assessed Value: $1,000,000
  • Tax Credits Applied: $0 (all credits require application)
  • Net Taxable Value: $1,000,000
  • Estimated Tax Rate: ~1.0% (pending April 2025 determination)
  • Annual Tax: ~$10,000
  • Monthly Escrow: ~$833

Note: All tax credits require separate application through the Commissioner of Revenue. Actual rates for FY 2025-2026 will be determined in April 2025.

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Section 5

Escrow & Property Taxes

Most mortgage lenders in Prince Edward County require property tax escrow accounts for borrowers with less than 20% equity in their homes. Lenders collect monthly escrow payments along with mortgage payments, depositing funds into a separate account to pay property taxes when due on December 5th each year. The monthly escrow amount is calculated by dividing the annual property tax bill by 12, often with a small buffer to account for potential tax increases.

Property owners with escrow accounts should receive an annual escrow analysis from their lender, typically showing how funds were collected and disbursed throughout the year. When property taxes increase, lenders will adjust the monthly escrow payment accordingly. If there's a shortage in the escrow account, borrowers may need to make up the difference either through a lump sum payment or increased monthly payments over the following year.

It's crucial for property owners to verify that their lenders are paying taxes correctly and on time, as property owners remain ultimately responsible for tax payments even when using escrow services. The Prince Edward County Treasurer's office can verify payment status, and property owners should review their annual tax bills even when taxes are escrowed to ensure accuracy and proper payment.

How HonestCasa Helps
  • Understand whether your escrow is set correctly
  • See how rising taxes will change your monthly payment
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Section 6

Frequently Asked Questions

Q: When are property taxes due in Prince Edward County for the current fiscal year? A: Property taxes are due December 5th annually. For FY 2025, this includes both real estate and personal property taxes, with penalties and interest applying to late payments.

Q: What tax credits are available and how do I apply? A: Elderly and disabled homeowners may qualify for real estate tax relief credits. All tax credits require application through the Commissioner of Revenue's office at (434) 392-8837. Credits are not automatic and must be renewed periodically.

Q: Is there a homestead tax credit that limits assessment increases? A: Virginia law provides for certain assessment limitation programs for qualifying seniors and disabled persons. These credits cap assessment growth rather than reducing market value and require annual application. Contact the Commissioner of Revenue to determine eligibility.

Q: When does the county reassess properties? A: Prince Edward County conducts property assessments annually as of January 1st. Property owners who disagree with their assessment can appeal through the Board of Equalization during the designated appeal period each spring.

Q: What are the penalties for late property tax payments? A: Late payments incur interest and penalties as prescribed by Virginia law. The exact penalty structure can be obtained from the County Treasurer's office, and payments made after December 5th are subject to additional charges.

Q: Can I pay property taxes online? A: Contact the Prince Edward County Treasurer's office at (434) 392-8837 for current online payment options and acceptable payment methods.

Q: How do special district taxes work? A: Property owners may be subject to additional tax levies based on their location within special assessment districts. These vary by area and fund specific services or improvements. The Commissioner of Revenue can identify applicable districts for specific properties.

Q: When is the personal property tax return due? A: Personal property tax returns are due March 1st annually. This includes vehicles, boats, and other taxable personal property owned as of January 1st.

Verified Sources

Backed by 10 Official Government Sources

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

01
County
Untitled - Prince Edward Countyco.prince-edward.va.us
02
County
January 10, 2025 Dear Prince Edward County Property Owner, As ...co.prince-edward.va.us
03
County
2025 County Reassessment Notices Mailedco.prince-edward.va.us
04
County
ATTENTION Prince Edward County Taxpayersco.prince-edward.va.us
05
County
Treasurer - Prince Edward Countyco.prince-edward.va.us
06
County
Commissioner of the Revenue - Prince Edward Countyco.prince-edward.va.us
07
LIS > Bill Tracking > Committees > 2024 sessionlegacylis.virginia.gov
08
County
Prince Edward County, Virginiaepayments.co.prince-edward.va.us
09
County
COUNTY OF PRINCE EDWARD, VIRGINIA FINANCIAL REPORT ...co.prince-edward.va.us
10
County
Prince Edward County - BUDGET - REVENUE ACCOUNTING ...co.prince-edward.va.us
All sources verified as of 2025 Tax Year

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