Farmville, Prince Edward County, Virginia Property Taxes

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Property Taxes in Farmville, Virginia

Median FARMVILLE, VA effective property tax rate: 0.48%, significantly lower than the national median of 1.02%, but lower than the Virginia state median of 0.89%.
Median FARMVILLE, VA home value: $156,200
Median annual FARMVILLE, VA tax bill: $750, $1,650 lower than the national median property tax bill of $2,400.

How are property taxes in Prince Edward calculated?

Property taxes in FARMVILLE, 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 FARMVILLE’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in FARMVILLE, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Farmville, Prince Edward County, Virginia Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.51%

Estimate Property Tax Bill

$797

$740

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

Property Tax Rates Across Farmville, Prince Edward County, Virginia

Local government entities set tax rates, which can vary widely within a state. Annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process. Below, you can compare Farmville’s effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S.

In Farmville, located in Prince Edward County, the median property tax rate is 0.48%, which is significantly lower than the national median property tax rate of 1.02%. This makes Farmville an attractive location for property owners seeking lower tax liabilities. The highest and lowest median tax rates in the region are both 0.48%, indicating a uniformity in property tax rates across the area. Comparing these figures to the national median property tax bill of $2,400, Farmville offers a more affordable option for homeowners. This consistency and affordability in property tax rates make Farmville a desirable place for potential homebuyers and investors looking for favorable tax conditions.

Property Tax Rates Across Farmville, Prince Edward County, Virginia

Source: Ownwell

0.51%

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 Farmville Tax Rate

0.51%

Median Effective Prince Edward County Tax Rate

0.51%

Median Effective Virginia Tax Rate

0.90%

Median Effective United States Tax Rate

1.02%

Property Tax Rates Across Farmville, Prince Edward County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
23901	0.51%	0.51%	0.51%	0.51%	0.51%

Source: Ownwell

Property Tax Assessment Values Across Farmville, Prince Edward County, Virginia

When examining property taxes in Farmville, 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 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.

In Prince Edward 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 Farmville. For example, the median home price in Farmville is $156,200, with tax bills ranging significantly across the county. The zip code 23901 has the highest median home price at $156,200.

Property Tax Assessment Values Across Farmville, Prince Edward County, Virginia

Source: Ownwell

$102,300

$129,300

$156,300

Median Farmville Market Value

$156,300

Median Prince Edward County Market Value

$130,400

Median Virginia Market Value

$323,500

Median United States Market Value

$235,294

Property Tax Assessment Values Across Farmville, Prince Edward County, Virginia

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
23901	$61,700	$94,500	$156,300	$219,350	$281,720

Source: Ownwell

Property Tax Bills Across Farmville, Prince Edward County, Virginia

In Farmville, located in Prince Edward County, VA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price here is $156,200, and the tax rate is applied to this assessed value to determine the annual tax bill. The tax bill can vary significantly, with the 25th percentile at $453 and the 75th percentile reaching $1,054. For those in the 90th percentile, the tax bill can rise to $1,355. Compared to the national median property tax bill of $2,400, Farmville homeowners generally pay less. However, these taxes can still be a substantial financial burden. Factors like changes in property value and local tax rate adjustments can influence how much homeowners owe. Ownwell assists homeowners by reviewing their property assessments and ensuring they are fair, potentially lowering tax bills through appeals and exemptions. By leveraging Ownwell’s expertise, homeowners can effectively manage and reduce their property tax liabilities, providing peace of mind and financial relief.

Property Tax Bills Across Farmville, Prince Edward County, Virginia

Source: Ownwell

$522

$657

$791

Median Farmville Tax Bill

$791

Median Prince Edward County Tax Bill

$655

Median Virginia Tax Bill

$2,852

Median United States Tax Bill

$2,400

Property Tax Bills Across Farmville, Prince Edward County, Virginia

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
23901	$285	$474	$791	$1,112	$1,427

Source: Ownwell

Don't miss the deadline to appeal!

Dates
Appeal Deadline	June 1

Links
Prince Edward Tax Assessor
Website	epayments.co.prince-edward.va.us

Frequently Asked Property Tax Questions in Farmville, Virginia

How are property taxes calculated in Farmville, Virginia?

Property taxes in Farmville, Virginia are calculated by multiplying your property's assessed value by the applicable tax rate set by local taxing authorities. The assessed value is determined by the county assessor and may differ from your property's market value depending on local assessment ratios and exemptions.

How do I appeal my property taxes in Farmville, Virginia?

To appeal your property taxes in Farmville, Virginia, you typically need to file a formal protest or appeal with your local appraisal district or assessor's office by the stated deadline. You'll need evidence such as comparable sales, a recent independent appraisal, or documentation of property condition issues. Ownwell can handle this entire process for you.

What property tax exemptions are available in Farmville, Virginia?

Common property tax exemptions in Farmville, Virginia include homestead exemptions for primary residences, senior citizen exemptions, veteran exemptions, and disability exemptions. Exemption amounts and eligibility requirements vary by county. Contact your local appraisal district or check Ownwell for details specific to your property.

When are property taxes due in Farmville, Virginia?

Property tax deadlines in Farmville, Virginia vary by county but typically include an assessment notice period in spring or early summer, followed by an appeal deadline, and a tax payment due date in the fall or winter. Check with your county assessor's office for specific dates in your area.

How can Ownwell help reduce my property taxes in Farmville, Virginia?

Ownwell provides professional property tax appeal services in Farmville, Virginia. Our team analyzes your assessment, gathers evidence, files all paperwork, and represents you at hearings — all with no upfront cost. You only pay a percentage of your savings if we successfully lower your tax bill.