Cullen, Prince Edward County, Virginia Property Taxes
Median Cullen, 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 Cullen, VA home value: $117,600
Median annual Cullen, VA tax bill: $564, $1,836 lower than the national median property tax bill of $2,400.
How are property taxes in Prince Edward County calculated?
Property taxes in Cullen, 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 Cullen’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Cullen, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Cullen, Prince Edward County, Virginia Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.51%
Estimate Property Tax Bill
$600
$557
Property Tax Rates Across Cullen, Prince Edward County, Virginia
Local government entities determine property tax rates, which can greatly differ within a state. This is because each county annually estimates its required budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. Though votes and laws play a role in setting tax rates and budgets, this is essentially the annual process.
Cullen in Prince Edward County, Virginia, has an effective property tax rate of 0.48%, which is significantly lower than the national median property tax rate of 1.02%. This makes Cullen an attractive location for property owners looking to minimize their tax burden. When compared to other cities within Virginia, Cullen's rate stands out for its affordability. The lower tax rate can contribute to a reduced overall cost of living, making it a desirable place for families and individuals alike. Understanding these rates can help property owners make more informed decisions about where to invest or settle down.
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 Cullen Tax Rate
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 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 Cullen, Prince Edward County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23934 | 0.51% | 0.51% | 0.51% | 0.51% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Cullen, Prince Edward County, Virginia
When examining property taxes in Cullen, VA, 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 March. 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 Cullen. For example, the median home price in Cullen is $117,600, with tax bills ranging significantly across the county. Zip code 23934 has the highest median home price at $117,600.
Property Tax Assessment Values Across Cullen, Prince Edward County, Virginia
Source: Ownwell
$102,300
$129,300
$156,300
Median Cullen Market Value
$117,600
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 Cullen, Prince Edward County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23934 | $30,200 | $86,200 | $117,600 | $162,750 | $239,100 |
Source: Ownwell
Property Tax Bills Across Cullen, Prince Edward County, Virginia
Median Cullen Tax Bill
$595
Median Prince Edward County Tax Bill
$655
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$2,400
Property Tax Bills Across Cullen, Prince Edward County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23934 | $148 | $435 | $595 | $830 | $1,219 |
Source: Ownwell