Property Taxes in Green Bay, Virginia
Median Green Bay, Virginia effective property tax rate: 0.51%, significantly lower than the national median of 1.02%, and lower than the Virginia state median of 0.90%.
Median Green Bay, Virginia home value: $109,100
Median annual Green Bay, Virginia tax bill: $552, lower than the national median property tax bill of $2,400.
How are property taxes in Prince Edward calculated?
Property taxes in Green Bay, Virginia 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 Green Bay's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Green Bay, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
How Does the Green Bay Property Tax Calculator Work?
Use this Green Bay property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Green Bay's median effective tax rate of 0.51% — based on actual property records in Prince Edward County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local assessment process uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Green Bay's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Green Bay: rates range from 0.51% in 23942 to 0.51% in 23942, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Green Bay.
About Green Bay Property Taxes
About Property Taxes in Green Bay, Prince Edward, Virginia
Green Bay’s median effective property tax rate of 0.51% is lower than the Virginia state median of 0.90% and lower than the national median of 1.02%. This rate reflects the Prince Edward County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Green Bay. Homeowners in ZIP code 23942 carry a median effective rate of 0.51%, while those in the same ZIP code also pay 0.51%. This means there is no spread across the city, but your tax bill can still depend on how your property is assessed and which local levies apply.
Green Bay homeowners who believe their assessed value is too high can file a formal appeal with the Tax Assessor before the June 1, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Green Bay, Prince Edward County, Virginia
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because 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 Green Bay's effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S.
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 Green Bay 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
1.27%
Property Tax Rates Across Green Bay, Prince Edward County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23942 | 0.51% | 0.51% | 0.51% | 0.51% | 0.51% |
Source: Ownwell
Property Tax Assessment Values Across Green Bay, Prince Edward County, Virginia
When examining property taxes in Green Bay, 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.
Assessment notices:
In Prince Edward County, assessment notices are sent in January each year. They'll typically reach your mailbox by the middle of January.
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. For Green Bay, the median home price is $109,100, with tax bills ranging from $204 at the 25th percentile to $1,105 at the 90th percentile. The median tax bill is $552, well below the national median property tax bill of $2,400 and the national median property tax rate of 1.02%.
Property Tax Assessment Values Across Green Bay, Prince Edward County, Virginia
Source: Ownwell
$102,300
$129,300
$156,300
Median Green Bay Market Value
$109,100
Median Prince Edward County Market Value
$130,400
Median Virginia Market Value
$323,500
Median United States Market Value
$274,101
Property Tax Assessment Values Across Green Bay, Prince Edward County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23942 | $22,140 | $45,750 | $109,100 | $155,700 | $216,700 |
Source: Ownwell
Property Tax Bills Across Green Bay, Prince Edward County, Virginia
Property tax bills in Green Bay are calculated from the assessed value of a home and the local tax rate set for Prince Edward. When a property’s assessed market value rises, the tax bill can increase as well, even if the homeowner has not made any major changes to the house. The amount owed is determined by multiplying the assessed value by the applicable tax rate, so both home value and local rates matter.
For homeowners, this means property taxes can vary widely from one home to another. In Green Bay, the median home price is $109,100, while the tax bill typically falls between $204 at the 25th percentile and $1,105 at the 90th percentile. The median tax bill is $552, which is well below the national median property tax bill of $2,400 and the national median property tax rate of 1.02%.
Median Green Bay Tax Bill
$552
Median Prince Edward County Tax Bill
$655
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$3,209
Property Tax Bills Across Green Bay, Prince Edward County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23942 | $108 | $204 | $552 | $793 | $1,105 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | February 20 |
Links | |
|---|---|
| Prince Edward Tax Assessor | |
| Website | epayments.co.prince-edward.va.us |