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Prince Edward County holds public hearing on proposed 2025 real estate tax rate and FY2026 budget
Summary
County finance staff presented a proposed county budget balanced at a 39-cent real estate tax rate after reassessments increased values about 37% on average. School officials and local residents spoke in favor of the proposal; the board recessed the meeting and scheduled a budget hearing April 22 at 7 p.m.
Prince Edward County on Monday held a public hearing on proposed calendar-year 2025 county tax levies and a preview of the fiscal year 2026 county budget, with finance officials saying the advertised budget is balanced at a 39-cent real estate tax rate and noting property assessments rose about 37% on average.
Crystal Baker, Prince Edward County finance and budget manager, told the Board of Supervisors that “in the year of a general reassessment, the Code of Virginia requires localities to hold separate public hearings for county tax rates and for the county budget.” Baker said the county’s new assessments went into effect Jan. 1, 2025, and that a revenue-neutral rate would be 37 cents per $100 of assessed value but the proposed budget is balanced at 39 cents per $100, a roughly 5% increase from the current 51 cents per $100 rate.
Baker summarized the budget’s priorities and drivers, saying…
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