Real Estate Tax

Real estate taxes are assessed on all real property owned in the City of Lexington, with the exception of property owned by non-profit organizations. Real estate taxes are assessed by the Commissioner of Revenue's Office from reassessments by contracted assessors. Taxes are collected by the Treasurer's Office twice each year. Taxes are assessed for the full year, with the first half of the tax amount due December 5 and the second half due June 5.

Real Estate Tax Rate & Billing
City Council adopts a tax rate for real estate tax each year when the budget is approved. Real estate taxes are collected in two installments, but may be paid at once if the taxpayer so desires. Bills for the first half are mailed around November 1, and are due December 5. Second half bills are mailed around May 1 and are due on June 5. A penalty of 10% is assessed if the bill is not paid by the due date. Interest at the rate of 10% per year accrues on unpaid balances.

Bills are mailed to last known address. It is the taxpayer's responsibility to keep the treasurer informed as to where the tax bill is to be mailed. Failure to receive a tax bill does not relieve the taxpayer of responsibility for paying their taxes on time.

The real estate tax bill can be paid online or by phone.

Mortgage Companies
Mortgage companies pay real estate taxes for property owners that have an escrow with them. Each year mortgage companies request from the Treasurer's Office the real estate tax bills for which they will be responsible. The City of Lexington cannot issue a bill to a mortgage company unless it has been requested by that company. Individuals receiving bills that are to be paid by a mortgage company should send these bills directly to the mortgage company with their loan number and ask that the company request future bills directly from the city.

If You Do Not Receive a Real Estate Tax Bill
Anyone who owns property or acquires additional property, excluding those with exemptions or deferrals or those who maintain an escrow account with a mortgage company, should receive a tax bill approximately four weeks prior to the due dates of June 5 and December 5. If you do not receive a bill, contact the Treasurer's Office before the due date at 540-462-3707. The appropriate information can be given over the telephone. It is preferable, but not necessary to have the bill or a copy of the bill in order to make payment.

When You Purchase or Sell Real Property
Under Virginia law, real property is assessed for the entire year in the name of the owner as of July 1 of the year. The purchaser at a sale is required to see that the proceeds from the sale are applied at settlement to any taxes and levies assessed on the real estate. The liability is prorated between the buyer and the seller, but the lien which arises from a delinquency attaches to the land.

Changes in Address and/or Tax Billing Status
If there has been a change in your address, your loan is paid off, or any other change pertaining to the tax billing status occurs, contact the Treasurer's Office at 540-462-3707 so that the record can be updated and the bill mailed to the correct address.

Tax Relief
Lexington residents aged 65 or over and certain disabled persons may be eligible for exemption and/or deferral of real estate tax depending upon their annual income and assets (not including the value of the home). Applications for tax relief must be filed each year. Further information on the program is available by calling the commissioner of revenue at 540-462-3701.