Economic Development | Taxes & Cost of Living

Buckingham County offers some of the lowest tax rates in Virginia. The rates were last changed in 2008 from $.58 to $.44 for real estate and in 2000 $3.30 to $4.05 for personal property. There are exceptions for qualified residents when paying taxes; click here to find out more about the programs. The following table describes that types or taxes and rates in Buckingham County:

Type of Property :	Rate :
Real Estate :	$0.44 per $100 of assessed value
Public Service Corporation	$0.44 per $100 of assessed value
Personal Property:	$4.05 per $100 of assessed value
Machinery & Tools	$2.90 per $100 of assessed value
Aircraft	$0.55 per $100 of assessed value
Merchant's Capital	$1.00 per $100 of assessed value

The Commonwealth of Virginia's income tax rate schedule is as follows:

If your taxable income is:
Over	But Not Over	Your Tax Is	Of Excess Over
$ 0	3,000	2%
$3,000	$5,000	$60 + 3%	$ 3,000
$5,000	$17,000	$120 + 5%	$ 5,000
$17,000	....	$720 + 5.75%	$17,000

Information courtesy Virginia Department of Taxation

The sales tax rate in Virginia is 5% (4% state tax and 1% local tax). The tax on food was decreased from 3% to 1.5% on July 1, 2005. For more information on Virginia's tax rates, contact the Commissioner of Revenue or visit www.tax.virginia.gov.

In Buckingham County, the cost of living is very low as there are very few fees. Every year, by April 15, residents must purchase a county decal from the Treasurer's Office, which costs $25. Dog licenses cost $3 and must be purchased by January 31 of every year. If a resident is on the county water system, they are billed a minimum of $27.81 for 4,000 gallons used. After 4,000 gallons, residents are billed $9.27 per thousand gallons. County sewer rates are the same.