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Homestead Exemption Laws in Virginia

Virginia lets a householder exempt up to $50,000 in a principal residence, plus a $5,000 general exemption ($10,000 at age 65 or older), with amounts indexed from April 1, 2027.

Last checked . General information, not legal advice.

Virginia at a glance

Exemption amount
$50,000
Plus $5,000 in any property ($10,000 if 65 or older) and $500 per dependent. CPI adjustments start April 1, 2027.
Unlimited in value
No
Acreage limit
No acreage limit

Sources

Last checked

The rules in Virginia

How much home equity does the homestead exemption protect in Virginia?

Exemption amount in Virginia: $50,000. Plus $5,000 in any property ($10,000 if 65 or older) and $500 per dependent. CPI adjustments start April 1, 2027.

Is the homestead exemption unlimited in value in Virginia?

No. Unlimited in value in Virginia: no.

Is there an acreage limit on the homestead exemption in Virginia?

Acreage limit in Virginia: No acreage limit.

Where do the Virginia homestead exemption laws come from?

The rules above come from Va. Code 34-4. Each source is linked on this page. We last checked them in October 2026.

Good to know

The section was last amended by 2024 Va. Acts ch. 656. Adjustments do not apply to bankruptcy cases filed before April 1, 2027.

What this means in practice

The exemption applies to equity, not to the full value of the home. Equity is the market value minus the mortgages and other liens on the property. A lender that holds a mortgage on the home, and certain other claims such as taxes on the property, can usually still be enforced against it regardless of the exemption.

Check whether you need to take a step to claim the protection. Some states protect a home automatically once it is your residence, while others require you to record a homestead declaration with the county or to claim the exemption in court when a creditor tries to collect.

In bankruptcy, federal law can limit a state homestead exemption for a home bought within a set period before the filing, and residency rules decide which state's exemptions apply if you moved recently. Some states also let filers choose the federal bankruptcy exemptions instead of the state list. A bankruptcy attorney can confirm which rules apply to your situation.

General information, not legal advice. Laws change, and cities can add their own rules, so check the current statute before you rely on it.