Præstø is a defunct municipality. As a result of Kommunalreformen, the municipality of Præstø ceased to exist on January 1, 2007. It was combined with the municipalities of Langebk, Mn, and Vordingborg to form the larger Vordingborg municipality. This resulted in the formation of a municipality with a total area of 615 km2 and a population of 46,307. The municipality is part of the new Region Sjælland.
Præstø Habour is near the town center. Modern marina with well-equipped facilities. There is a nice restaurant, a café, a fishmongers shop, and an ice cream kiosk in the harbour area.