Borg á Mýrum is an ancient farm and church estate due west of Borgarnes township. Its recorded history reaches back to the settlement of Iceland. One of the country's original settlers was Skallagrímur Kveldúlfsson, who claimed the area around Borg as his land, built a farm and made his home there. His son Egill Skallagrímsson then continued to live and farm at Borg á Mýrum. Today there is a monument to Egill at Borg.
Borg á Mýrum has been a significant place throughout Iceland's history, and has had a church ever since Icelend was Christianised around the year 1000. The present church at Borg was built in 1880, and is notable for its geographical alignment: it faces North-South, which is not traditional for Icelandic churches. It is also unusual in that the church building does not stand in the church yard, but is separated from it by the farm buildings. The altarpiece was made by W.G. Collingwood, an artist and Archeologist who painted the piece after visiting Iceland for an extensive trip in and around the country, from which there exists a collection of paintings, in 1897.