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Virginia Property Tax

Virginia Property Tax is not a state subject and so it is assessed and collected separately by each individual county. In fact, each county has a separate property tax assessment program, where all kinds of real property, whether residential or commercial, is assessed by specially trained assessors. For example, the Fairfax county assesses all property within its jurisdiction at 100 percent of fair market value each year. Alongside, Virginia Property Tax Rate is also determined separately by each county and therefore, the magnitude of of VA Property Tax may be different for different counties in the state of Virginia .

Moreover, it is likely in Virginia that real estate assessment values may change over a period of time on account of a number of reasons, such as changes in economic conditions, structural changes, rezonings and land divisions. Furthermore, the VA Real Estate Tax Rate is determined annually by the county board of supervisors, which is a major factor for the calculation of property tax in Virginia. In some districts, an additional levy may be added to the base of VA Real Estate Tax.

A database of Virginia Property Tax Records is maintained and made available for public access by each county. You can find the assessed value of your property listed among such records.

Virginia Property Tax Rate

The assessed value of your real property and the prevailing property tax rate are utilized to compute your property tax bill. The assessed value is first divided by 100 and the quotient is multiplied by the tax rate to produce the real estate tax you owe. In the state of Virginia, Property Tax Relief is also provided to some elderly and permanently disabled homeowners. The tax relief is available for those qualified taxpayers who own and occupy a real property, which could be up to 1 acre of land. For more information regarding any aspect of VA Property Taxes, visit the official site of the county in which your property is located.


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