Virginia (VA) property tax rate: 0.82% | Median home: $385,000 | Median annual tax: $3,157
Virginia is a prosperous Mid-Atlantic state with a diverse economy. The average effective property tax rate in Virginia is 0.82%, which is near the national average of 1.1%.
On the median Virginia home valued at $385,000, annual property taxes come to approximately $3,157 or $263/month. This is a significant part of your total housing cost and should be factored into any home purchase budget.
Pro tip: Virginia has no state transfer tax and relatively low property taxes for the Mid-Atlantic.
Combined with Virginia's state income tax rate of 5.75%, homeowners should consider the total tax picture. Property taxes in Virginia are manageable and in line with regional averages.
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Virginia has an average effective property tax rate of 0.82%. On the median home value of $385,000, that equals approximately $3,157 per year or $263 per month.
Property taxes in Virginia are calculated by multiplying your home assessed value by the local tax rate. The assessed value may differ from market value depending on your county assessment ratio. Exemptions like homestead exemptions can reduce your taxable value.
Virginia has no state transfer tax and relatively low property taxes for the Mid-Atlantic.
Virginia property taxes are near the national average of 1.1%. This means property tax costs are predictable and in line with most states.
Property tax due dates vary by county in Virginia. Most counties offer semi-annual payments. Check with your county tax assessor office for specific due dates. Late payments typically incur penalties of 1-2% per month.