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How much are Virginia Beach Real Estate taxes?

The amount of real estate tax you pay each year is based on the city's tax appraisal of your property. So, the formula is:

Yearly Real Estate Taxes = Assessment X Tax Rate

The real estate tax rate is set by City Council of Virginia Beach. The real estate taxes for the Fiscal Year 2005 (July 1st, 2004 - June 30th,2005) are fixed at the following rates:

The General Tax District uses the rate of %1.1964, which equates to $1.1964 per $100 in value. For example, a house appraised at $100,000 would have an annual tax of $1,196.40 represented by the $100,000 X 0.01964 formula.

The Sandbridge Tax District uses the rate of %1.3164, which equates to $1.3164 per $100 in value. For example, a house appraised at $100,000 would have an annual tax of $1,316.40 represented by the $100,000 X 0.013164 formula.

The Central Business Tax District uses the rate of %1.7664, which equates to $1.7664 per $100 in value. For example, a house appraised at $100,000 would have an annual tax of $1,766.40 represented by the $100,000 X 0.017664 formula.

When are Virginia Beach Real Estate taxes due?

Half of the annual real estate tax is due twice a year to the Virginia Beach City Treasurer. The first payment is due on December 5th, 2004. The second payment is due June 5th, 2005. If you contribute to an escrow account through your mortgage payment, the mortgage company should make the payments from your escrow account. If you do not have a mortgage company, or have a mortgage company that does not require escrow, you must make the payments to the Virginia Beach City Treasurer.

You can contact the city by calling (757) 427-4601. Office hours are from 8:30 a.m. to 5:00 p.m., Monday through Friday.

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Virginia Beach Real Estate Tax Rate

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