What is the property tax rate in Virginia Beach?

Virginia Beach's real estate tax rate is roughly $1.02 per $100 of assessed value, an effective rate near 1.02%. The city assesses property at 100% of fair market value, so assessed value equals market value.

Does Virginia Beach assess below market value?

No. Unlike states that use an assessment ratio, Virginia assesses real estate at 100% of fair market value. Your assessed value should match the city's most recent appraisal of the home.

Is this my exact bill?

It is an estimate. Special service districts, stormwater fees, and recent rate changes can shift the final bill, so check your assessment notice and the city treasurer for the exact amount.

Virginia Beach Property Tax Estimator

Q: How is the tax calculated?

Multiply the assessed value by the rate per $100. For a $400,000 home at $1.02 per $100, the annual tax is 400000 divided by 100, times 1.02, which is about $4,080.

Q: Are there exemptions?

Virginia Beach offers relief for qualifying elderly or disabled owners and a full exemption for 100% service-connected disabled veterans on their primary residence. The tool lets you apply an exemption amount or full veteran relief.

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Estimate your Virginia Beach property tax

Virginia Beach levies real estate tax at roughly $1.02 per $100 of assessed value, an effective rate near 1.02%. Because the city assesses at 100% of fair market value, your assessed value equals the home’s market value. This tool turns that value into an annual tax estimate.

How it works

Virginia property tax is quoted per $100 of assessed value, so the formula is:

taxable value = assessed value - exemptions
annual tax    = (taxable value / 100) * rate per $100
monthly escrow = annual tax / 12

Virginia Beach does not use a fractional assessment ratio, so there is no extra multiplier. The biggest adjustments are exemptions, including relief for qualifying elderly and disabled owners and a full exemption for 100% service-connected disabled veterans on a primary residence.

Tips and example

For a 400000 home at $1.02 per $100, the annual tax is 400000 / 100 * 1.02 = 4080, or about 340 per month in escrow. Applying a $10,000 exemption lowers taxable value to 390000 and the tax to about 3978.

Enter your assessment notice value and, if eligible, an exemption to estimate your true bill. Toggle the veteran exemption to model a full primary-residence relief.