![]() ![]() ![]() Assessed value is determined by local assessors on regular two- to six-year cycles. Property taxes in Virginia are calculated by multiplying a home’s assessed value by its total property tax rate. If you’re ready to find an advisor who can help you achieve your financial goals, get started now. ![]() SmartAsset’s free tool matches you with up to three vetted financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. In parts of Virginia, such as Alexandria City and Fairfax County, median home values surpass $500,000 and median annual property taxes exceed $5,000.Įager to move? Or perhaps you’re simply looking to refinance your current mortgage? Before making a decision, take a look at our Virginia mortgage guide, which contains everything you need to know about getting a mortgage and mortgage rates throughout Virginia.Ī financial advisor can help you understand how homeownership fits into your overall financial goals. Home values are quite high in Virginia, though, so homeowners here often pay annual property tax bills that are much more in line with national marks. 80%, which falls in the bottom half of the nation. In fact, the state's average effective property tax rate is just 0. Homeowners in the state of Virginia pay property tax rates that are well below the national average of 1.07%. Virginia Property Tax Photo credit: ©/DoxaDigital ![]()
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