How Much Is Virginia Property Tax? Rates, Calculations, and What You Pay in 2026

When you buy a home in Virginia, the monthly mortgage payment isn’t the only bill you’ll get. Property tax hits your mailbox twice a year-and it can add hundreds, sometimes over a thousand dollars, to your annual housing costs. Many new homeowners in Virginia are shocked when they see the final number. So how much is Virginia property tax, really? The answer isn’t simple. It depends on where you live, what your home is worth, and how your county or city chooses to tax it.

Virginia Property Tax Rates Vary by County

There’s no single Virginia property tax rate. Each of the 95 counties and 38 independent cities sets its own rate. That means two identical homes in different parts of the state can have wildly different tax bills. In 2026, the average effective property tax rate in Virginia is around 0.84% of a home’s assessed value. That’s below the national average of about 0.90%, but don’t let that fool you.

For example, in Fairfax County, the 2026 tax rate is $1.18 per $100 of assessed value. On a $500,000 home, that’s $5,900 a year. In contrast, Highland County, one of the least populated areas in the state, has a rate of just $0.65 per $100. Same home, same value-$3,250 in taxes. That’s a $2,650 difference just because of where you live.

Some cities, like Alexandria and Richmond, have higher rates because they rely more on property taxes to fund schools, police, and public services. Others, like Loudoun County, have seen rapid growth and have raised rates to keep up with infrastructure demands.

How Virginia Calculates Your Property Tax

Your tax bill comes from two numbers: your home’s assessed value and your local tax rate. The formula is simple:

Property Tax = (Assessed Value ÷ 100) × Tax Rate

But here’s what most people don’t realize: the assessed value is not the same as your purchase price or market value. Virginia law requires local assessors to value property at 100% of its fair market value, but they don’t update values every year. Most counties reassess every two to four years. So if you bought your house for $450,000 in 2023, it might still be assessed at $460,000 in 2026-even if the market dropped.

Assessors look at recent sales of similar homes in your neighborhood. They also consider things like square footage, number of bedrooms, condition, and upgrades. A new roof or finished basement can bump up your assessment. A cracked foundation might lower it-but only if you appeal.

When You Pay and How Often

Virginia doesn’t send one big bill in January. Most counties split property taxes into two payments: one in June and one in December. Some cities like Norfolk and Roanoke bill quarterly. You’ll get a notice in the mail with due dates. Late payments carry a 10% penalty and interest that accrues monthly.

If you have a mortgage, your lender likely collects property taxes each month as part of your payment and holds them in an escrow account. They pay the tax bill for you when it’s due. But if you bought your home with cash or have a non-traditional loan, you’re responsible for paying it yourself. Missing a payment can lead to a tax lien-and in extreme cases, foreclosure.

Exemptions and Discounts That Lower Your Bill

You might qualify for a break. Virginia offers several property tax relief programs:

• Senior Citizen and Disabled Person Exemption: If you’re 65 or older or permanently disabled, you may get a partial exemption on your primary residence. The amount varies by locality-some offer $10,000 off the assessed value, others offer 50% off.
• Active Duty Military Exemption: If you’re stationed in Virginia but your legal residence is elsewhere, you’re not taxed on your home here.
• Homestead Exemption: Available in most counties, this reduces your assessed value by $25,000 to $50,000 if you live in the home as your primary residence.
• Historic Property Exemption: If your home is listed on the Virginia Landmarks Register or the National Register, you may qualify for a 100% exemption on improvements made to preserve its historic character.

You have to apply for these. They’re not automatic. Check your local commissioner of revenue’s website or visit the county courthouse. Deadlines are usually in March or April.

How to Challenge Your Assessment

If you think your home is overvalued, you can appeal. Every county has a Board of Equalization that hears property tax appeals. You’ll need evidence: recent sales of similar homes in your area, photos showing damage or outdated features, or a professional appraisal.

One homeowner in Chesapeake appealed her $420,000 assessment after her neighbor’s similar house sold for $370,000. She provided three comparable sales and won a $50,000 reduction. Her tax bill dropped from $4,900 to $4,100 a year.

Don’t wait until you get your bill. Appeals usually open in January and close by March. If you miss the window, you’re stuck until next year.

Property Tax vs. Other Costs

Let’s say you’re comparing two homes: one in Arlington and one in Pulaski County. Both are 2,000 sq. ft., three-bedroom homes. The Arlington home is priced at $700,000. The Pulaski home is $300,000.

On the surface, the Pulaski home looks cheaper. But here’s the catch:

• Arlington tax rate: $1.15 per $100 → $8,050/year
• Pulaski tax rate: $0.70 per $100 → $2,100/year

Even though the Pulaski home costs $400,000 less to buy, you’ll pay $5,950 more in taxes over five years if you live in Arlington. That’s like paying an extra mortgage payment every year.

That’s why smart buyers in Virginia don’t just look at the sale price. They calculate the full cost: mortgage + insurance + property tax + utilities. A home that looks affordable can become a financial strain once taxes are added in.

Where to Find Your Exact Tax Rate

You can’t guess your rate. You need to know your exact county or city. Here’s how to find it:

1. Go to your local Commissioner of the Revenue website. Search “[County Name] Virginia property tax”.
2. Look for “Tax Rates” or “Real Estate Tax Information”.
3. Find your assessed value on your last tax notice or the county’s online assessment portal.
4. Use their online calculator, if available.

Some counties, like Henrico and Prince William, have interactive maps where you can click your address and see your exact tax bill breakdown.

If you’re buying a home, ask your real estate agent for the most recent tax bill for that property. Don’t trust the listing-it might show last year’s number, not this year’s.

What’s Changing in 2026

This year, several Virginia counties are adjusting rates to cover rising costs. Fairfax County increased its rate by 0.05% to fund school renovations. Loudoun County added a 0.03% surcharge for road improvements. Meanwhile, rural counties like Patrick and Pittsylvania kept rates flat, even as land values rose.

Also, the state is rolling out a new online portal for property tax payments and appeals. It’s designed to reduce errors and speed up processing. But don’t assume it’s perfect-many users still report delays in updating assessed values.

One thing that won’t change: Virginia doesn’t have a state-level property tax. Everything is local. That means change happens fast-and you need to stay on top of it.

Final Tip: Budget for Tax Increases

Property taxes in Virginia rarely go down. They go up. Even if your rate stays the same, your assessed value will likely rise over time. Plan for a 3% to 5% annual increase in your tax bill. If you’re on a tight budget, don’t assume your taxes will stay flat. Build them into your long-term financial plan.

And if you’re thinking of moving to Virginia, don’t fall in love with a house before you check the tax bill. A $400,000 home in a low-tax county can be a better deal than a $300,000 home in a high-tax city. The numbers don’t lie.