Virginia Real Estate Taxes: What You Pay, Who Sets It, and How to Save

When you buy property in Virginia real estate taxes, the annual fees homeowners pay to local governments based on their property’s assessed value. Also known as property tax Virginia, it’s not set by the state—it’s decided by each county, city, or town, which means your bill can jump dramatically just by crossing a street line. Unlike states with flat rates, Virginia lets local governments decide how much to charge, so two identical houses in neighboring towns could have wildly different tax bills.

Most homeowners in Virginia pay between 0.7% and 1.2% of their home’s assessed value each year. In Fairfax County, that might mean $7,000 on a $1 million home. In rural Montgomery County, it could be under $4,000. The difference isn’t just location—it’s what services your taxes fund. Schools, road repairs, emergency services, and even public parks all come out of this pot. And while Virginia doesn’t have a state property tax, it does offer some property tax exemptions, reductions for veterans, seniors, and disabled homeowners. Also known as Virginia property tax exemptions, these can lower your bill by hundreds or even thousands annually—if you know how to apply. Seniors over 65 or those with permanent disabilities may qualify for freezes or deferrals. Veterans with service-connected disabilities can get full or partial relief. But you have to file. No one sends you a check. Miss the deadline, and you pay full price.

Assessments happen every two years, but your tax bill doesn’t always match your market value. That’s because Virginia uses assessed value, not sale price. If your house sold for $500,000 but the county assessed it at $400,000, you pay taxes on $400,000. But if the market spikes and your neighbor’s similar house sells for $600,000, don’t be surprised when your next assessment jumps. You can appeal—many people do—but you need recent comparable sales and solid documentation. And if you’re thinking of buying land or a fixer-upper, remember: tax burden Virginia, the total cost of owning property after taxes, insurance, and maintenance. Also known as real estate tax rates, it’s not just the sticker price that matters. A cheap house in a high-tax county can cost more to own than an expensive one in a low-tax area.

There’s no single answer to "How much will I pay?"—but you can find out fast. Every county has a tax assessor’s website where you can look up any property by address. Check the last three years of bills. See if the owner got a homestead exemption. Look for patterns. Is the tax rate rising every year? Are schools getting new funding? That’s your clue to what’s coming next. And if you’re renting, ask your landlord what the taxes are. Some include it in rent. Others don’t—and you’ll still feel the impact if they raise prices to cover it.

What you’ll find below are real cases from Virginia homeowners, renters, and buyers who’ve faced these taxes head-on. From how a senior citizen saved $2,300 a year by filing one form, to why a new buyer in Richmond got a shock at closing, to how a landlord in Roanoke adjusted rents after taxes jumped 18%. These aren’t theory pieces. These are stories from people who lived it. And if you’re thinking about buying, renting, or even just staying put in Virginia, you need to know what’s really happening on the ground.