Virginia Beach, Va. – The city council has lowered the real estate tax rate in Virginia Beach. Officials say it will drop 2 cents to 93 cents per $100 on July 1.
How will your real estate assessment and tax bill change?
It’s easy to find out.
Visit www.vbtaxrate.com. You can also see how your property’s assessed value and taxes have fluctuated since 2007.
Here’s how it works: Search for a property by address or GPIN. A chart will show you the assessed value and tax for each year from 2007-08 to 20013-14, including the new tax rate that will start July 1. It also will show the total decrease or increase in the property’s taxes since 2007-08, and the annual rate of change since 2007-08.
The average home assessment in Virginia Beach dropped 2.3 percent this year. The average commercial and industrial assessment dropped 1.18 percent.
An accompanying chart shows the current real estate tax rate in each of the seven major cities of Hampton Roads. Virginia Beach has the lowest rate in the region.
For more information, contact the Real Estate Assessor’s Office at (757) 385-4601.