Virginia Beach Real Estate

Virginia Beach real estate tax assessments will increase again this year by an average of 1.3%. While this increase is much lower than in recent years, it will put an additional burden on homeowners who are struggling with higher gas prices.

Virginia Beach Real Estate Tax Assessment increases for the past 5 years:

     2003 - 6.6%

     2004 - 11.7%

     2005 - 21.7%

     2006 - 22.9%

     2007 - 21.4%

     2008 - 1.3%

If the city council leaves the Virginia Beach real estate tax rate at 89 cents per $100 of assessed value, which is what City Manager Jim Spore proposed last week, the owner of that average home would pay roughly $37 a year more in real estate taxes.

The new assessments, to be mailed Friday and available on the city's Web site by next week, become official on July 1.

Thinking of buying Virginia Beach real estate? Search Virginia Beach homes or sign up to receive emial notification of new homes for sale as they hit the market with our for New Listing Alerts.

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