The City of Virginia Beach has added a feature to VBgov.com that enables citizens to enter a street address or GPIN (Geographical Parcel Identification Number) for a property within Virginia Beach and view a five-year history of the real estate tax data.
This feature was developed to help citizens learn more about how their property assessments and real estate taxes have fluctuated since 2008. The 2012-13 city budget, which was adopted by City Council on May 8, includes a six-cent increase in the real estate tax rate. By viewing their real estate tax history, citizens will be able to see how the rate increase will affect their real estate taxes – whether they will see an increase, decrease, or no change in the amount of taxes they will pay in 2012-13.
The six-cent increase, which is the first increase to the real estate tax rate in 16 years (since FY 1996-97), will go toward funding for schools and roads. Virginia Beach’s real estate tax rate was last changed in FY 2007-08, when City Council lowered it by 10 cents to help offset sharp increases in home values. An estimated 39% of homeowners will see a decrease in their 2012-13 real estate tax bill, even with the rate increase.
Citizens may access their real estate tax history at www.vbtaxrate.com and entering a street address or GPIN in the search box.
For more information, please contact the Real Estate Assessor’s Office at 385-4601.
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