Current Tax Rates :: VBgov.com - City of Virginia Beach

Current Tax Rates

Current Tax Rate

GENERAL TAX RATE per $100.00 of assessed value

Special Service District (SSD) Tax Rates per $100.00 of assessed value

General	$.99
Sandbridge SSD	$1.03
Central Business District South SSD	$1.44
Old Donation Creek SSD	$1.174
Bayville Creek SSD	$1.462
Shadowlawn SSD	$1.1494
Chesopeian Colony SSD	$1.2813
Harbour Point SSD	$1.11
Gills Cove SSD	$1.053
Hurds Cove SSD	$1.428
Schilling Point SSD	$1.394

Real estate is assessed at 100% of its fair market value.

Re-assessment notices are mailed the first part of March and assessment reviews are held from mid-March through the end of April. Annual real estate taxes are collected in two installments. Payment for the first half is due by December 5th of the same year and the second half due by June 5th of the following year.

Tax Rate FAQs

How Is The Amount Of Real Estate Tax Determined?

The Assessor's primary responsibility is to estimate the fair market value of your property, so that you pay only your fair share of taxes. The amount you pay in real estate tax is determined by a tax rate applied to the assessed value of your property. The tax rate is set by City Council and determined by the amount of revenue needed to provide the many City services offered to our citizens.

Real Estate Taxes = Assessment x Tax Rate

When Are Taxes Due And To Whom Do I Pay Them?

The fiscal year (July 1st to June 30th) real estate tax is billed in two parts by the Office of the City Treasurer. The first half payment is due December 5th and the second half payment is due June 5th. With many homeowners, real estate taxes are paid by their mortgage company from funds in the owner's escrow account. For those property owners that do not have a mortgage company, the tax payment is sent to the Treasurer directly by them.