What is the property tax % in VB and Chesapeake? (Virginia Beach: sale, real estate)

[catant]

Hi, all.

I'm a potential new home owner. I'm trying to find out what the property tax percentage is for Virginia Beach, Chesapeake, and other surrounding areas.

Thanks for any assistance you could provide.

[dougwinva]

If you are working with a realtor or mortgage provider already they can usually tell you what the property taxes will be on the latest assessed value of the property. It is always based on the assessment and not the sale price of the home, so unless it is new construction the "tax assessment value" of the home can be found through some state and local web tools.

If you are just starting and want to do your own research, you can find the tax rates on the local government pages of each city, since each one determines what they charge in real estate taxes. If you buy outside of the city limits in some of the places in the area the county is the property tax assessor.

I went ahead and looked at the rates for both VB and Chesapeake and found the following data.
Here was what VB had posted on the formula from an FAQ section.

Isn't there a formula that is used to compute my real estate tax obligation?
Yes. The amount of tax you pay is determined by the tax rate applied to your assessed value. The tax rate is set by City Council and is determined by the amount of revenue needed to provide the many services offered to our citizens. To determine the annual tax: :

• For the General Tax District: Assessed Value X 0.0089
• For the Sandbridge Tax District: Assessed value X 0.0095
• For the Central Business Tax District: Assessed value X 0.0139

Chesapeake just had these two rates depending on mosquito control, but I did not dig any deeper to see if they showed where those services were offered.

Mosquito controlled areas
$1.05 per $100 of assessed value

Non-Mosquito controlled areas
$1.04 per $100 of assessed value


Hope that gets you started.