The average effective property tax rate in Virginia is 0.79%, 17th-lowest in the country. That means that, on average, Virginians pay 0.79% of their home value in property taxes every year.What is the definition of real estate tax?
A real property tax is a local tax on the value of real estate. The property may be assessed at full value, which is presumably the price that the owner could sell it for in the current market, or using some other valuation method.What is a real estate tax bill?
Real Estate Tax The money collected from real estate taxes helps fund local government including schools, townships, and the county. Your tax bill is based on the tax rate multiplied by your property valuation .