Local Real Estate Tax Charts
Posted by Homes and Food Real Estate at 10/28/2008 10:13 AM 
Categories: Virginia and Hampton Roads News You Can Use
Categories: Virginia and Hampton Roads News You Can Use
All figures below represent the tax rate for each of our major cities in Hampton Roads. To determine the yearly taxes on a property, the tax rate is mulitiplied by the assessment (per hundred) of the property not the appraisal. For instance, if a home in Chesapeake was assessed at $200,000, it would be 200,000 X .0105 = $2,100.
Chesapeake 1.05
Virginia Beach .89
Norfolk 1.11
Portsmouth 1.21
Suffolk .91
Hampton 1.04
Newport News 1.10
Chesapeake 1.05
Virginia Beach .89
Norfolk 1.11
Portsmouth 1.21
Suffolk .91
Hampton 1.04
Newport News 1.10
Thanks for the Example part!!!!! I have tried to figure this quick method for a long time now! I really appreciate that. I would love to hear your view/opinion/phylosphy as a vetern real estate agent on...how to Successfully Navigate the dreaded Mortgage banker/broker loan process...from the Gotya's to the dishonesty to look out for, etc. As a buyer I have shopped for loans with Many bankers and feel so frustrated leaving each office!! Seems to me they all say one thing and do another. Maybe it's my lack of negotiating/people skills or they just take me as a naive person they can easily bushwack. PLEASE HELP!!!!! THANKS!!!!!!!!!!!!!!!!!!!!!!
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Hi Bill, I appreciate your comment and know what you mean. As someone who does this for a living, it took me a few years in the business to weed out the lenders and loan officers that I wanted to recommend to buyers. In the early days, I would give a client the name of a lender only to find out that my client was shocked at closing to see what his finance terms were going to be. On another note, some of these guys just tell you what you want to hear, just to get you on paper and maybe you'll close and maybe not. Anyway, you have every right to be frustrated. Not only do I operate the bohemuth real estate site, www.homesandfood.com, but I also am active in about a dozen blogs and forums. This topic does come up often and this is what I usually tell people. First of all, try to deal locally with a well-known bank. You might start with whoever you have your checking out with. In my opinion you should not work with mortgage brokers or "internet" lenders. I will probably get a lot of hate mail from this sentence but I can't tell you how many times one of these institutions have not been able to close the deal after telling everyone otherwise. Mortgage brokers are like middle men and they will take your application and sell it to legitimate lenders who do fund their own loans. In other words, the fees to the buyer will be higher because these middle men need to be paid too. Another important part of the equation is the loan officer themself. You might be working with a very reputable company but the officer may tend to "drop the ball". You should ask them a lot of questions about their support staff and how well they can turn around a loan. Lastly, ask your realtor for their opinion. As long as your realtor has been in the business for a while and rely on it for their sole source of income, they will not recommend someone who will make your angry. Good loan officers know that a big part of their business is keeping successful real estate agents happy. I have several loan officers with several different banks that I have worked with for years. One thing is for sure, with the amount of business that I do, they do not want to lose my business, which means keeping my client happy. Hope this helps and good luck to you.
Jeff Nelson
The Real Estate Group
www.homesandfood.com
757-749-1616
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