Budgets that Hampton Roads city councils adopted this year took effect July 1.
The city budgets, that fund local governments for the fiscal year, set rates for real estate and personal property taxes. Here are tax rates adopted by seven Hampton Roads cities, and the revenue those taxes are expected to generate in the new fiscal year. Personal property tax varies by property type and the rate charged for personal vehicles is included.
Cities may offer different relief programs that can reduce tax liability.
Chesapeake
Real estate tax rate: $1.01 per $100 of assessed value, same rate unchanged for a few years. The city is expected to collect $390.5 million in revenue in fiscal 2025.
Personal property tax rate for vehicles: $4.08 per $100 of assessed value. Same as previous years. The city is expected to collect $76.2 million from all personal property taxes in fiscal 2025.
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Hampton
Real estate tax rate: $1.15 per $100 of assessed value, a 1-cent decrease from last year. Real estate tax revenue is anticipated to total $176.5 million in fiscal 2025.
Personal property tax rate for vehicles: $4.50 per $100 of assessed value, no change. Hampton is expected to collect $50.8 million in all personal property taxes in fiscal 2025.
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Newport News
Real estate tax rate: $1.18 per $100 of assessed value, no change from last year. The city is expected to collect $266.4 million in real estate taxes in fiscal 2025.
Personal property tax rate for vehicles: $4.50 per $100 of assessed value. Personal property taxes for all items is expected to total $69.2 million in fiscal 2025.
Newport News adopts $1.14 billion budget, raises salaries for city workers and public safety
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Norfolk
Real estate tax rate: $1.23 per $100 of assessed value, a 2-cent decrease from last year. Real estate tax revenue is anticipated to total $328.1 million in fiscal 2025.
Personal property tax rate for vehicles: $4.33 per $100 of assessed value. Norfolk is expected to collect $61.8 million in all personal property taxes in fiscal 2025.
Norfolk passes $1.9 billion budget with city worker raises, real estate tax cut
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Portsmouth
Real estate tax rate: $1.30 per $100 of assessed value, with a 5-cent credit bringing the effective tax rate to $1.25 per $100 of assessed value. Same as last year. The city is expected to collect $130.5 million in fiscal 2025.
Personal property tax rate for vehicles: $5 per $100 of assessed value. The city is expected to collect $36.9 million from all personal property taxes in fiscal 2025.
Portsmouth adopts $934 million budget reducing real estate tax, fully funding schools
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Suffolk
Real estate tax rate: $1.07 per $100 of assessed value, a nominal 2-cent reduction. Last year the rate was $1.09 but the city offered a 2-cent tax credit, putting the effective rate at $1.07. The city is expected to collect $165 million in real estate taxes in fiscal 2025.
Personal property tax rate for vehicles: $4.25 per $100 of assessed value. The city is expected to collect $36 million in fiscal 2025 in personal property taxes.
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Virginia Beach
Real estate tax rate: 97 cents per $100 of assessed value, 2-cent decrease from last year. The city is expected to collect $700 million in real estate taxes in fiscal 2025.
Personal property tax rate for vehicles: $4 per $100 of assessed value. The city is expected to collect $206.7 million from all personal property taxes in fiscal 2025.
Virginia Beach adopts $2.6 billion budget, cutting taxes and increasing city worker pay
