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Tax Summary
- Virginia has four income tax brackets ranging from 2% to 5.75% depending upon your level of income.
- The personal exemption for a single individual is $800, and for a married couple is $1,600. Each child receives a personal exemption of $800.
- State sales tax in Virginia is 3.5%; there is an additional 1% local tax levied.
- Food purchased for home consumption is taxed at a lower rate of 4%.
- There is no state property tax in Virginia.
- Real estate tax is assessed and collected at the local level based on fair market value of the property. Effective tax rates are set by individual municipalities.
- Local governments also levy tangible personal property taxes on items such as machinery, motor vehicles, furniture and equipment.
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