Virginia Mortgage Calculator
Virginia is one of the only states where cities aren’t part of any county at all. Alexandria, Virginia Beach, Falls Church, and 35 other independent cities set their own property tax rates entirely separate from a surrounding county. This Virginia mortgage calculator with taxes and insurance lets you pick a county or an independent city directly, and models the state’s full property tax exemption for 100% disabled veterans.
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Statewide Median Spotlight
This reflects Virginia’s statewide median effective property tax rate. Virginia has no statewide rate; every one of the state’s 95 counties and 38 independent cities sets its own.
Your Estimated Monthly Payment
Payment breakdown
Balance vs. interest paid over time
Enter your details above to see a plain-language read on your payment.
What If You Paid Extra Toward Principal?
Slide to test an extra monthly payment and see how many years and how much interest it saves.
What If Your Rate Changes?
| Rate scenario | Interest rate | Monthly P&I | Difference |
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Your 5-Year Equity Projection
| Year | Remaining balance | Principal paid | Interest paid | Equity |
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Why Counties Aren’t the Whole Picture in Virginia
Virginia is one of only a handful of states with independent cities, municipalities that are legally and administratively separate from any surrounding county entirely. Alexandria, Virginia Beach, Falls Church, Richmond, Norfolk, and 33 others don’t belong to a county for tax purposes; their city government sets the real estate tax rate directly. That’s why the dropdown above lets you pick a county or an independent city as equal, parallel options rather than nesting cities inside counties the way most states do.
Virginia Property Tax by County and Independent City
| Locality | Type | Rate | Notes |
|---|---|---|---|
| Lunenburg County | County | 0.33% | Lowest in the state |
| Loudoun County | County | 0.805% | Fast-growing Northern Virginia county |
| Winchester | Independent city | 0.795% | Northern Shenandoah Valley |
| Henrico County | County | 0.87% | Greater Richmond metro |
| Prince William County | County | 0.906% | Potomac River, southwest of D.C. |
| Virginia Beach | Independent city | 1.000% | Atlantic coast |
| Arlington County | County | 1.013% | Across the Potomac from D.C. |
| Fairfax County | County | 1.1225% | Most populous locality in the state |
| Alexandria | Independent city | 1.140% | Not part of any county |
| Falls Church | Independent city | 1.295% | Smallest independent city by area |
| Manassas Park | Independent city | 1.405% | Highest in the state |
Virginia’s Full Exemption for 100% Disabled Veterans
Since a 2011 constitutional amendment, Virginia offers one of the most generous disabled veteran property tax benefits in the country: a complete, 100% exemption from real estate tax on the primary residence of a veteran with a 100% permanent and total service-connected disability rating, with no dollar cap on the home’s value. A qualifying surviving spouse can continue receiving the exemption after the veteran’s death, as long as they don’t remarry and continue to occupy the home as their primary residence. This isn’t a discount or a credit against a bill, it’s a full elimination of the property tax line, which the checkbox above models directly.
Real Estate Tax Relief for Elderly and Disabled Homeowners
Separate from the veteran exemption, Virginia allows each county and independent city to run its own Real Estate Tax Relief program for elderly or disabled homeowners, typically based on income and net worth limits set locally. Because these thresholds vary significantly from one locality to the next, check directly with your county or city’s Commissioner of the Revenue for the specific numbers where you’re buying.
Virginia’s Recordation Tax: Based on Your Loan, Not the Sale Price
Most states charge a transfer tax based on the home’s sale price. Virginia’s main buyer-side closing tax, the state recordation tax, works differently: it’s charged on the deed of trust that secures your mortgage, at $0.25 per $100 of your loan amount, which is why the estimate above updates directly from the loan amount this calculator already computes. Sellers separately pay Virginia’s grantor’s tax, roughly 0.1% of the sale price statewide, with an additional 0.2% in Northern Virginia’s NVTA jurisdictions and 0.06% in the Hampton Roads region, funding regional transportation projects.
Frequently Asked Questions
What is a Virginia independent city?
A municipality that is legally and administratively separate from any surrounding county, setting its own real estate tax rate and providing its own local services directly. Virginia has 38 independent cities, including Alexandria, Virginia Beach, and Falls Church.
Does Virginia have a property tax exemption for disabled veterans?
Yes, a full, 100% exemption from real estate tax on the primary residence of a veteran with a 100% permanent and total service-connected disability rating, established by a 2011 constitutional amendment, with no cap on home value. It extends to a qualifying surviving spouse.
Why do Virginia property tax rates vary so much by locality?
Virginia has no statewide property tax rate. Each of the state’s 95 counties and 38 independent cities sets its own real estate tax rate to fund schools and local services.
What is Virginia’s recordation tax?
A state tax on the deed of trust securing your mortgage, charged at $0.25 per $100 of your loan amount, typically paid by the buyer at closing.
Who pays Virginia’s grantor’s tax?
The seller, by default, at a statewide base rate of roughly $0.10 per $100 of the sale price, with additional regional fees in Northern Virginia and Hampton Roads that fund transportation projects.
How accurate is this mortgage calculator with taxes and insurance?
The principal and interest math is exact. Locality tax figures reflect published rates, while insurance and PMI are market-based estimates that may vary once a lender underwrites your loan.
Should I choose a 15-year or 30-year mortgage in Virginia?
A 15-year term carries a lower rate and less total interest but a higher payment. A 30-year term keeps payments lower and more flexible, which is why most buyers choose it.
Does this calculator include Virginia’s grantor’s tax or closing costs?
No. This tool focuses on your ongoing monthly payment and the buyer-paid recordation tax. The seller’s grantor’s tax and other closing costs are separate, one-time expenses due at signing.
References
- Virginia Department of Taxation, Local Tax Rates – tax.virginia.gov/local-tax-rates
- Consumer Financial Protection Bureau, Owning a Home resources – consumerfinance.gov/owning-a-home
- U.S. Department of Housing and Urban Development, homebuying guidance – hud.gov/topics/buying_a_home
Related State Mortgage Calculators
Comparing Virginia against neighboring or similarly-structured markets? These calculators use the same real tax-data approach:
Related DexoCalc Tools
This Virginia mortgage calculator sits inside a wider set of financial planning tools on DexoCalc.
This calculator provides estimates for educational purposes only and is not a loan offer, pre-approval, or substitute for advice from a licensed mortgage professional. County, city, veteran exemption, and recordation tax figures reflect published rates and law at time of writing and can change; confirm exact current figures with your local Commissioner of the Revenue, the Virginia Department of Taxation, and your insurance provider. Sources: VA Department of Taxation, CFPB.