Norfolk, Virginia Property Tax Law

Find the right Property Tax attorney in Norfolk, VA

Property Tax Lawyers in Norfolk

Laws of Norfolk, Virginia require all property owners to pay a tax on the value of their property. Property taxes only apply to real property (as opposed to personal property). This includes land, buildings, and assets that are permanently or semi-permanently attached to the land.

The property tax in Norfolk, Virginia is simply a percentage of a piece of property's appraised value, paid to the state and/or local government on a periodic - usually annual - basis.

Generally, property taxes are not levied by the federal government. This applies to everywhere in the U.S.. Usually, property taxes are imposed by state and local governments.

How Property Tax is Calculated in Norfolk, Virginia

Norfolk, Virginia calculates its property taxes by requiring property owners to pay a set percentage of the appraised value. While the property tax rate varies widely across different parts of the country, they fall into the 1-5% range.

In order to levy this tax, the tax authorities in Norfolk, Virginia must have an uniform formula for figuring out the value of a given piece of property.

In many ways, the value of a piece of land is relative. After all, many people ascribe sentimental value to their homes, which goes well beyond its market value. To ensure that the system is fair, the government uses only objective standards to determine value.

To this end, the Norfolk, Virginia appraiser will look at things like the state of the real estate market, the size of the land, the presence of additions to the land such as buildings, and the way in which the property is zoned.

How A Norfolk, Virginia Property Tax Attorney Can Help.

Property tax law in Norfolk, Virginia is not always simple. Legal disagreements about property taxes can arise from almost any situation. For instance, you might have reason to suspect that the taxable value of your home was overestimated, creating a bigger property tax bill. And, the government might claim that you have underpaid your property taxes, while you think that you have paid the correct amount.

If you run into any issue with your Norfolk, Virginia property taxes, failing to handle it properly can result in anything from unnecessary inconvenience to large fines and tax penalties. However, with the help of a Norfolk, Virginia tax attorney, your chances of running into a property tax problem can be minimized.

Talk to a Tax Law Attorney now!

Life in Norfolk

Norfolk is Virginia's second-largest city. It is an independent city, and therefore not part of any county. It currently has a population of about 233,000 people.

Norfolk, Virginia was founded as an English colony in the 1620s, during the early days of English settlement in North America. By the time of American independence, Norfolk was considered one of the wealthiest cities in Virginia, owing its prosperity mostly to the burgeoning tobacco industry.

Modernly, Norfolk is coming out of some hard economic times. It is currently in the throes of a major urban renewal project, aimed at attracting businesses and residents back to its urban core. Norfolk's economy has been sustained by the presence of a naval shipyard, as well as a major commercial port, both of which provide thousands of jobs. Norfolk is also home to the headquarters of several Fortune 500 companies.

Because of its economic and demographic diversity, Norfolk, Virginia, there is a thriving and sophisticated legal community there. Norfolk, Virginia lawyers are capable of handling just about any legal problem a person might have. If you have any legal issues, you should contact a Norfolk, Virginia lawyer as soon as possible.

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