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Home > Market Information > Southwestern Virginia > Taxes
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Contact Us
Poe & Cronk Real Estate Group
10 South Jefferson Street
1200 Wachovia Tower
Roanoke, Virginia 24011
540-982-2444
pcfirm@poecronk.com
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Virginia Individual Income Tax Rates
| Income |
Tax Rate |
| Less than $3,000
| 2% of federal adjusted gross income |
| $3,000 - $5,000 |
$60 + 3% of excess over $3,000 |
| $5,000 - $17,000 |
$120 + 5% of excess over $5,000 |
| more than $17,000 |
$720 + 5.75% of excess over $17,000 |
| with exemptions of $800 each and applicable modifications |
Sales Tax
Sales tax in Virginia is 5.0% (excluding prescription medicine) with a 4% meals tax on prepared food in most localities in the area.
Local Tax Rates
Taxes on real estate and tangible personal property are levied and collected by local authorities. All real estate assessments are made at 1.00% of the market value. Each municipality uses a different assessment for personal property.
| Municipality |
Tax Rates per $100 Assessed Value |
| Real Estate |
Personal Property |
| Botetourt County |
$0.75 |
$1.80 |
| Roanoke City |
$1.23 |
$3.45 |
| Roanoke County |
$1.13 |
$3.50 |
| Salem City |
$1.18 |
$3.20 |
| Town of Vinton |
$1.18 |
$4.50 |
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