Taxes

Homeowners are responsible for ALL property taxes on the house and land

• As required by Virginia state law (§ 58.1-3295.2.), the tax assessment value of your home and the land will be reduced to reflect the affordability of the home which lowers your tax burden

• Homes are typically re-assessed once per year to determine their tax assessment value

• Taxes are typically paid twice a year though the exact timing depends on your locality

• Your taxes should be paid by your loan servicer with the money they collect for escrow

• If a tax bill is mistakenly sent to you instead of to your loan servicer, send that tax bill to your loan servicer as soon as possible

• If you have any questions about taxes please feel free to contact VSCLT. We are here to help!